24. You are the manager of World Wide Athlete, a chain of six sporting goods shops in your area. The shops sell 12 racing bikes per week at a retail price of $679.99. Recently, you put the bikes on sale at $599.99. At the sale price, 15 bikes were sold during the one- week sale. 23: a. What was your markdown percent on the bikes?
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- You are the manager of World Wide Athlete, a chain of six sporting goods shops in your area. The shops sell 10 racing bikes per week at a retail price of $679.99. Recently, you put the bikes on sale at $599.99. At the sale price, 12 bikes were sold during the one week sale. (a) What was your markdown percent on the bikes? (Round your answer to one decimal place.) % (b) What is the percent increase in number of bikes sold during the sale? % (c) How much more revenue (in $) would be earned in 6 months by permanently selling the bikes at the lower price rather than having a 1 week sale each month? (6 sale weeks in 26 weeks.) $ more revenue (d) As manager of World Wide Athlete, would you recommend this permanent price reduction? Explain. (Just consider revenue, ignore cost.) Yes, permanent markdown increases revenue significantly.No, permanent markdown decreases revenue significantly. No, permanent markdown does not change revenue.The shops sell 13 racing bikes per week at a retail price of $657.53. Recently, you put the bikes on sale at $574.92. At the sale price, 17 bikes were sold during the one-week sale.What was your markdown percent on the bikes?What is the percent increase in number of bikes sold during the sale?How much more revenue would be earned in six months by permanently selling the bikes at the lower price rather than having a one-week sale each month? (6 sale weeks in 26 weeks)Use the following information to answer questions 19 through 30: Currently, OET Corporation sells 350,000 units of widgets a month at a price of $21 a unit. The company currently has a net 30 credit policy. Mr. Ent, the company's financial manager, is evaluating a new credit policy of net 60 for the company. The marketing manager thinks that sales would increase by 10,000 units per month if the company were to switch to the new credit policy. The APR for OET is 13% compounded monthly, and its variable cost per widget is $12. Ignore taxes. Tomorrow, Mr. Ent will be making a presentation on the new proposed credit policy to the CEO of OET. He will be expected to provide answers to the following questions Describe how you would calculate the net present value of the proposed credit policy switch.
- A vendor prepares 100 hotdogs every day and sells at $20/piece. For each hot dog, he spends $12 in the raw material. Additionally, he spends $1 for packing each hotdog and monthly $50, $20, $10 as food truck rent, electricity and other expenses respectively. On a particular day in June it rained heavily so vendor was able to sell only 80 hot dogs. For finishing the stock, he sold remaining hotdogs for $5/piece. Determine vendor’s profit for that day? Assume there are 30 days in the month. Question 8 options: 1) $97.3 2) $397.4 3) $197.4 4) $200Levon sells cartoon balloons in town. His family business thrives. Levon's balloons are priced at $7.00 each and sells 394 balloons each month. His largest competitor, Paul, sells 775 balloons each month at a price of $3.00 each. Levon estimates the total balloon market in town to be 2000 per month at an average price of $5.00 per balloon. What is Levon's unit market share? *Answer has to be in percent*A watch store owner decide to offer a 20% discount for a particular brand of watch which sells at ₱ 35,000.00. By doing so, his average sales increased from 5 watches to 12 watches a day. If he bought one watch at a price of ₱ 22,000.00 from the supplier, how much is the average daily sales of watch without giving 20% discount?
- 1. Banner House Inc. gives all its sales people a base salary of $39,000 per annum and a commission of 8% on all banners that they sell over $5,000. Calculate Courtney's salary last month if she sold $11,000 worth of banners. 2. Patrick, a sales representative at a jewelry store, receives a 2.00% commission for the first $10,000 in sales she makes, 4.00% for the next $30,000, and 6.00% thereafter. If she was paid $2,500.00 in commissions last month, calculate the amount of sales she made. 3. Jesse works for a clothing boutique store as a salesperson. She receives a monthly base salary of $900 and earns a commission on sales over $20,000. If she earned $8,000 last month and she made $110,000 in sales, calculate her commission rate.The Widget Co. currently sells 800 widgets per week for a price of $7.00 each. Their market research indicates that for each $0.50 increase in price they will sell 25 fewer widgets per week. What price should they charge to maximize sales income?The campus store at a large Midwestern university sells writing tablets to students, faculty, and staff. They sell more tablets near exam time. During a typical 10-week quarter, the pattern of sales is 2,280, 1,120, 360, 3,340, 1,230, 860, 675, 1,350, 4,600, 1,210.The pads cost the store $1.20 each, and holding costs are based on a 30 percent annual interest rate. The cost of employee time, paperwork, and handling amounts to $30 per order.Assume 50 weeks per year.a. What is the optimal order policy during the 10-week quarter based on the Silver–Meal heuristic? Using this policy, what are the total holding and ordering costs incurred over the 10-week period?b. The bookstore manager has decided that it would be more economical if the demand were the same each week. In order to even out the demand he limits weekly sales (to the annoyance of his clientele). Hence, assume that the total demand for the 10-week quarter is still the same, but the sales are constant from week to week. Determine…
- Manuel Romo sell tires at the local shopping mall. Romo earns 20 percent commission on the first $500, 25 percent on the next $1,000 and 30 percent on sales over $1,500. Last weekend he sold $1,940 worth of tires. What is his total commission?The flowers cost the store $9.50 for each arrangement. The vase costs $8. The florists are paid $12 an hour, and they can make about three of these arrangements per hour, so labor cost is about $4 per arrangement. Rent for the store and overhead expenses for utilities and salaries for sales people and executives total about $125,000 per year. Based on market conditions and an analysis of demand, Pete expects to be able to sell 3,000 arrangements in one year. He would like to achieve a return on sales of 12%. Estimate the Break-Even point (in number of arrangements) for three prices: $60 $70 $80 Calculate the unit cost of each arrangement at three demand levels: 2,500 arrangements 3,000 arrangements 3,500 arrangements Calculate the cost-plus price based on a return of 0% and based on a return of 12%, based on Pete’s demand estimation of 3,000 arrangements per year. Would you expect flowers to be price elastic (i.e., consumers are relatively price sensitive) or…Olsen Auto Supply typically earns a contribution marginratio of 40 percent. The store manager estimates that by spending an additional $5,000 per month for radio advertis-ing the store will be able to increase its operating income by $3,000 per month. The manager is expecting the radioadvertising to increase monthly dollar sales volume by:a. $12,500. c. $7,500.b. $8,000. d. Some other amount.
