Tutors Answer Your Questions about Finance (FREE)
Question 991781: Luigi's Restaurant offered a "buy one get one half off" sale for the midweek period. The "one half off" referred to the lesser-priced dinner. A consumer ordered a steak dinner, with a regular price of $19, and a chicken dinner, with a regular price of $14.
a) What was the overall markdown at which the dinners were sold?
b) What was the overall rate of markdown at which the dinners were sold?
Answers:
a) $7.00
b) 21.21%
Click here to see answer by Theo(13342)  |
Question 992276: 1) The Superior Jumpdrive Company sells jump drives for $10 each. Manufacturing cost is $2.60 per jump drive; marketing costs are $2.40 per jump drive; and royalty payments are 20% of the selling price. The fixed cost of preparing the jump drive is $18 000. Capacity is 15 000 jump drives.
a) Compute:
i) the contribution margin
ii) the contribution rate
b) Compute the break-even point:
i) in units
ii) in dollars
iii) as a percent of capacity
c) Determine the break-even point in units if fixed costs are increased by $1600, while manufacturing cost is reduced by $0.50 per jump drive.
d) Determine the break-even point in units if the selling price is increased by 10%, while fixed costs are increased by $2900.
Answers:
a)
i) $3.00
ii) 30%
b)
i) 6000
ii) $60 000
iii) 40%
c) 5600
d) 5500
Click here to see answer by solver91311(24713)  |
Question 992275: 1) The Stereo Shop sold a radio regularly priced at $125 for $75. The cost of the radio was $120 less 33.33....% and 15%. The store's overhead expense was 12% of the regular selling price.
a) What was the rate of markdown at which the radio was sold?
b) What was the operating profit or loss?
c) What rate of markup based on cost was realized?
d) What was the rate of markup based on the sale price?
Answers:
a) 40%
b) loss of $8.00
c) 10.29%
d) 9.33%
Show all your work please!
Click here to see answer by solver91311(24713)  |
Question 992274: The Pottery bought 600 pans auctioned off for $4950. This means that each pan has the same cost. On inspection, the pans were classified as normal quality, seconds, or substandard. The 360 normal-quality pans were sold at a markup of 80% of cost, the 190 pans classified as seconds were sold at a markup of 20% of cost, and the remaining pans classified as substandard were sold at 20% below their cost.
a) What was the unit price at which each of the three classifications was sold?
b) If overhead is 33.33.....% of cost, what was the amount of profit realized on the purchase?
c) What was the average rate of markup based on the selling price at which the pans were sold?
Answers:
a) $14.85; $9.90; $6.60
b) $957.00
c) 34.4978%
Show all steps please!
Click here to see answer by solver91311(24713)  |
Question 992273: Sky Sales Inc. purchased portable communication devices listed at $198 less 60% and 16.6...%. Expenses are 45% of the regular selling price and net profit is 25% of the regular selling price. According to the company's pricing strategy, the merchandise is marked with a price so that it advertise a 37.5% discount while still maintaining its usual markup. During the annual inventory sale, the unsold equipment was marked down 55% of the marked price. What operating profit or loss was realized on the devices sold during the sale?
Answer: Loss of $6.60
Click here to see answer by solver91311(24713)  |
Question 992272: Big Boy Appliances bought self-cleaning ovens for $900 less 33.33...^ and 5%. Expenses are 15% of the regular selling price and profit is 9% of the regular selling price. For competitve reasons, the store marks all merchandise with a price so that a discount of 25% can be advertised without affecting the margin. To promote sales, the ovens were marked down 40%. What operating profit or loss did the store make on the ovens sold during the sales promotion?
Answer: loss of $82.50
Click here to see answer by solver91311(24713)  |
Question 992271: Big Boy Appliances bought self-cleaning ovens for $900 less 33.33...^ and 5%. Expenses are 15% of the regular selling price and profit is 9% of the regular selling price. For competitve reasons, the store marks all merchandise with a price so that a discount of 25% can be advertised without affecting the margin. To promote sales, the ovens were marked down 40%. What operating profit or loss did the store make on the ovens sold during the sales promotion?
