1)Contribution margin is selling price plus unit cost?

1)Contribution margin is selling price plus unit cost? True or False 2)Markup represents an amount needed to cover operating expenses. True or False 3)Selling price times one minus markup percent on selling price will equal the cost if markup is based on selling price. True or False 4)Actual cost is equaled to the cost times the markup percent on cost plus one. True or False 5)The markdown percent is the amount of markdown divided by the new sale price. True or False 6)When markup is based on selling price the cost is the base. True or False7)A final selling price may be the result of a series of markdowns(and possibly some markups). True or False8)If the selling price and percent markup on selling price is given the actual cost can be calculated.True or False

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