Question
Sheffield Industries purchases Solvate, a chemical compound used in several of its products, from ChemMaster. ChemMaster has just increased the list price of Solvate to
Sheffield Industries purchases Solvate, a chemical compound used in several of its products, from ChemMaster. ChemMaster has just increased the list price of Solvate to $8.00 per gallon. However, because Sheffield purchases a high volume of Solvate, ChemMaster grants the company a 10% discount off the list price. Charges for shipping Solvate from ChemMaster to Sheffield's factory are $700 for a shipment of twenty-five 50-gallon drums. Special storage requirements cost $0.70 per gallon. Calculate Sheffield's standard price for a gallon of Solvate. (Round answer to 2 decimal places, e.g. 3.51.)
Standard price per gallon | $enter the standard price per gallon in dollars rounded to 2 decimal places |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started