Answer: loss of $82.50
Click here to see answer by solver91311(24713)  |
Question 992268: A retail store realizes a markup of $31.50 if it sells an article at a markup of 35% of the selling price.
a) What is the regular selling price?
b) What is the cost?
c) What is the rate of markup based on cost?
d) If overhead expense is 28% of cost, what is the total cost?
e) If the article is sold at markdown of 24%, what is the operating profit or loss?
Answers:
a) $90
b) $58.50
c) 53.85%
d) $74.88
e) loss of $6.48
Click here to see answer by solver91311(24713)  |
Question 992263: Billington's buys shirts for $21 less 25% and 20%. The shirts are priced at a regular selling price to cover expenses of 20% of regular selling price and a profit of 17% of regular selling price. For a special weekend sale, shirts are marked down 20%.
a) What was the operating profit or loss on the shirts sold during the weekend sale?
b) What rate of markup was realized based on cost?
Answers:
a) loss of $0.60
b) 26.9841%
Click here to see answer by solver91311(24713)  |
Question 992261: Sight and Sound bought large-screen colour TV sets for $1080.00 less 33.33...% and 8.33...%. Overhead is 18% of regular selling price and required profit is 15.33...% of regular selling price. The TV sets were marked at a price so that the store was able to advertise a discount of 25% while still maintaining its margin. To clear the inventory, the remaining TV sets were marked down 37.5%.
a) What operating profit or loss is realized at the clearance price?
b) What is the realized rate of markup based on cost?
Answers:
a) loss of $13.20
b) 25%
Click here to see answer by solver91311(24713)  |
Question 992260: Sight and Sound bought large-screen colour TV sets for $1080.00 less 33.33...% and 8.33...%. Overhead is 18% of regular selling price and required profit is 15.33...% of regular selling price. The TV sets were marked at a price so that the store was able to advertise a discount of 25% while still maintaining its margin. To clear the inventory, the remaining TV sets were marked down 37.5%.
a) What operating profit or loss is realized at the clearance price?
b) What is the realized rate of markup based on cost?
Answers:
a) loss of $13.20
b) 25%
Click here to see answer by solver91311(24713)  |
Question 992256: South Side Appliances bought bread makers for $180 less 40%, 15.83...%, and 10%. This store's overhead is 45% of regular selling price and the profit required is 21.25% of the regular selling price. During a year-end inventory clearance sale, the store marked down the bread makers by 30%.
a) What was the regular selling price?
b) What is the sale price?
c) What is the profit or loss during the clearance sale?
Answers:
a) loss of $239.53
b) $167.67
c) loss of $20.96
Click here to see answer by solver91311(24713)  |
Question 992255: The Knit Shoppe bought 250 sweaters for $3100; 50 sweaters were sold at a markup of 150% of cost and 120 sweaters at a markup of 75% of cost; 60 of the sweaters were sold during a clearance sale for $15 each; and the remaining sweaters were disposed of at 20% below cost. Assume all sweaters had the same cost.
a) What was the amount of markup realized on the purchase?
b) What was the percent markup realized based on cost?
c) What was the gross profit realized based on selling price?
Answers:
a) $2152.40
b) 69.43%
c) 40.98%
Click here to see answer by solver91311(24713)  |
Question 992253: A retailer buys an appliance for $1480 less 25% and 15%. The store prices the merchandise at a regular selling price to cover expenses of 40% of the regular selling price and a net profit of 10% of the regular selling price. During a clearance sale, the appliance was sold at a markdown of 45%. What was the operating profit or loss?
