Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Home Furniture buys a lamp for $130 each less a 10% discount. Expenses are 22% of cost and the profit is 14% of cost. a.

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
Home Furniture buys a lamp for $130 each less a 10% discount. Expenses are 22% of cost and the profit is 14% of cost. a. What is the cost? b. What is the amount of the expenses? c. What is the amount of profit? d. What is the selling price? Round all answers entered below to two decimal places (if necessary). a. Cost = b. Expenses = $ Enter an integer or decimal number [more.] c. Profit = d. Selling Price = $Home Hardware paid $69 for a particular type of drill. Expenses are 18% of cost and the profit is 20% of cost. Round the answers to the nearest cent if necessary. 1) What is the regular selling price? 2) To help clear inventory, the drill was sold at break-even during a sale. What is the break-even selling price?The figure below shows graphs of the fixed cost function, total cost function and the total revenue function for a certain commodity. 7000- 6000 5000 4000 Dollars (8) 3000 2000 1000 -10 10 20 30 40 50 60 70 80 Units (a) What is the break-even point? 50,2000 nvalid notation. enter the answer in the form (x,y) e.g. (295,7650) (b) What are the fixed costs? $ (c) If the maximum production capacity of the commodity is 80, express the break-even units as a percent of capacity. Percent of capacity % (round to two decimal places if necessary)The Cook's Paradise paid $138 for a kitchen knife set. Expenses are 25% of selling price and the required profit is 14% of selling price. Round ALL answers to the nearest cent if applicable. 1) What is the regular selling price? 2) What is the break-even selling price? 3) During an inventory sale, the knife set was marked down 17% on the regular selling price. What is the sale price? 4) What is the operating profit or loss during the inventory sale (use a negative sign (-) for a loss)?Complete the following table. Show solutions correct to two decimal places. % Markup Markup % Markup Based Cost Selling Price Based on Amount on Selling Price Cost $84 20% %A company sells one of its products for $10.00 per unit. Its fixed costs are $720.00 per month, and the variable cost per unit is $2.80. (a) The contribution margin per unit is $ (rounded to the nearest cent). (b) The break-even volume, i.e., the level of output at break-even, is units per month. (If necessary, round up to the next whole number of units.) (c) The profit at a monthly output level of 220 units is $ (rounded to the nearest cent).Delaney recieves an invoice from Home and Farm Supply dated June 1st, 2014 for $900 with terms 6/8, 2/17, n/29. If Delaney pays the invoice in full on June 26th, 2014, a. How many days were there between the date of the invoice, and when the invoice was paid? b. How much is the amount of the discount? c. How much was paid? Number of days = Amount of Discount = $ (rounded to the nearest cent) Payment = (rounded to the nearest cent)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Basic Mathematics With Early Integers

Authors: Charles P McKeague

1st Edition

1936368978, 9781936368976

More Books

Students also viewed these Mathematics questions

Question

Assess the likely future of the UKs Accounting Standards Board?

Answered: 1 week ago

Question

3. An initial value (anchoring).

Answered: 1 week ago

Question

4. Similarity (representativeness).

Answered: 1 week ago