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Direct job cost is $58,500 and markup is 22 percent on cost. What bid price results?

Correct Answer

A) $71,370.

Markup is $58,500 x 22 percent = $12,870. Bid price is $71,370.

Answer Options
A
$71,370.
B
$64,870.
C
$68,500.
D
$80,000.

Why This Is the Correct Answer

Markup is $58,500 x 22 percent = $12,870. Bid price is $71,370.

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