ABC company offers an item for RM 300 less 20% whilst XYZ company offers the same item for RM 320 less 40%. Find i. the net prices of the item offered by the two shops. ii. the further discount percentage that must be offered by the shop that sells at a higher net price in order to meet the competitor’s price.
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ABC company offers an item for RM 300 less 20% whilst XYZ company offers the same
item for RM 320 less 40%. Find
i. the net prices of the item offered by the two shops.
ii. the further discount percentage that must be offered by the shop that sells at a
higher net price in order to meet the competitor’s price.
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Solved in 2 steps
- # You can buy a product from one of three companies. Company A for $3,200 with a trade discount of 30%, Company B for $2,900 with a trade discount of 20% and 10%, or Company C for $3,450 with a trade discount of 20%, 15%, 5%. Which company has the lowest net price?One Corporation has two potentialsuppliers. Both are supplying the items atsimilar list prices and trade,discounts.However, Supplier A.offered a credit term of2/10, n/30 and the.other offered a term of3/10, n/40. Which of the following statementsis true? a. Alpha should choose Supplier A and pay on the 10th day.b. Alpha should choose Supplier B and pay on the 10th day.c. Alpha can choose either supplier and always pay on the 10th day.d. If Alpha chose Supplier B, the former should pay on the 30th day so that it can maximize the trade discountA retailer is considering the purchase of 500 units of a specific item from either of two suppliers. Their offers are as follows:Supplier One: $40 a unit, total of $20,000, 1/10, n/30, no charge for freight.Supplier Two: $39 a unit, total of $19,500, 2/10, n/30, plus freight of $500.Which of the two offers, Supplier One or Supplier Two, yields the lower price?
- A wholesaler has obtained a consignment of dates worth RM 6,000 from a supplier. The manager is considering on the selling price to his distributors using two options. Option 1 is a 20% markup based on cost price and Option 2 is based on 20% markup based on retail price. a) Find the retail price based on Option 1 b)Find the retail price based on Option 2. A retailer is considering the purchase of 100 units of a specific item from either of two suppliers. Their offers are as follows: A: $780 a unit, total of $78,000, 1/10, n/30, plus freight of $1,500. B: $800 a unit, total of $80,000, 2/10, n/30, no charge for freight. Which of the two offers, A or B, yields the lower price? Answer: ______________________________________________________________________ Explain your answer: ______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________The CFO of Jason Bradley's engineering firm is comparing two manufacturers list prices . Premier Products offers a single trade discount of 22%. Integrity Manufacturing offers a series discount of 20/2 / 1 What are the savings on this $15,000 order if the least expensive manufacturer is chosen? (Find the difference in cost between the two manufacturers .)
- DO THE (D) and (E) part Mr. Assad a Wholesaler buys a product from the Al Mazoon manufacturing company at RO 700 and pays VAT at the prescribed rate of 10%. a retailer buys a product from the wholesaler at RO 800 and the wholesaler charges VAT at the prescribed rate of 10%. The retailer fixes the price at RO 1000 and charges VAT at the same rate. Mr. Yousuf buys the product from the ABC LLC. What is the price including VAT that Mr. Yousuf has to pay to buy the Product? What is input tax and output tax? Discuss Amount of output tax for the retailer and wholesaler. How much VAT does the retailer pay to the government? VAT is different from sales tax system. Explain and give reason to your answerMaximum Inc. (retailer) has a loyalty program that rewards its customers one point per $1 spent. Points are redeemable for $0.20 off future purchases. A customer purchases products (cost of $280) for cash at the usual selling price of $400 and earns 400 points redeemable for $80 off future purchases of goods or services. The retailer expects redemption of 360 points or 90% of points earned. a.) How should the transaction price be allocated among the performance obligation(s)?Note: Round each allocated transaction price in the table below to the nearest dollar. b. Prepare Maximum’s journal entry to record the $400 sale to the customer where the customer earned 400 loyalty points.Sharma Kennels buys some items with a list price of $4,100. The supplier extends a 40% trade discount rate. What is the net price (in $)?
- RAF has four possible suppliers, all of which offer different credit terms. Except for the differences in credit terms, their products and services are virtually identical. The credit terms offered by these suppliers are shown in the following table. (Note: Assume a 365-day year.) Supplier Credit terms J 1/10 net 30 EOM K 2/20 net 80 EOM L 1/20 net 60 EOM M 3/10 net 55 EOM Calculate the approximate cost of giving up the cash discount from each supplier. If the firm needs short-term funds, which are currently available from its commercial bank at 16%, and if each of the suppliers is viewed separately, which, if any, of the suppliers’ cash discounts should the firm give up? Explain why.Prairie Manufacturing has four possible suppliers, all of which offer different credit terms. Except for the differences in credit terms, their products and services are virtually identical. The credit terms offered by these suppliers are shown in the following table: LOADING... (Note: Assume a 365-day year.) Supplier Credit terms J 2/15 net 40 EOM K 2/20 net 80 EOM L 1/10 net 60 EOM M 3/10 net 100 EOM a. Calculate the approximate cost of giving up the cash discount from each supplier. b. If the firm needs short-term funds, which are currently available from its commercial bank at 10%, and if each of the suppliers is viewed separately, which, if any, of the suppliers' cash discounts should the firm give up? c. Now assume that the firm could stretch by 30 days its accounts payable (net period only) from supplier M. What impact, if any, would that have on your answer in part b relative to this…A discount store purchased mobile phones at a cost of P28,800 per dozen. If they need 20% of cost to cover operating expenses and 15% of cost for the net profit, what is (a) the selling price per phone and (b) the percent of markup on selling price?