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Homework answers / question archive / The seasonal plan for a shoe department shows planned sales of $753,000 with planned markdowns of 56

The seasonal plan for a shoe department shows planned sales of $753,000 with planned markdowns of 56

Business

The seasonal plan for a shoe department shows planned sales of $753,000 with planned markdowns of 56.4%

 

A.) what is the total planned dollar amount of markdowns?

B) if the actual markdowns are $450,000 on actual sales of $800,000 are the actual markdowns taken more or less than planned? By how much? What is the actual markdown percentage?

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a) Computation of Total Planned Dollar Amount of Markdowns:

 Total Planned Dollar Amount of Markdowns = $753,000*56.4% = $424,692

 

b)  Actual markdowns Percentage = $450,000/$800,000*100 = 56.25%

The actual markdowns are less than planned markdowns = 56.4% - 56.25% = 0.15%

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