PROBLEM 1 You are the buyer of steel plate for a large steel distributor. You ar
ID: 344100 • Letter: P
Question
PROBLEM 1 You are the buyer of steel plate for a large steel distributor. You are looking for a supplier of steel plate that your salespeole could sell in the marketplace for $825 per metric ton. If your objective is a 20% markup based on selling price, what is the most that you can pay for the steel per ton to still get the desired markup? PROBLEM 2 City Electrical Distributor is looking for a new line of 60 watt solar panels to retail for $220.00 If management wants a 25% markup based on selling price, what is the most that can be paid for a solar panel to still get the desired markup? PROBLEM 3 ABC Medical, a medical distributor of hospital beds, purchases its beds from a manufacturer for $2,600 If the distributor's policy is to mark up all merchandise 20% based on selling price, what would be the selling price of the beds to hosptials? PROBLEM 4 Crystal Auto Supply purchases water pumps from the distributor for $44.50 each If Crystal adds a 110% markup based on cost, at what retail price should the pumps be sold? PROBLEM 5 An electrical switch has a cost of $100.00 and a selling price of $160.99 a. What is the amount of markup on the switch? b. What is the percent markup based on cost? (Round your final answer to the nearest tenth.) c. What is the corresponding percent markup based on selling price? (Round your final answer to the nearest tenth.) PROBLEM 6 A distributor of airplane components purchases wiring systems for $57.00 each A $14.50 markup is added to the systems a. What is the selling price? b. What is the percent markup based on cost? c. What is the percent markup based on selling price? PROBLEM 7 Medical Supply Inc. sells a spinal screw for $625 to hospitals. If a 70% markup based on cost is added, what is the cost of the spinal screw? PROBLEM 8 Legacy Designs places an order for furniture listing for $81,400 less trade discounts of 30/25 a. What is the net price factor? b. What is the net price of the order? PROBLEM 9 The Speedy Auto Service Center can buy auto parts from Southeast Auto Supply at a series discount of 30/15/5 and from Northwest Auto Supply for 25/15/8 a.Which auto parts supplier offers a better deal to Speedy? b. If Speedy orders $25,000 in parts at list price per month, how much will they save in a month by choosing the lower-priced supplier (versus the alternative)? PROBLEM 10 Midtown Distributor received the following items at a discount of 20/15/12 16 cases of electrictal pressure switches listing at $112.40 per case and 40 cases of temperature switches listing at $213.50 per case a. What is the total list price of this order? b. What is the amount of the trade discount? c. What is the net price of the order?Explanation / Answer
Answer 1) Let the desired number be 'x'. So according to the given problem
120% of x = $825 per ton
So, x = (825) *(100/120)
X = $687.5
Answer 2) Let the required price be ‘X’.
So as per the problem,
125% of X = $220
So, X= (220) *(100/125)
X= $176.
Answer 3) Let cost price be X. I.e. X=$2600
So as per the problem,
20% of X + X =?
Which becomes $3120.
Answer 4) Let cost price be X. I.e. X=$44.50
So as per the problem,
110% of X + X =?
Which becomes $93.45.
Answer 5) Cost price= $100
Selling price =$160.99
Which is = $60.99
Answer 6) a) S.P = C.P + Markup = $57.00 + $ 14.50
Which equals $ 71.50.
b) Markup based on cost = 24.43%
c) Markup based on S.P = 20.27%
Answer 7) Let the required price be ‘X’.
So as per the problem,
170% of X = $625
So, X= (625) *(100/170)
X= $367.6
Answer 8) a) Net price factor = (30/100) *(25/100) *81,400
b) Net price= $42,735
Answer 9) a. Northwest Auto supply offers the better deal to Speedy by overall discount of 47.5% approx. whereas Southeast auto supply gives an overall discount of approx. 42 %
b. He will save $11,875 approx. with the lower-priced supplier while with the other one he will save approx. $10,625.
Answer 10) a. total list price of the order: $ 10338.4
b. the amount of trade discount = $ 4151.90
c. Net price of the order= $ 6186.5
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.