Answered: The list price for a vacuum cleaner is…

The list price for a vacuum cleaner is $299.99. Determine the net cost after a 15/10/10 series discount a. $299.64 b.$206.54 c.$100.20 d.$417.44

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Given the following data on a hardware item stocked by Andreas Wieland's paint store in Copenhagen,…

A: Economic order quantity is a technique of measuring the most economical and feasible order size. The…

Q: A gift shop owner purchases items to sell in her store. She purchases a chair for $125 and sells it…

A: Markup can be defined as the difference between the sales price & cost as a percentage of cost.…

Q: The wholesale cost of a birdcage is $55. The original markup was 46% based on selling price. Find…

A: Selling Price = Cost + 46% of Selling Price

Q: The buyer purchases coats at a cost of $137.50 per dozen. The following purchases were made:…

A: Here, First Question Details:

Q: Golden furniture purchased 500 office chairs @ RO 60 each from Silver Furniture. The supplier offers…

A: Trade discount means discount offered on the list price of the goods. This discount will be reduced…

Q: Which item has a smaller net cost: Item A: 20/20 series discount for a list price of $600 Item B:…

A: At the time of purchase and sale of products, sellers offer various allowances and deductions to the…

Q: Shipping and insurance delivery chart Find the total cost of five pop-up hampers at $10.00 each and…

A: Given Five Pop Hamper @ $ 10.99 and two Non Stick pan @ $12.9

Q: A television set listed at RM 5000 is given a trade discount of 25%. Calculate the…

A: Trade discount is generally given by a seller to the buyer before the contract to sell goods or…

Q: 1. A buyer purchased 1500 towels at $10 each and 1500 matching face clothes at $5 each. The buyer…

A: Mark up on purchase = Markup value / Purchase price

Q: A student prepared the following spreadsheet model to calculate the final price of clothing items…

A: In this question, the formulas are given in an excel spreadsheet, and on the basis of these formulas…

Q: A flower shop buys roses with a list price of $1,500. If the wholesaler offers trade discounts of 30…

A: Trade discount series are the series of discounts offered to a customer, in which customer can avail…

Q: A carpet store sells designer rugs at retail for $845.58. If a 50% markup based on cost is added,…

A: Retail price = 845.58 Markup on cost = 50% Cost = ?

Q: Use Exhibit 18-1 to determine the sales tax (in $) and calculate the total purchase price (in $) for…

A: Answer Price after 8% vat=5400 If the initial price=x vat=8% Final…

Q: 1. A computer table sells for $198.50 and costs $158.70. Find the markup. Find the rate of markup…

A: Markup and Markup rate: Difference between the selling price of the product and the cost of the…

Q: Item ID Item Name Item Price (RM) Quantity Sub total N101 Nail dlipper 2.50 5 D102 Dress 11.90 10…

A: As per protocol we are supposed to answer to one only. To get the solution of other questions kindly…

Q: they sell by marking up its cost at wholesale a full 100%. If they had a sale with all items marked…

A: Step 1 In cost, there are two types of profit percentage method generally, which is based on On…

Q: this is about merchandising actvities, customer return goods to buyer using net cost method.…

A: In net cost mehtod the purchase of goods entry [ by the buyer] and…

Q: Suppose a certain car audio manufacturer receives an order of a certain brand of satellite radios…

A: Net price is the final price that a customer needs to pay. It is the price after excluding the…

Q: A discount clothing store buys shirts and slacks with a list price of $14,750. If the wholesaler…

A: Single equivalent discount = 1 - [(1 - first discount) x (1 - second discount) x (1 - third…

Q: Your firm sells home appliances at retail. When ordering washingmachines from the manufacturer, you…

A: Trade discount is the discount provided by the traded on purchasing the large quantity of goods. In…

Q: A coat cost a retailer $402.00 less 13%, 17%, 2.25%. It carries a regular selling price on its price…

A: Given information : Cost to retailer $402 Discount rate 1 13% Discount rate 2 17% Discount…

Q: A dress has a selling price of 1,800. It's mark up based on selling price is 17%. What is the…

