1. Please post no more than three questions per thread otherwise things get too confusing.Hi this is Greg and I need help with this very long homework assignment, Thanks I gladly appreciate your help.
1. Product costs are increased by the presence of middlepersons in the distrubution channel. True or False
2. Determine the extension amount of the following order: Product X: 10 units @ $2.35 each
Product Y: 12 boxes @ $6.15 per box
Product Z: 3 dozen @ $12.20 per dozen
3. A trader buys 3 dozen units of product X for a total of $158.40. What is the unit cost?
4. A trader can purchase a good at $7.20 per unit, or they can buy 5 for $33.00. What is the total amount saved by buying in bulk?
5. A merchant pays $4,320 for a shipment of goods after receiving a 10% trade discount. What is the list price for the shipment?
6. A wholesaler lists a refrigerator model at a price of $850 and offers a chain discount of 20% and 10%. What is the net price?
7. A store receives $400 cash after offering a chain discount of 10/10/5 on a good. What was the list price?
8. Merchandise lists for $5,000 with a trade discount of 10% and terms of 5/30, 3/60, n/90. If the purchaser is invoiced on April 12th and payment is made on June 10th, what is the actual amount paid?
9. An invoice for product X totals $1,200 and is dated July 6, 2000 with terms 2/10-60X. If the invoice is paid on September 3, 2000, what is the net amount of payment?
10. A good purchased for $480 sells for $700. If the store's operating expenses are 30% of cost, what is the percentage markup on cost?
11. A retailer sells a clothing item for $49.99. If the retailer maintains a 40% markup on cost, how much can it afford to pay for the item?
12. Determine the selling price of a good if it is purchased for $36 and the firm wants to earn a markup of 40% on the selling price.
13. An item bought for $32 is sold for $40. What is the markup based on price?
14. A retailer wants to sell an item that costs $18 at a list price that will provide a 25% markup on the selling price and give the customer a 40% discount. What is the list price?
15. A flower shop buys 200 mixed fresh flower arrangements for $4.50 per arrangement. The owner estimates that 10% will wilt before they are sold and will have to be discarded. If the store requires a 50% markup on the selling price, what is the price per arrangement?
16. A baker makes 500 cream-filled eclairs at a cost of $0.72 each. He estimates that 10% of the eclairs will be sold the following day at a reduced price of $0.80 each. Find the marked price if the baker wishes to obtain a 75% markup on cost.
17. A vendor reduces an item listed at $140 on July 1st by 20%, and then reduces it another 25% on September 1st. What is the sale price of the good after the last reduction?
18. A merchant buys a good for $275. Their store's operating expenses are 35% of cost. The selling price of the good is $549, but is marked down by 35%. The transaction resulted in a:
19. A trader buys a good at a cost of $8.00 per unit. Operating expenses are 35% of the selling price and net profit is 15% of the selling price. What is the maximum dollar markdown allowed without incurring an operating loss on the sale of the good?
2. Getting help doesn't mean posting the entire assignment and hoping people will answer it.
3. Please show what you've tried with each question and say where you get stuck.