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QRB 501 Week 2 Problem Set Study Guide

QRB 501 Week 2 Problem Set Study Guide


QRB 501 Week 2 Problem Set Study Guide

1. Find the net price of a computer that lists for $340 if a discount rate of 30% is offered.

2. Calculate the net price for 50 boxes of computer paper if the unit price is $13.39 and single trade discount rate of 30% is allowed.

3. One manufacturer needs to calculate the net price of an order with a list price of $800 and a trade discount series of 10/8/6. Use the net decimal equivalent to find the net price.

4. One distributor lists ink-jet printers with 360 dpi and six scalable fonts that can print envelopes, labels, and transparencies for $189.16 with a trade discount series of 10/10/15. Another distributor lists the same brand and model printer at $212 with a trade discount series of 10/15/15. Which is the better deal if all other aspects of the deal, such as shipping, time of availability, and warranty are the same or equivalent?

 

5. One distributor lists a printer at $450 with a trade discount series of 16/10/6. Another distributor lists the same printer at $ 430 with a trade discount series of 11/11/6. Which is the better deal?

6. A man gets an invoice for $420 with terms 2/10, 1/15, n/30. How much would he pay 8 days after the invoice date?

7. A director of accounts received a bill for $645, dated April 7, with sales terms 3/10, 2/15, n/30. What amount is due if the bill is paid on or between April 18 and April 22?

8. A man is accounts payable offer for his company and must calculate cash discounts before paying invoices. He is paying bills on June 15 and has an invoice dated June 9 with terms 3/10, If the net price of the invoice is $1,296.72, what is the net amount the man will need to pay?

9. An invoice for $910 is dated October 15 and has sales terms of 4/9 ROG. The merchandise arrives October 19. How much is due if the bill is paid on November 2?

10. A man has an invoice for a complete computer system for $3,941.12. The invoice shows terms of 5/10, 4/15, n/30. He can afford to pay $2,000 within 10 days of the date on the invoice and remember within the 30-day period. How much should be credited to the account for the $2,000 payment, and how much is still due?

11. Cost = $55; Markup = $50. Find the selling price.

12. Cost = $80; Selling price = $208. a. Find the markup. b. Find the rate of markup based on cost.

13. Belts cost $4 and sell with a markup of $2.44. Find the selling price of belts.

14. A lamp cost $32 is marked up based on cost. If the lamp sold for $72, what was the percent of markup?

15. Battery-powered massager cost $7.50 if they are purchased in lots of 36 or more. The Gift Hose shoppe purchased 48 and sells them at a 45% markup based on cost. Find the selling price of each massager.

16. Cost = $54; selling price =$ 60. Find the rate of markup based on the selling price.

17. An item is marked up $27. The markup rate based on selling price is $67% a. Find the selling price. b. Find the cost.

18. An item sells for $64 and is reduced to sell for $56. Find the markdown amount and the rate of markdown.

19. Selling price = $800; reduced (New) price = $600. Find the markdown amount and the rate of markdown.

20. An item sells for $5,380 and cost $3,580. What is the rate of markup based on selling price? Round to the nearest tenth of percent.