Chapter 17: Read p. 260 - 261 and answer the following questions about Cash Discounts: I. Assume that a customer called for a merchandise quote on 4/13/12, purchased the merchandise on 4/1 7/12, and received the merchandise and a $500 invoice on 4/22/12 (3/10, n/45; FOB destination, invoice prepared and dated 4/18/12): a. What does "3/10, n/45" mean? b. By what date does the customer have to pay the invoice in order to receive the discount? What is the amount due assuming the customer pays within the discount period? c. Chapter 18: Read p. 477-480 and answer the following questions 2. A pair of socks is sold for $2.50. The retailer added S.50 to the original cost. What was the cost of the socks to the retailer? (S) 3. A retailer marks up all products by 75 percent. If the cost of a box of chocolates is $4, what is its selling price? (based on markup on selling price-S) 4. If a retailer wanted to mark-up their product by 50% (assuming the cost of their product was $72 what would be the selling price of its product? (based on markup cost S) Chapter 18: p. 484-485. From the following break-even chart, answer the following questions: Line CostRevanue Line 8 Line A Sades (Unita) 5. Define the following items on the above chart Line A Line C Area EArea D Line B Point F 6. 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)