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Exercise 3-23 (Part Level Submission) suppose acording to a March 3, 2012, FFTimes.com artide, Apple enjoyed a 53% grass margin on its ipad2 when it was first released in March 2011. ▼ (a) Given that the iPad2 sold for $632.DD, what was the oost to make it, assuming the 53% gross margin? (Round answer to 2 decimal places, eg, a 38 ) Attempts: 2 of 15 used [X] Your answer is incorrect. Try again. rch 2012, the second year of production, the cost of producng an pad2 fel to an esbmated $247.31. What markup percentage would Apple need to use to maintan ts 632.00 sales price? (Round answer to 1 decimal place eg, 25 Markup peroentage Attempts: 3 of 15 usedSAVE FOR LATER

Can I please get assistance on how to solve this problem?

Exercise 3-23 (Part Level Submission)

Suppose according to a March 3, 2012, EETimes.com article, Apple enjoyed a 53% gross margin on its iPad2 when it was first released in March 2011.

Given that the iPad2 sold for $632.00, what was the cost to make it, assuming the 53% gross margin?

Answer: $297.04

In March 2012, the second year of production, the cost of producing an iPad2 fell to an estimated $247.31. What markup percentage would Apple need to use to maintain its $632.00 sales price? (Round answer to 1 decimal place, e.g. 25.2%.)

Answer: ??

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