Answer:
loss of $660.45
Click here to see answer by solver91311(24713)  |
Question 992252: A hardware store paid $33.45 for a set of cookware. Overhead expense is 15% of the regular selling price and profit is 10% of the regular selling price. During a clearance sale, the set was sold at a markdown of 15%. What was the operating profit or loss on the sale?
Answer: loss of $2.23
Can you show me the steps? I'm in first year of college, btw.
Click here to see answer by solver91311(24713)  |
Question 992347: Vassar was renting a high performance bicycle for his Olympic training .bicycle a is $ 25 per month and requires a down payment of $500 per month rent and requires a down payment $200 .how many months would Vassar need to rent the bikes in order for the total cost to be the same?
Click here to see answer by stanbon(75887) |
Question 992354: can anyone solve this by Gaussian elimination PROCEDURE?
A COMPANY PRODUCE 3 products each of which must be processed through three different departments.
DEPARTMENT P X PY PZ HOURS AVAILABLE PER WEEK
A) 2 3.5 3 1200
B) 3 2.5 2 1150
C) 4 3 2 1400
SUMMARIZE THE HOURS REQUIRED PER UNIT OF EACH PRODUCT IN EACH DEPARTMENT?
Click here to see answer by stanbon(75887) |
Question 992358: Vedanta is holding a local dance for the community . he pays $125 to rent the local firehouse for the evening .he must also pay $3 for insurance for every guest at the party . if he changes $8 for entry to the dance , how many ticket must he sell in order to recover all the money he has to pay?
Click here to see answer by solver91311(24713)  |
Question 992430: can any one solve this question i tried but do not know where i am wrong?
A company produces three products each of which must be processed through three departments
DEPARTMENT X Y Z MONTHLY LABOR HOURS
A) 4 5 2 1600
B) 3 2 3 800
C) 1 4 2 1800
SUMMARIZE THE HOURS REQUIRED PER UNIT OF EACH PRODUCT.......
ITS URGENT KINDLY HELP ME....
Click here to see answer by josgarithmetic(39617) |
Question 992432: CAN ANY ONE SOLVE IT BY GAUSSIAN ELIMINATION METHOD?
A blending process is to combine three components in such a way as to create a final blend of 60000 gallons.The three components cost $2.00,$1.50 and $1.25 per gallon respectively.Total cost of components should equal $90000.Another requirement in the blending is that the number of gallon used of component 1 should be twice the amount used of component 3.determine whether there is a combination of the three components which will lead to a final blend of 60000 gallon costing $90000 and satisfying the blending restrictions
kindly help
Click here to see answer by josgarithmetic(39617) |
Question 992527: in a week katie volunteers 3 hrs more than elizabeth do's and siobhan volunteers 1 hour less than elizabeth. over 3 weeks the number of hours katie volunteer is equal to the sum of elizabeth and siobhan volunteer hours in 3 weeks
Click here to see answer by Timnewman(323)  |
Question 992564: Wendy took a trip from one city to another, a distance of 600 mi. She traveled part of the way by bus, which arrived at the train station just in time for Wendy to complete her journey by train. The bus averaged 50 mi/h, and the train averaged 75 mi/h. The entire trip took
9 and a half hours
How long did Wendy spend on the train?
Click here to see answer by ankor@dixie-net.com(22740)  |
Question 992738: I have been really stuck on this problem for a while.
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Suppose your parents want to buy a house for $200,000. They have $20,000 for a down payment.Their mortgage will have an annual interest rate of 6%. The loan is to be repaid over a 30-year period.
a. How much will your parents have to borrow?
b.How many monthly payments would there be?
c.What will the monthly payment be?
Click here to see answer by Theo(13342)  |
Question 992679: Three debts, the first for $1000 due two months ago, the second for $1200 due in two months, and the third for $1400 due in four months, are to be paid by a single payment today. How much is the single payment if money is worth 8.25% p.a. and the focal date is today?
Answer: $3560.00
Click here to see answer by Theo(13342)  |
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