JWT Agency has designed a quarter-page magazine ad for Promise vegetable-oil spray.The job required the services of a photographer to produce photographs of various foods that will "taste better with Promise".The invoice for the artwork from the photographer was for $200.If JWT uses the traditional markup,how much did the advertising agency bill Promise vegetable-oil spray company?

Question

Quizplus · Accepted Answer

Markup: A source of agency income gained by adding some amount to a supplier's bill,usually 17.65 percent.To get the traditional agency commission of 15 percent,JWT would markup the $200 bill by 17.65 percent which comes to $235.

JWT Agency Has Designed a Quarter-Page Magazine Ad for Promise