Nissan Appliances bought two dozen camcorders at a total cost of $3,864. The markup on the camcorders is 30% of the selling price. What was the original selling price of each camcorder? Selling price
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- The cost price of 35 pairs of sport shoes was $350 per pair. AG Sport Center plan to sell all the shoes for a gross profit of 25% based on cost and the operating expenses were 15% based on cost. Compute the total selling price if AG Sport Center managed to sell all the shoesRT retail store purchased 10,000 units of chairs from YS furnishing for $300,000. The listed price for 10,000 units was $330,000. What is the nearest trade discount percentage that RT retail received?Appliance Store realizes a mark-up of PhP3,450 in selling TV sets. If its items are sold at a mark-up of 40% of the selling price, A. What is the regular selling price of the TV set? B. What was the cost of the TV set? C. What is the rate of mark-up based on cost for the TV set? D. If overhead expenses are at 27% of the cost, what is the break-even price of the TV set? E. If the TV set is sold at PhP7,500, how much profit or loss is incurred by Appliance Store?
- Zonker Inc. purchases 500 units of an item at an invoicecost of $30,000. What is the cost per unit? If the goods areshipped f.o.b. shipping point and the freight bill was$1,500, what is the cost per unit if Zonker Inc. pays thefreight charges? If these items were bought on 2/10, n/30terms and the invoice and the freight bill were paid withinthe 10-day period, what would be the cost per unit?Milden Company is a merchandiser that plans to sell 35,000 units during the next quarter at a selling price of $60 per unit. The company also gathered the following cost estimates for the next quarter: Cost Cost Formula Cost of good sold $30 per unit sold Advertising expense $180,000 per quarter Sales commissions 5% of sales Shipping expense $40,000 per quarter + $5.00 per unit sold Administrative salaries $90,000 per quarter Insurance expense $10,000 per quarter Depreciation expense $60,000 per quarter Required: 1. Prepare a contribution format income statement for the next quarter. 2. Prepare a traditional format income statement for the next quarter.merchandiser plans to sell 13,400 units next month at a selling price of $110 per unit. It also gathered the following cost estimates for next month: Cost Cost Formula Cost of goods sold $60 per unit sold Advertising expense $150,000 per month Depreciation expense $70,000 per month Shipping expense $100,000 per month + $10 per unit sold Administrative salaries $50,000 per month Sales commissions 5% of sales Insurance expense $15,000 per month What is the estimated total contribution margin for next month?
- The I-75 Carpet Discount Store has an annual demand of 10,000 yards of Super Shag carpet. The annual carrying cost for a yard of this carpet is $0.75, and the ordering cost is $150. The carpet manufacturer normally charges the store $8 per yard for the carpet; however, the manufacturer has offered a discount price of $6.50 per yard if the store will order 5,000 yards. How much should the store order, and what will be the total annual inventory cost for that order quantity?Charlotte sells widgets that cost $50 each to purchase and prepare for sale. Annual sales are 10,000 widgets, carrying costs are 15% of inventory costs, and Charlotte incurs a cost of $25 each time an order is placed. (a) What is the EOQ? (b) What will be the total inventory costs if the EOQ amount is ordered? (c) Suppose that Charlotte's supplier decides to offer a 3% cash discount if products are ordered in increments of 1250. How many widgest should Charlotte order each time an order is placed to minimize total inventory costs?Marwick’s Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,499 per unit and then sells them to retail customers for an average price of $2,600 each. The company’s selling and administrative costs for a typical month are presented below: Costs Cost Formula Selling: Advertising $ 961 per month Sales salaries and commissions $ 4,799 per month, plus 4% of sales Delivery of pianos to customers $ 60 per piano sold Utilities $ 647 per month Depreciation of sales facilities $ 4,956 per month Administrative: Executive salaries $ 13,422 per month Insurance $ 702 per month Clerical $ 2,456 per month, plus $37 per piano sold Depreciation of office equipment $ 879 per month During August, Marwick’s Pianos, Inc., sold and delivered 56 pianos. Required: 1. Prepare a traditional format income statement for August.
- Marwick’s Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of $1,519 per unit and then sells them to retail customers for an average price of $3,000 each. The company’s selling and administrative costs for a typical month are presented below: Costs Cost Formula Selling: Advertising $968 per month Sales salaries and commissions $4,783 per month, plus 5% of sales Delivery of pianos to customers $60 per piano sold Utilities $661 per month Depreciation of sales facilities $5,069 per month Administrative: Executive salaries $13,430 per month Insurance $696 per month Clerical $2,538 per month, plus $38 per piano sold Depreciation of office equipment $884 per month During August, Marwick’s Pianos, Incorporated, sold and delivered 59 pianos. Required: 1. Prepare a traditional format income statement for August.2. Prepare a contribution format income statement for August. Show costs and revenues on both a total and a…Green Tees, an on line retailer of t-shirts, orders 10,000 t-shirts per year from its manufacturer. The carrying cost is $0.10 per shirt per year. The order cost is $550 per order. What is the optimal order quantity for the t-shirt inventory (rounded to the nearest dollar)?Marwick’s Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of $1,509 per unit and then sells them to retail customers for an average price of $2,000 each. The company’s selling and administrative costs for a typical month are presented below: Costs Cost Formula Selling: Advertising $ 952 per month Sales salaries and commissions $ 4,776 per month, plus 5% of sales Delivery of pianos to customers $ 63 per piano sold Utilities $ 663 per month Depreciation of sales facilities $ 5,029 per month Administrative: Executive salaries $ 13,453 per month Insurance $ 686 per month Clerical $ 2,480 per month, plus $42 per piano sold Depreciation of office equipment $ 887 per month During August, Marwick’s Pianos, Incorporated, sold and delivered 57 pianos. Required: 1. Prepare a traditional format income statement for August.2. Prepare a contribution format income statement for August. Show costs and revenues on both a…