UIAWUER Tor Chapter 2,4 1. A copy machine cost $2,990, after a discount of 30/12/5. What was the original list price of this machine? Round to the nearest cent. 2. Fa
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Hi student
Since there are multiple questions, we will answer only first question. If you want remaining question to be answered, please resubmit and specify the same.
Sellers are the persons who sells their products to the customers. Buyers are the persons who purchases and buys their product from the sellers.
Sellers provide various type of deductions and allowances to the buyers in order to persuade them. These are known as sales discounts.
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- If a home goods retailer pays $32.50 for the vacuum cleaner shown here, answer the following questions. (Round dollars to the nearest cent and percents to the nearest tenth of a percent.) 12-AMP POWERVAC PLUS $899 • Microfiltration • On-board tools 1-yr. Product Replacement Policy, $7.99 (a) What is the percent markup based on selling price? 63.7 % (b) If the retailer pays $1.40 to the insurance company for each product replacement policy sold, what is the percent markup based on selling price of the vacuum cleaner and policy combination? % (c) If 6,000 vacuum cleaners are sold in a season and 40% are sold with the insurance policy, how many additional "markup dollars," the gross margin, were made by offering the policy? $ |(d) As a housewares buyer for the retailer, what is your opinion of such insurance policies, considering their effect on the "profit picture" of the department? How can you sell more policies?PROBLEMS Problem 2-1 (IAA) Miracle Company manufncturers a product that is packaged and sold. A plate is offered to customera sending in three wrappers nccompanied by a remittance of P10. Data with respect to the premium offer are summarized below. 2020 2021 Sales Purchane of premium, P50 per plate Number of plates distributed an premiuma Estimated number of plates to be distributed in subsequent period Distribution cost P20 per plate 3,600,000 390,000 5,000 4,200,000 580,000 9,000 2,000 3,000 Required: Prepare journal entries that would be made in 2020 and 2021 to record sales, premium purchases and redemptions, and year-end adjustments. Problem 2-2 (IAA) Cascade Company manufactures a special laundry soap. A towel is offered as a premium to customers who send in two proof-of-purchase seals from the soap boxes and a remittance of P20. Distribution cost is P5 per'towel. Data for the premium offer are. 2020 2021 Soap sales Towel purchases, P100 per towel Number of towels distributed as…Good morning, Please answer questions Patsy Smith is planning to sell her special knife for $15 per unit. She purchases units from alocal distributor for $6 each. She can return any unsold units for a full refund. Fixed costs forbooth rental, including lighting and security is $4500.Requireda) Compute the breakeven point in units sold. b) Suppose the unit purchased is $5 instead of $6, the fixed cost increases by $500, butthe selling price is unchanged. Compute the new breakeven point in units sold. c) Using the above data, explain how cost behaviour affects Patsy Smith’s decisionmaking?
- Terms of SaleE5B. A household appliance dealer buys refrigerators from a manufacturer and resellsthem to its customers.a. The manufacturer sets a list or catalogue price of $2,500 for a refrigerator. The manufacturer offers its dealers a 30 percent trade discount.b. The manufacturer sells the machine under terms of FOB destination. The cost ofshipping is $240.c. The manufacturer offers a sales discount of 2/10, n/30. Sales discounts do not applyto shipping costs.What is the net cost of the refrigerator to the dealer, assuming it is paid for within 10days of purchase?Calculate the net payment due if the shipment is received on January 10th and the payment is made on February 1st. Darla's Doll Repair February 12, 2021 Invoice No: 1234 To: Darla's Doll Repair Discount: 18/15/9 TOS: 3/10, n30ROG 567 5th Ave. Parks, WA Quantity: Description: Unit List Price: Line Total: 10 ea Doll head 12.99 12 ea Right arm 7.99 12 ea Left arm 7.99 Total List Price:If a home goods retailer pays $32.50 for the vacuum cleaner shown here, answer the following questions. (Round dollars to the nearest cent and percents to the nearest tenth of a percent.) An advertisement has a picture of a vacuum cleaner. From top to bottom, the text of the ad is as follows. 12 amp Powervac Plus $89.99 Microfiltration On-board tools 1 year Product Replacement Policy, $7.99 (a) What is the percent markup based on selling price? % (b) If the retailer pays $1.70 to the insurance company for each product replacement policy sold, what is the percent markup based on selling price of the vacuum cleaner and policy combination? % (c) If 6,000 vacuum cleaners are sold in a season and 40% are sold with the insurance policy, how many additional "markup dollars," the gross margin, were made by offering the policy? $ (d) As a housewares buyer for the retailer, what is your opinion of such insurance policies, considering their effect on the "profit picture" of…
- Crazy Cliff’s Computers (CCC) purchases computer parts from its suppliers 2/5, net 30. What is the effective annual cost of not taking the trade discount? Select one: a. 2.00% b. 2.04% c. 27.43% d. 34.31% e. None of the above.Question 5-price allocation Red Windows manufactures and sells custom storm windows for enclosed porches. Red also- provides installation service for the windows. The installation process does notinvolve changes in the windows, so this service can be provided by other vendors. Red enters into the following contract on 15 Jun 2020, with alocal homeowner. The customer purchases windows for a price of £7,500 and chooses Red to do the installation. Red charges the same price for the windows irrespective of whether it does the installation or not. The price of the installation service is estimated to have a fair value of £1,000. The customer pays Red £6,000 (which equals the fair value of the windows, which have a cost of £4,300) upon delivery and the remaining balance upon installation of the windows. The windows are delivered on 15 Jul 2020, Red completes installation on 4 Aug 2020, and the customer pays the balance due. e Required Prepare the journal entries for Red on all the dates…The Vacuum Shoppe purchases a Dyson V7 Motorhead Origin vacuum for $200 less 5% and 17.0%. Their regular selling price is $384.00. Overhead is 14% of the regular selling price. A scratched demonstrator unit from their floor display was cleared out for $250 What was the rate of markdown on the demonstrator unit? Your Answer:
- Anselmo's Engineering buys circuit boards with a list price of $38,000. If the supplier extends trade discounts of 41/31/11, what is the trade discount amount? A. $4,710.15 B.$8,289.85 C. $13,768.12 D. $24,231.88Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate co Levin Furniture buys a living room set with a $5,800 list price and a 50% trade discount. Freight (FOB shipping point) of $45 is not part of the list price. What is the delivered price (including freight) of the living room set, assuming a cash discount of 3/10, n/30, ROG? The invoice had an April 8 date. Levin received the goods on April 19 and paid the invoice on April 25. Delivered price 24 1495Anselmo's Engineering buys circuit boards with a list price of $32,000. If the supplier extends trade discounts of 42/32/12, what is the trade discount amount? a. $16,835.25 b. $15,170.00 c. $18,415.00 d. $20,893.70