Michaela, a college student, enjoyed this chapter in business mathematics and wanted to see for herself how a product moves through the merchandising cycle from a manufacturer to the consumer. During her summer holidays, she decided to study the merchandising cycle at her father's clothing store that was located in Delhi, Ontario.

Answer the following questions. Round to two decimal places unless otherwise instructed.

Question 1

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While she was at the store, it purchased 762 dress shirts that were listed for $50 each less trade discounts of 22%, 8%, and 3% from FXFusion in Vancouver. The store's operating expenses are 32% of cost and markup is 53% of cost.

The store sold 473 shirts at the regular selling price. During a sale, it offered a markdown of 22% and sold another 207 shirts. It sold another 82 shirts at the break-even price.

What is the cost per shirt? Answer must follow format of xx.xx rounded to 2 decimal places. Do not include the $ symbol.

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Question 2

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While she was at the store, it purchased 762 dress shirts that were listed for $50 each less trade discounts of 22%, 8%, and 3% from FXFusion in Vancouver. The store's operating expenses are 32% of cost and markup is 53% of cost.

The store sold 473 shirts at the regular selling price. During a sale, it offered a markdown of 22% and sold another 207 shirts. It sold another 82 shirts at the break-even price.

What is the total amount of discount received on the purchase of all 762 shirts from the manufacturer? Answer must follow format of xx.xx rounded to 2 decimal places and include appropriate units.

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Question 3

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While she was at the store, it purchased 762 dress shirts that were listed for $50 each less trade discounts of 22%, 8%, and 3% from FXFusion in Vancouver. The store's operating expenses are 32% of cost and markup is 53% of cost.

The store sold 473 shirts at the regular selling price. During a sale, it offered a markdown of 22% and sold another 207 shirts. It sold another 82 shirts at the break-even price.

What is the single equivalent rate of discount for the three discounts on the cost only? Answer must follow format of xx.xx rounded to 2 decimal places and include appropriate units.

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Question 4

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Marked out of 2.00

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While she was at the store, it purchased 762 dress shirts that were listed for $50 each less trade discounts of 22%, 8%, and 3% from FXFusion in Vancouver. The store's operating expenses are 32% of cost and markup is 53% of cost.

The store sold 473 shirts at the regular selling price. During a sale, it offered a markdown of 22% and sold another 207 shirts. It sold another 82 shirts at the break-even price.

What is the regular selling price per shirt? Answer must follow format of xx.xx rounded to 2 decimal places and include appropriate units.

Answer: