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this question are really good
I just want to understand something. there are three ways
1. 100/80 * 26
2. 120/100 * 26
3. 26*100/20
like on absorption costing question about selling price,i got it wrong coz i am always confused when it comes to the three ways. like the way the questions are asked,how best can l know which one to use.?
Unless the question specifically says differently, a profit margin is the profit as a % of the sales. A mark-up is the profit as a % of the cost.
(It may help you to watch the Paper FA lectures on mark-ups and margins.)
Thanks