A pharmacist orders medication for a total of $6439.65. A 6 1/4% discount is given if payment is made within 15 days, and 82.5% discount is given if payment is made within 30 days. How much money can be saved by paying in 15 days instead of 30 days?
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- LYD Corp. receives an order from a new customer, amounting $55,000. LYD Corp. uses 45-day credit terms as a standard. The Variable Cost Ratio is 75.00% of Sales, Collection Expense Ratio 15.00% of Sales and the Interest Rate is 13.00% (365 days per year). Instruction: (show your calculations and round to 2 decimal places) Should the order be accepted? Defend your answer. Please ASAPQuick Depot buys tools from a supplier with an invoice amount of $19,700. The terms of the sale are 15/15, n/30. What is the net amount due on the order if the bill is paid by the 15th day?Mabelline sells lipstick. The Mabelline Company offers a 6% discount on orders of at least 500 tubes, a 10% discount on orders of at least 1,000 tubes, a 12% discount on orders of at least 1,800 tubes and a 15% discount on orders at least 2,500 tubes. Bank sells an average of 40 tubes of Mabelline lipstick weekly. The normal price paid by BDO bank is P1 per tube. If it costs Bank P30 to place an order, and Bank's annual holding cost rate is 27%. Determine the optimal order policy for BDO bank.
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- A health insurance policy costs $275/month and pays $100,000 for a major illness. The probability that an individual will use their benefits in a given month is .25% for a major illness and 12% for a doctor's visit costing an average of $100. If the company has 40,000,000 policyholders, what is the expected net profit for the company each month?A home gods retailer offers a sales incentive program where customers receive credit towards future purchases based on the dollar amount of their purchases today. For every $10 spent, a customer receives a $1 credit to use in the next 30 days. Based upon historical trends, the firm estimates that 35% of the credits will be redeemed. In the next month, consistent with the firm’s estimate, 35% of the credits were redeemed. The entry recorded to account for the redemption of these credits (excluding the effect of the costs of sales entry): A.) Increases Liabilities, Increases Stockholders’ Equity B.) Increases Liabilities, Reduces Stockholders’ Equity C.) Reduces Liabilities, Reduces Stockholders’ Equity D.) Reduces Liabilities, Increases Stockholders’ Equity C.) No entry neededA charge account had a balance of $945 on May 5. A purchase of $233 was made on May 17, and a payment of $150 was made on May 20. The interest on the average daily balance is 1.6% per month. Find the finance charge on the June 5 bill. (Round your answer to the nearest cent.)