Mathematics of Buying and Selling Exercises

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User Generated

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znlb3434

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Business Finance

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Purpose of Assignment

The purpose of the assignment is to provide students an opportunity to use Microsoft Excel^® to practice the concepts of trade discounts, invoicing, markups, and markdowns.

Assignment Steps

Resources: Mathematics of Buying and Selling Exercises Excel^®Template, Excel^® 2016 Essential Training

Save the Mathematics of Buying and Selling Exercises Excel^®Template to your computer.

Read the instructions on the first tab.

Complete the ten exercises located in the template.

Click the Assignment Files tab to submit your assignment

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Instructions: Week 3 Individual Assignment Total Number of Questions - 10 Total Points: 6 1. You have ten problems - 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 appropria back and partial credit (if appropriate). Nordstrom plans to mark up a Brahmin Croc Embossed Laptop Case $130.50 over cost, which is a 58% markup based on the cost. Find the cost, the selling price, and the rate of the selling price. Amount Cost + Markup = Sell Price % ch is a 58% markup Ronin Copies marks up signs that sell for $49. The markup is 80% based on the selling price. What is the cost and the amount of markup of a sign? Amount Cost + Markup = Sell Price % Lowe’s reduced a Maytag dishwasher 12.563%. If the dishwasher was priced at $398, find the amount of markdown and the reduced price. Amount Original SP ‒ Markdown = New Price % Fresh Food Market pays $0.25 per pound for 300 pounds of apples. On average, 5% of the apples will spoil before they sell. Find the selling price per pound needed to obtain a 180% markup on cost. Unit Price Quantity Cost =Unit Price*Quantity Amount Cost + Markup = Sell Price Proportion to spoil Proportion to be sold Pounds expected to sell Selling Price per pound % Find the net price of the PC software SystemWorks that lists for $70 and has a discount rate of 12%. Use the system of complements. List Price Trade Discount % Net Price Rate Net Price Dylan Murphy currently receives a trade discount series of 5/10/10 on merchandise purchased from a furniture company. He is negotiating with another furniture manufacturer to purchase similar furniture of the same quality. The first company lists a dining room table and six chairs for $1,899. The other company lists a similar set for $1,800 and a trade discount series of 5/5/10. Which deal is better? 5/10/10 List Price 1st Trade Discount 2nd Trade Discount 3rd Trade Discount Net Decimal Equivalent (don't round) Net Price (using Net Decimal Equivalent) Single Discount Equivalent (don't round) Trade Discount $ Net Price (using Trade Discount) 5/5/10 PlumbingStore.com buys one model of tankless water heater that has a list price of $395. The trade discount is 18%. What is the trade discount and net price of the heater? List Price Trade Discount % Net Price Rate Net Price Federated Department Stores received an invoice dated April 18 that shows a billing for $3,848.96 with terms 2/10, 1/15, n/30. Find the cash discount and net amount if the invoice is paid within 15 days but after 10 days. Terms on Invoice Date on Invoice No. of days within which the Invoice was paid Date by which the Invoice was paid Cash Discount % Number of days to take advantage of 2% discount Final Date Invoice must be paid to get 2% discount Can Federated get a 2% discount? Cash Discount % Number of days to take advantage of 1% discount Final Date Invoice must be paid to get 1% discount Can Federated get a 1% discount? Price on Invoice Cash Discount Amount ($) Net Amount (Method 1 using Cash Discount) Net Amount (Method 2 using Complements) Office Max purchased office furniture in the amount of $89,517 and was invoiced with terms of 2/10, n/30. Cash strapped at the time, Office Max decided to make a partial payment of $50,000 within 10 days. How much should be credited to its account? What is the outstanding balance? Terms Cash Discount % Invoice total Partial payment made before discount date Amount Credited Amount Still Due On Account Curves Fitness Center received an invoice for $3,097.15 that was dated September 8 with terms of 3/15 ROG. The goods being invoiced arrived on September 12. By what date must the invoice be paid to get the cash discount? How much should be paid? Invoice Date Date Goods are Received Terms # of Days we have to take advantage of the discount Final Date to take Discount Invoice Total Cash Discount % Cash Discount $ Total Paid
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Explanation & Answer

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Instructions:
Week 3 Individual Assignment
Total Number of Questions - 10
Total Points: 6

1. You have ten problems - 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 appropria

back and partial credit (if appropriate).

Nordstrom plans to mark up a Brahmin Croc Embossed Laptop Case $130.50 over cost, which is a 58% markup
based on the cost. Find the cost, the selling price, and the rate of the selling price.

Cost
+ Markup
= Sell Price

solution
finding the cost
58% = 130.50
100% =
100 * 130.50 / 58
225
finding selling price
cost = selling price - mark up
selling price = cost + mark up
130.50 + 225 = 355.50

rate of selling price
130.50 / 355.50 * 100
0.3671

Amount
$225.00
$130.50
$355.50

%
100.0%
58.0%
158.0%

Ronin Copies marks up signs that sell for $49. The markup is 80% based on the selling price.
What is the cost and the amount of markup of a sign?

Cost
+ Markup
= Sell Price
finding the mark-up
mark-up % = mark -up amount / selling price
80% = mark-up amount / 49
39.2

find the cost
cost = 49 - 39.2
9.8

Amount
$9.80
$39.20
$49.00

%
20.0%
80.0%
100.0%

Lowe’s reduced a Maytag dishwasher 12.563%. If the dishwasher was priced at $398,
find the amount of markdown and the reduced price.

Original SP
‒ Markdown
= New Price

find the mark down
100% =...