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1. product costs are increased by the presence of middlepersons in the distrubution channel. (points: 5) true 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 (points: 5) $20.70 $133.90 $172.50 $536.50 3. a trader buys 3 dozen units of product x for a total of $158.40. what is the unit cost? (points: 5) $4.40 $6.60 $44.40 $52.80 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? (points: 5) $0.60 $0.90 $2.00 $3.00 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? (points: 5) $3,888 $4,752 $4,800 $5,120 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? (points: 5) $476 $595 $612 $644 7. a store receives $400 cash after offering a chain discount of 10105 on a good. what was the list price? (points: 5) $492.20 $519.82 $533.33 $612.00 8. merchandise lists for $5,000 with a trade discount of 10% and terms of 530, 360, n90. if the purchaser is invoiced on april 12th and payment is made on june 10th, what is the actual amount paid? (points: 5) $4,275 $4,350 $4,365 $4,500 9. an invoice for product x totals $1,200 and is dated july 6, 2000 with terms 21060x. if the invoice is paid on september 3, 2000, what is the net amount of payment? (points: 5) $912 $1,152 $1,176 $1,200 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? (points: 5) 1.5% 10.57% 15.83% 45.83% 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? (points: 5) $29.99 $32.22 $35.71 $36.58 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. (points: 5) $44.00 $50.40 $54.00 $60.00 13. an item bought for $32 is sold for $40. what is the markup based on price? (points: 5) 20% 25% 33.33% 40% 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? (points: 5) $20.16 $24.00 $31.50 $40.00 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? (points: 5) $8.15 $10.00 $10.87 $11.96 16. a baker makes 500 creamfilled 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. (points: 5) $1.27 $1.31 $1.33 $1.45 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? (points: 5) $77.00 $84.00 $92.00 $108.50 18. a(n) _______ loss occurs when the reduced price is below the actual cost. (points: 5) net operating absolute incurred 19. 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: (points: 5) net loss of $110.30. net loss of $60.48. net loss of $14.40. net profit of $2.07. 20. 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? (points: 5) $1.50 $2.25 $2.40 $4.88
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