Santucci Appliances received an invoice dated June 16 with terms 2/10 E O.M. for the items listed below
4 refrigerators at $1050 each less 30% and 6%
5 dishwashers at $706 each less 17 g%, 12.6%, and 5%
(a) What is the last day for taking the cash discount?
(b) What is the amount due if the invoice is paid on the last day for taking the discount?
(c) What is the amount of the cash discount if a partial payment is made such that a balance of $2000 remains outstanding on the invoice?
Save On Shoes bought a shipment of 637 pairs of women’s shoes for $25.00 per pair. The store sold 148 pairs at the regular selling price of $194.00 per pair, 64 pairs at a clearance sale at a discount of 49%, and the remaining pairs dur
at a price that equals cost plus overhead. The store’s overhead is 29% of cost
(a) What was the price at which the shoes were sold during the clearance sale?
(b) What was the selling price during the inventory sale?
(c) What was the total profit realized on the shipment?
(d) What was the average rate of markup based on cost that was realized on the shipment?
A lakeside resort offered a midweek package at $179 per night for two people. The package included accommodation in a one-bedroom suite, which regularly sold for $333, breakfast for two, regularly priced at $17 per person, and a 30% disco
services, a value of $40 per person
(b) What was the overall rate of markdown at which the packages were sold?
(a) What was the overall markdown at which the packages were sold?
What amount will reduce the amount due on an invoice of $2617 49 by $1186.82 if the terms of the invoice are 4/10, n/60 and the payment was made during the discount period?
(A) the payment amount is ?
A hardware store buys outdoor lights for $9.00 per dozen less 25%, 14%. The store’s overhead is 29% of cost and the required profit is 21% of cost. For how much per dozen should the lights be sold?
(a) the selling price should be what per dozen
A patio set is listed for $660.39 less 47%, 12%, 1%
(a) What is the net price?
(b) What is the total amount of discount allowed?
(c) What is the exact single rate of discount that was allowed?
A department store paid $64.04 for a cookware set. Overhead expense is 8% of the regular selling price and profit is 14% of the regular selling price. During a clearance sale, the set was sold at a markdown of 43%. What was the operating profit or loss on the
sale?
A sports store purchased tennis racquets for $58 46 less 33% for purchasing more than 100 items, and a further 18% was reduced for purchasing the racquets in October. The racquets were sold to customers for $68 96
(a) What is the cost of each racquet?
(b) What is the markup as a percent of cost?
(c) What is the markup as a percent of selling price?
An electronic game listed at $183.00 less 10%, 8%, 5% is offered at a further reduced price of $142.51. What additional rate of discount was offered?
Sierra Stone Ltd. received an invoice dated March 28 with terms 1/15, n/30. The amount stated on the invoice was $2838.00
(a) What is the last day for taking the cash discount?
(b) What is the amount due if the invoice is paid on the last day for taking the discount?
A wholesale company prices its inventory at $130,451. If the original price of the items was $211,987, find the rate of markdown on the original price
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