Sean's Hardware Store purchased ten lawnmowers to sell in-store during the upcoming summer season. The net...

 

Transcribed Image Text:

Sean's Hardware Store purchased ten lawnmowers to sell in-store during the upcoming summer season. The net total for the invoice was $2,108.00. The invoice was dated September 20 2022, with payment terms 5/20, n/45. (4 marks) a) If the bill was paid on October 9, 2022, how much would be paid (ignore taxes and shipping)? b) If the bill was paid on October 12, 2022, how much would be paid (ignore taxes and shipping)? Question 7 A smartphone cost a retailer $860.00 less a series discount of 31.5%, 7%. The regular selling price is $829.00. The dealer's overhead is 18% of the regular selling price. The smartphone did not sell for the regular selling price, so the retailer applied a mark down and sold the phone for $678.75. (8 marks) a) Determine the amount of markup (in dollars) the dealer applies to the smartphone to sell at the regular price of $829.00 b) What is the markup rate based on regular selling price? c) What was the rate of markdown? d) What was the operating profit or loss when the retailer sold the phone for $678.75 (the mark down price)? Sean's Hardware Store purchased ten lawnmowers to sell in-store during the upcoming summer season. The net total for the invoice was $2,108.00. The invoice was dated September 20 2022, with payment terms 5/20, n/45. (4 marks) a) If the bill was paid on October 9, 2022, how much would be paid (ignore taxes and shipping)? b) If the bill was paid on October 12, 2022, how much would be paid (ignore taxes and shipping)? Question 7 A smartphone cost a retailer $860.00 less a series discount of 31.5%, 7%. The regular selling price is $829.00. The dealer's overhead is 18% of the regular selling price. The smartphone did not sell for the regular selling price, so the retailer applied a mark down and sold the phone for $678.75. (8 marks) a) Determine the amount of markup (in dollars) the dealer applies to the smartphone to sell at the regular price of $829.00 b) What is the markup rate based on regular selling price? c) What was the rate of markdown? d) What was the operating profit or loss when the retailer sold the phone for $678.75 (the mark down price)?