Veronica Foaley sells evening jackets sewn with metallic threads and beads. She wants to set a price of $600 for a jacket. The markup she wants is 60% of the selling price. What is the most she can pay for the jacket?

The most she can pay for the jacket is $375 (=600 / (100%+60%)) assuming this is the cost of the jacket before it sewn with metallic threads and beads. A markup is a difference between the production cost and the selling price in order to cover the additional cost related to the product. Based on the data, she wants to keep the 60% for covering the cost.