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Home Q & A Board Science-Related Homework Help Mathematics
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Hillier Hillier
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Posts: 550
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6 years ago
For Your Eyes Only Company bought plasma screen TV sets for $11 585 less 4.5%, 3.2%. Overhead is 19% of regular selling price and required profit is 31% of regular selling price. The gas plasma TV sets were marked at a new regular selling price so that the store was able to advertise a discount of 10% while still maintaining its margin. To clear the inventory, the remaining TV sets were marked down 15%.
What operating profit or loss is realized at the clearance price?
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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#1
6 years ago
a) C = 11 585(.955)(.968) = $10 709.64
   10709.64 + .19S + .31S = S
   10709.64 = 0.5S
   $21419.28 = S
   MP - 10% of MP = S
   MP -0 .1MP = 21 419.28
   0.9MP = 21 419.28
   MP = $23 799.20
   Sale price = 23799.20(0.85) = $20 229.32
   Total cost = 10709.64 + .19(21419.28)
   = 10709.64 + 4069.66
   = 14 779.30
Profit = 20 229.32 - 14 779.30 = $5450.02
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