A: Selling price = 1800 Mark up based on selling price = 17%

Q: Crazy Cliff’s Computers (CCC) purchases computer parts from its suppliers 2/5, net 30. What is the…

A: Effective annual cost(EAC) for not taking the trade credit is the amount forgone by the firm by…

Q: Bosch double Door Refrigerator is priced at OMR 240. It is given a discount series of 30%, 20% and…

A: The answer is option (a.) [ 114.24 OMR ] Refer step 2 for explanation

Q: A discount clothing store buys shirts and slacks with a list price of $12,750. If the wholesaler…

A: Discount is the benefit for purchaser which will be deducted from the purchase price and the balance…

Q: Information for number 6 and 7 An offer from the supplier to pay the materials ahead of time is…

A: Supplier is a person or a firm that provide raw materials or products to an organisation. Supplier…

Q: A washing machine is listed at RM2,069 with a discount of 25%. What additional discount must be…

A: In the question, we are required to find the additional discount over the given discount so lets…

Q: A craft shop buys stuffed animals with a list price of $6,000. If the wholesaler offers trade…

A: wholesale offer discounts to increase the sales.

Q: A photographer buys some merchandise with a list price of $5,000. If the supplier offers trade…

A: Formula: Trade discount amount = Invoice amount x Discount rate Multiplying invoice amount with…

Q: 1.The wholesale cost of a desk is $490. The original markup was 67% based on selling price. Find the…

A: Cost=$490 Original Mark up was 67% of selling price. Therefore, Original mark up…

Q: 2) Kitchen cabinet knobs in the Designer Hardware catalog list for $3.00. The net price to the…

A: In the given question we are required to calculate the trade discount rate from the following…

Q: Calculate the missing information. Round dollars to the nearest cent and percents to the nearest…

A: Markup is an amount that is added in cost and derived from the sales price. Item Cost Amount of…

Q: 3. Auto Repair, Inc. buys parts from Auto Parts, Inc. Listed in the table below are the list prices…

Q: The net cost for a big screen TV is $599.49 from a 25/15 series discount. Determine the list price.…

A: Under series discount we have offer multiple discount on list price. For example in the given…

Q: Homeward Hardware buys cat litter for $6 less 20% per bag. The store's overhead is 45% of cost and…

A: Price = $6 Discount on price = 20% Overhead cost = 45% Required profit = 20%

Q: Calculate the net payment due if the shipment is received on January 10th and the payment is made on…

A: The company making sales on account sometimes provide the discount to fasten the collection process.…

Q: An item costs a store $5 from the manufacturer. The store plans to mark up the item at 70% of the…

A: Selling price = Cost + mark up

Q: Stand-alone revenue allocation. Magic Systems, Inc., sells computer hardware to end consumers. The…

A: 1. Allocate the revenue from the computer bundle purchase to each of the hardware products using the…

Q: A store pays $60 for a set of cookware. Overhead expense on each cookware is 6% of the selling price…

A: Given information: 1)Cost for set of cookware = $60 2) Overhead expenses=6% of…

Q: QUESTION 1 The intimate apparel buyer wants to determine an initial markup percentage for the robe…

Q: The Alpaca Wool Shoppe bought 150 scarves for Total cost= $4150.00; 50 scarves were sold at a markup…

A: Mark up on the cost is done to set a selling price with the required amount of margin. The higher…

Q: If a retailer paid RO 280 after a discount of RO 70 on the list price, the list price and rate of…

A: List price = Amount paid + discount amount = RO 280 + RO 70 = RO 350

Q: A student prepared the following spreadsheet model to calculate the final price of clothing items…

A: Discount is the amount of reduction or allowance that is being allowed on original cost of the…

Q: dress has a mark up of 150.Its mark up rate based on cost is 15% . Question: What is the selling…

A: Selling price is sum of cost and mark up. i.e Selling price = Cost + Markup

Q: flower shop buys roses with list price of $1500. Wholesaler offers discounts of 30/20/10 3/4, find…

A: Trade discount is the reduction in price given to a reseller if he pays the amount in some specific…

Q: A photographer buys some merchandise with a list price of $5,000. If the supplier offers trade…

A: First we need to find single equivalent discount

Q: USE GOOGLE SHEET Use the template below and create your own invoice for purchased products of a…

A: An invoice seems to be a document that is used as proof to indicate the transaction that occurred…

Q: dress has a cost of 580. It was tagged to sell for 620 . 1.Find the mark up, Mark up rate based on…

A: In this we have to calculate mark up and percentage.

