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Answer:
A markup is the dollar amount a business adds to the cost of a product to determine its selling price. The task of calculating a markup is fairly simple, but you should not take it lightly. Prices that are too high can drive away customers. If a price is too low, you won't make a profit. Consequently, deciding how much markup to add to a product is one of the most important responsibilities of a business owner or manager.
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Answer:
Markup. Markups and food cost percentages are two sides of the same coin. While target food cost percentages generally fall between 20-40%, markups are usually around 300%. While the percentages sound wildly different, they bring the same results.
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