Week 3 Trade and Cash Discount Cases Grading Guide 2 pts per cell for correct entry in cell + up to 4 pts for Case 8-1, question 4, Case 8-3, question 5 1 pt per cell for incorrect entry in cell -0.5 for each cell that should use a formula but doesn't 0 pts per cell if no entry in cell Case Question 8-1 (p. 305) 1 9 18 Cells w/Formulas 5 2 6 12 3 3 10 20 6 4 3 6 1 4 0 13 26 4 #Cells Pts Possible Unfair Practices 8-3 (p. 306) 1-2 Pts Missed 3 14 28 6 4 10 20 4 5 11 22 156 5 34 Deduction SubTotal Days late Total Percentage: Contribution to team: Percentage earned: Points available: Points earned: 0 0 Missing Formulas Pts Earned 0 0 0 0.0% 0.0% 6 0.0 Instructions 1. You have two cases to evaluate - one on each tab of this Excel file. 2. Please show your work in the cells. Use Excel formulas instead of writing the values/answers directly in the cell. The instructor will then know where you made a mistake and provide you valuable feedback and partial credit (if appropriat 3. The grey cells are data values given in the case study scenarios which you must enter. 4. The yellow cells are unknowns and should be determined using formulas. Total Points: 6 Updated: 8/27/17 y in the cell. artial credit (if appropriate). Case 8.1 Chapter 8 Page 305 of your text Text: Business Math, Eleventh Edition Case 8.1 Image Manufacturing's Rebate Offer Part 1 Current Order Unit Price Additional number of pieces moved from another company Total Order Total Cost for the order Rebate (%) Rebate ($) for the total order Total discounted price Discounted cost per piece 15,000 hinges per month $3.00 each 5,000 20,000 hinges per month ---> Current Order + Additional num $60,000 =Total Order*Unit Price 5% --> This number should be a percentage. $3,000 =Rebate %*Total Cost for the order $57,000 =Total Cost minus Rebate $2.85 =Discounted Price/Total Order Part 2 New order quantity Unit Price Total Cost for the order hinges per month each =New Order Quantity*Unit Price Rebate (trade discount) ($) Total rebate for the order per piece =Rebate($)*New order quantity Discount (%) =Total rebate/Total cost for the order New order quantity Unit Price Total Cost for the order pieces per month each =New Order Quantity*Unit Price Rebate (trade discount) ($) Total rebate for the order Net amount before cash discount =Rebate($)*New order quantity =Total cost - Total rebate for the order Cash discount (%) Cash discount ($) =Cash Discount (%)*Net amount before cash discoun Part 3 Total concession (rebate + cash discount) $ Net Price ($) Part 4 Total cost - Total concession Unit Price Rebate (trade discount) ($) Rebate (%) =Rebate($)/Unit Price Describe a minimum of 90 words if you think other Image Manufacturing customers may claim unfair trade practice > Current Order + Additional number moved uld be a percentage. st for the order y*Unit Price der quantity ost for the order y*Unit Price der quantity bate for the order Net amount before cash discount s may claim unfair trade practices? Why? Why not? Case 8.3 Chapter 8 Page 306/307 of your text Text: Business Math, Eleventh Edition Case 8.3 The Artist's Palette Parts 1 and 2 Supplier 1 Supplier 2 List Price First Trade Discount % Second Trade Discount % Third Trade Discount % Net Decimal Equivalent Net Price =(1 - 1st Trade Discount%)* =(Net Decimal Equivalent)* Recommendation Choose one Part 3 List Price First Trade Discount % Second Trade Discount % Third Trade Discount % Net Decimal Equivalent Single Trade Discount Trade Discount ($) Supplier 1 $300 20% 10% 5% Supplier 2 $300 18% 12% 7% =(1 - 1st Trade Discount%)* =1-Net Decimal Equivalent Part 4 Terms # of Days to take the discount Date on invoice Final Date to take Discount Invoice Total Eligible for discount Cash Discount % Cash Discount $ Total Amount Due Sept 26 Amount saved by paying early 2/10, n/30 10 9/16/2017 9/26/2017 =C30 + C31 250.00 yes (Yes or No) 2% $5.00 types =C33*C35 $245.00 =Invoice Total - Cash Discount $ $5.00 =Invoice Total - Total Amount Due Sept 26 typed =C33-C37 Part 5 Date on Invoice Terms No. of days to take advantage of discount Final Date to Take Discount Date on Invoice =C42 + C44 Terms Was the Date on Invoice before 26th? End of CURRENT Month Days Past End of the Month Final Date to Take Discount (Yes or No) -- Use EOMONTH function -- You want the invoice to be paid in the first 1 =C50 + C51 Date on Invoice Terms Was the Date on Invoice before 26th? End of NEXT Month Days Past End of the Month Final Date to Take Discount (Yes or No) -- Use EOMONTH function -- You want the invoice to be paid in the first 1 =C57 + C58 If you were an art student, which method would you prefer? Choose one - 1st Trade Discount%)*(1 - 2nd Trade Discount%) * (1 - 3rd Trade Discount%) Net Decimal Equivalent)*(List Price) - 1st Trade Discount%)*(1 - 2nd Trade Discount%) * (1 - 3rd Trade Discount%) Net Decimal Equivalent Amount Due Sept 26 e to be paid in the first 10 days of NEXT month e to be paid in the first 10 days of NEXT month