Instructions
1. You have ten problems to evaluate - one on each tab of this Excel file.
2. Please show your work in the cells. Use Excel formulas instead of writing the values/answers directly in the cell.
The instructor will then know where you made a mistake and provide you valuable feedback and partial credit (if appropriate).
3. The grey cells are data values given in the case study scenarios which you must enter.
4. The yellow cells are unknowns and should be determined using formulas.
Total Points: 6
PROBLEM 1
Nordstrom plans to mark up a Brahmin Croc Embossed Laptop Case $130.50 over cost, which is a 58% markup
based on the cost. Find the cost, the selling price, and the rate of the selling price.
PROBLEM 2
Ronin Copies marks up signs that sell for $49. The markup is 80% based on the selling price.
What is the cost and the amount of markup of a sign?
PROBLEM 3
Lowe's reduced a Maytag dishwasher 12.563%. If the dishwasher was priced at $398,
find the amount of markdown and the reduced price.
PROBLEM 4
Fresh Food Market pays $0.25 per pound for 300 pounds of
apples. On average, 5% of the apples will spoil before they
sell. Find the selling price per pound needed to obtain a 180%
markup on cost.
PROBLEM 5
Find the net price of the PC software SystemWorks that lists for $70 and has a discount rate of 12%.
Use the system of complements.
PROBLEM 6
similar furniture of the same quality. The first company lists a dining room table and six
chairs for $1,899. The other company lists a similar set for $1,800 and a trade discount
series of 5/5/10. Which deal is better?
PROBLEM 7
PlumbingStore.com buys one model of tankless water heater that has a list price of $395.
The trade discount is 18%. What is the trade discount and net price of the heater?
PROBLEM 8
Federated Department Stores received an invoice dated April 18 that shows a billing for
$3,848.96 with terms 2/10, 1/15, n/30. Find the cash discount and net amount if the invoice
is paid within 15 days but after 10 days.
PROBLEM 9
Office Max purchased office furniture in the amount of
$89,517 and was invoiced with terms of 2/10, n/30. Cash
strapped at the time, Office Max decided to make a partial
payment of $50,000 within 10 days. How much should be
credited to its account? What is the outstanding balance?
PROBLEM 10
Curves Fitness Center received an invoice for $3,097.15 that
was dated September 8 with terms of 3/15 ROG. The goods
being invoiced arrived on September 12. By what date must
the invoice be paid to get the cash discount? How much
should be paid?
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