
Originally Posted by terryman
The M+ key puts the number (that is in the calculator section) into memory. The M takes it out of memory and puts it back into the calculator section.
Basically you use the calculator section to create a number and then use the function buttons above that to move the number into the locations above the function buttons.
To calculate sell price you would enter the margin in the calculator section and then press the margin button to move it into the margin section. Then enter cost into the calculator section and then press the cost button to move it into the cost section. The correct sell price will then appear above the sell button.
The reason I have the calculator section is that in many cases one may want to do calculations on a number before moving it up to the cost margin, etc section.
Hi,
Love the app...but this is does not appear to be calculating margin properly.
Margin is different than markup. From wikipedia
Gross margin  Wikipedia, the free encyclopedia
Markup
Markup can be expressed either as a decimal or as a percentage, but is used as a multiplier. Here is an example:
If a product costs the company $100 to make and they wish to make a 50% profit on the sale of the product (sale dollars) they would have to use a markup of 100%. To calculate the price to the customer, you simply take the product cost of $100 and multiply it by (1 + the markup), eg: 1+1=2, arriving at the selling price of $200.
[edit] Gross margin
Most people find it easier to work with Gross Margin because it directly tells you how many of your sale dollars are profit. In reference to the two examples above:
The $200 price that includes a 100% markup represents a 50% gross margin. As you can see, gross margin is just the percentage of the selling price that is profit. In this case 50% of our price is profit, or $100.
\frac{$200  $100}{$200} * 100% = 50%
In the more complex example of selling price $339, a markup of 66% represents approximately a 40% gross margin. This means that 40% of the $339 is profit. Again, gross margin is just the direct percentage of profit in your sale price.
In accounting, the gross margin refers to sales minus cost of goods sold. It is not necessarily profit as other expenses such as sales, administrative, and financial must be deducted.
[edit] Converting between gross margin (GM) and markup
The formula to convert a Markup to Gross Margin is:
Gross Margin (GM) = [Markup/(1 + Markup)]
Examples:
* Markup = 100%
* GM = [1 / (1 + 1)] = 0.5 = 50%
* Markup = 66%
* GM = [0.66 / (1 + 0.66)] = 0.398 = 39.8%
[edit] Using gross margin to calculate your selling price
Sometimes a salesperson will be asked to use gross margin in their sales. For example, your sales manager may ask that all sales include the cost of the product and the required GM.
[edit] Formula to calculate Selling price using gross margin
Selling Price = \frac{Cost}{1GM%}
For example, if your product costs $100 and the required gross margin is 40%, then
Selling Price = \frac{$100}{140%} = \frac{$100}{0.6} = $166.6
\frac{$100}{100%  40%} = $166.6
\frac{$100}{0.60}= $166.6