Question

The list price for a vacuum cleaner is $299.99. Determine the net cost after a 15/10/10 series discount

a. $299.64

b.$206.54

c.$100.20

d.$417.44

Expert Solution

Step 1

Lets understand the basic.

We are required to calculate single discount rate to calculate the requirement.

Single discount rate = 100 - ((100 - D1) (100 - D2)(100 - D3))

Based in the discount rate we can calculate the net cost as below:-

= List price - Single discount rate

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Find the net price for an order of tires with a list price of $13,000, less trade discounts of 30/25/10. Use the net price, complement method. $2,964.00 $6,142.50 $6,857.50 O $10,036.00
Use Exhibit 18-1 to determine Sales Tax in (K and Calculate the Total purchase price (in) for the Item. (Round Your Answer to the nearest Cent) 2 Item Hair Dryer Selling Price Sales Tax $$17.28 Total Purchase Rrice
Retailer X buys a product at $1.75 per unit and plans to sell the item for $3.29 per unit. Calculate the Margin on an (A) COST Basis or (B) RETAIL basis
1.Calculate the missing information. Round dollars to the nearest cent and percents to the nearest tenth of a percent. Item Cost Amount ofMarkup Selling price Percent MarkupBased on Cost Hat $24.75 $30.00 $ % 2.A customer just paid $63.21 for a raincoat. If the percent markup based on cost is 47%, what was the cost (in $)?$ 3.Calculate the missing information. Round dollars to the nearest cent and percents to the nearest tenth of a percent. Item PercentMarkupBased onCost PercentMarkupBased onSelling Price Flashlight % 55% 4.Calculate the missing information. Round dollars to the nearest cent and percents to the nearest tenth of a percent. Item PercentMarkupBased onCost PercentMarkupBased onSelling Price Drill % 42%
1. Compute the missing term. Dollar Markup Cost $427.38 a. $216.41 dollar markup b. $361.41 dollar markup c. $261.41 dollar markup d. $1,116.17 dollar markup Selling Price $688.79
If a company has four lots of products for sale, purchase 1 (earliest) for $17, purchase 2 (middle) for$15, purchase 3 (middle) for $12, and purchase 4 (latest) for $14, which cost would be assumed to be sold firstusing LIFO costing?A. $17B. $15C. $12D. $14
Find the net price for an order of tires with a list price of $19,000 less trade discount of 30/25/10 use the net price complement method
Pretty charges P3.75 per kilogram of laundry service done. The cost of laundry supplies consumption is P0.25 per kilogram of laundry done. The total service revenue for the period is P2,812.50. The cost of supplies consumed is a. P187.50 b. P803.57 c. P703.13 d. P2,636.72
Calculate the total cost, total selling price and selling price per brownie. (Round your answers to two decimal places. Omit the "$" sign in your response.) Percent Selling price Percent Total that will per spoil brownie 10% $ Total quantity Unit Total markup selling Item bought cost cost on cost price Brownies 20 $0.79 $ 60% $
Use Exhibit 18-1 to determine the sales tax (in $) and calculate the total purchase price (in $) for the item. (Round your answers to the nearest cent.) Item SellingPrice SalesTax TotalPurchase Price Hair dryer $19.22
Use Exhibit 18-1 to determine the sales tax (in $) and calculate the total purchase price (in $) for the item. (Round your answers to the nearest cent.) Item Hair dryer Selling Price $17.27 $ Sales Tax Total Purchase Price $
6.A carpet store sells designer rugs at retail for $845.58. If a 50% markup based on cost is added, what is the cost (in $) of the designer rugs? $