Question

Morgan Photography’s markup on its antique picture frames is 35% of selling price. Its cost on the medium-size antique frame is $115.70. For portrait photos shot by Morgan’s, this frame’s price is reduced to $133.50. What is Morgan’s operating profit or loss at this price if overhead expenses are 20% of the regular selling price?
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Answer 1

Step-by-step explanation:

the price 342$ and 30% of the antique price = 43.15$

Answer 2

Answer:

Its cost on the medium-size antique frame is $115.70. For portrait photos shot by Morgan's, this frame's price is reduced to $133.50