Woodsgift Farm sells floral jellies - jellies made from pansies, honeysuckle, wisteria, and other flowers. To price its jellies, the owners of the farm, add 30 percent to the cost of everything that goes into making the jellies including their salaries, jars, sugar, and pectin. What is this pricing method called?

Question

Quizplus · Accepted Answer

This pricing method is called standard markup pricing because it involves adding a fixed percentage to the cost of the product to determine its selling price.

Woodsgift Farm Sells Floral Jellies - Jellies Made from Pansies