Assume that a customer called for a merchandise quote on 4/13/19, purchase the merchandise on 4/17/19, and received the merchandise and $500 invoice on 4/22/19(3/10,n/45;FOB destination, invoice prepared and dated 4/18/19) : 1. What does " 3/10,n/45 mean? 2. By what date does the customer have to pay the invoice in order to receive the discount? (\#) 3. What is the amount due assuming the customer pays within the discount period? (\$) 4. If Zowie's Widget Retailer had a product that had a MSRP price of $200 and initiated a trade/ functional/ chain discount of 40/30/10 to a given customer, what would be the price of Zowie's product to the customer (their purchase price - \$) In the following scenarios, calculate the answers related to the way retailers tend to calculate markups: 5. A pair of socks is sold for $2.50. The retailer added $.50 to the original cost. What was the cost of the 6. A retailer marks up all products by 75 percent. If the cost of a box of chocolates is $4, what is its selling price? 7. If a retailer wanted to mark-up their product 50% (assuming the cost of their product was $72 ), what would be the selling price of its product? (based on markup on cost) Compute the answers to the questions below 14. If total fixed costs are $20,000, the selling price is $12, and the variable cost (per unit) is $7, what is the BEP in units? (\#) 15. In relation to Question \#14, what is the amount of total variable costs at BEP? (\$) 16. In relation to Question \#14, what will be the sales at BEP? (\$) 17. In relation to Question \#14, if you as the manager desire a $100,000 profit this year, how many units will you have to sell in order to reach this objective? (\#)