Q1. Murray furniture store sells couches as a retailer. The wholesale cost to them of their most popular model of couch varies depending on how many they purchase for sale. For the first 200 couches the cost is $299 each; for the next 200 couches it drops to $250 each; and for every couch after that it costs $225. Create an excel function using the IF function to show the gross profit under the following scenarios: a. b. It sells at a price of $650 and 350 units are purchased for sale and sold It sells at a price of $625 and 300 units are purchased for sale and sold It sells at a price are $700 and 1,000 units are purchased for sale and sold C.

Q1. Murray furniture store sells couches as a retailer. The wholesale cost to them of their most popular model of couch varies depending on how many they purchase for sale. For the first 200 couches the cost is $299 each; for the next 200 couches it drops to $250 each; and for every couch after that it costs $225. Create an excel function using the IF function to show the gross profit under the following scenarios: a. b. It sells at a price of $650 and 350 units are purchased for sale and sold It sells at a price of $625 and 300 units are purchased for sale and sold It sells at a price are $700 and 1,000 units are purchased for sale and sold C.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 1PA: When prices are rising (inflation), which costing method would produce the highest value for gross...

See similar textbooks

Similar questions

When prices are rising (inflation), which costing method would produce the highest value for gross margin? Choose between first-in, first-out (FIFO); last-in, first-out (LIFO); and weighted average (AVG). Evansville Company had the following transactions for the month. Calculate the gross margin for each of the following cost allocation methods, assuming A62 sold just one unit of these goods for $10,000. Provide your calculations. A. first-in, first-out (FIFO) B. last-in, first-out (LIFO) C. weighted average (AVG)
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?
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 .)
Study the information given below and answer each of the following questions independently:Calculate the total Marginal Income and Net Profit/Loss if all the tables are sold. Use the marginal income ratio to calculate the break-even value.Calculate the new total Marginal Income and Net Profit/Loss, if an increase in advertising expenseby R100 000 is expected to increase sales by 400 units.How many units must be sold if the company wishes to earn a net profit of R298 920.Based on the expected sales volume of 2 400 units, determine the sales price per unit (expressedin rands and cents) that will enable the company to break even.
As shown below, a shop purchases and sells a certain type of product. Purchasing price : $10 per unit Selling price : $15 per unit Fixed cost : $1,000 How many units are sold at a “break even” point, where there is neither a profit nor a loss?
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?
Suppose you are the buyer for the housewares department of a department store. A number of vendors in your area carry similar lines of merchandise. On sets of microwavable serving bowls, Brand A offers a list price of $400 per dozen less a 35% trade discount. Brand B offers a similar set for a list price of $425 less a 42% trade discount. (a) Which vendor is offering the lower net price? Brand A Brand B (b) If you order 500 dozen sets of the bowls, how much money (in $) will be saved by using the lower-priced vendor?
What is the pricing equation and how is it used? If the product list price is $1000 and the retailer typically discounts the product at the end of the season by 20% on list price as an Incentive to sell the remaining 20% of the inventory to make room for next season’s products, what amount of upsell effort (Extra Fees for services) would be required all season to achieve an average Final Price paid by customers of 6% over list price over the entire season? Show your equations and calculations. short answer
What is the pricing equation and how is it used? If the product list price is $1000 and the retailer typically discounts the product at the end of the season by 20% on list price as an Incentive to sell the remaining 20% of the inventory to make room for next season’s products, what amount of upsell effort (Extra Fees for services) would be required all season to achieve an average Final Price paid by customers of 6% over list price over the entire season? Show your equations and calculations.
A company operates in a competitive marketplace. They look to the market to determine their selling price. It looks like the market will bear a price of $438. The company has a goal of earning 10% return on sales on each unit. What would their target cost be? Round your answer to the nearest whole dollar.
Suppose you are the purchasing manager for a company that manufactures scanners and other computer peripherals. Your vendor for scanner motors is now offering "quantity discounts" in the form of instant rebates and lower shipping charges as follows. Quantity Net Price Rebate Shipping 1–500 motors $16 none $1.50 501–1,000 motors 16 $1.30 1.10 1,001–2,000 motors 16 1.90 0.80 (a) Calculate the cost of the motors, including shipping charges, for each category (in $). 1–500 motors$ 501–1,000 motors$ 1,001–2,000 motors$ (b) If you usually purchase 400 motors per month, what percent would be saved per motor by ordering 800 every two months? Round to the nearest tenth of a percent. % (c) What percent would be saved per motor by ordering 1,200 every three months? Round to the nearest tenth of a percent. % (d) How much money (in $) can be saved in a year by purchasing the motors every three months instead of every month? $ (e) What other factors besides price…
A clothing company has determined that if the price of a T-shirt is K40, then 150 will be demanded by T-shirt wearers. When the price is K45, then 100 T-shirts are demanded by T- shirts wearers.(a) Find the price-demand equation, assuming that it is linear.(b) Find the revenue function.(c) Find the number of items sold that will give the maximum revenue. What is the maximum revenue?(d) What is the price of each item when maximum revenue is achieved?