SOLUTION: Please Help! this question has been killing my brain
Edward’s Electronics is a small electronics store selling a variety of electronics equipment.
It has a small but progressiv
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Question 1026589: Please Help! this question has been killing my brain
Edward’s Electronics is a small electronics store selling a variety of electronics equipment.
It has a small but progressive camera department. Since Edward’s does not sell
very many cameras during the year, it only has a small number in stock. Edward’s has
just ordered six of the new digital cameras from Nikon. Edward’s owner has been told
that the cost of each camera will be $170, with terms 2/15, n/30. The manufacturer’s
suggested retail price (MSRP) of each camera is $400. Edward’s owner calculates that
the overhead is 15% of the MSRP and that the desired profit is 18% of the MSRP.
Sears has a large camera shop in its store in the mall in the same town. It has
ordered 70 of the same cameras from Nikon. Sears has been offered both a cash discount
and a quantity discount off the list price of $170. The cash discount is 3/20, n/45,
while the quantity discount is 3.5%. Sears estimates its overhead is 25% of the MSRP
and it would like to make a profit of 35% of the MSRP.
Questions
1. What is the cost per camera (ignoring taxes) for Edward’s Electronics and for
Sears?
2. For each store, what is the minimum selling price required to cover cost, overhead,
and desired profits?
3. If Edward’s and Sears sell the camera at the MSRP, how much extra profit will
each store make
(a) in dollars?
(b) as a percent of MSRP?
4. What rate of a markdown from MSRP can Edward’s offer to cover its overhead
and make its originally intended profit?
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!
This is an Algebra website. You need to find a business and finance site for this type of question.
John
My calculator said it, I believe it, that settles it
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