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Homework answers / question archive / b
b. SportZ has received an invoice from one of its suppliers, dated April 2, for $30 120, terms 2/10. All or part of the amount owing will be paid on April 10. How much would have to be paid to fully pay the invoice? (1) How much would have to be paid to reduce the debt by $20 000? c. A specific type of leather is needed to make gloves for a hockey player. The leather for each glove costs $12.00. To cut and style the leather, expenses of 45% of cost are incurred. The company targets a profit of 60% of cost. (1) What is the targeted selling price for the leather glove? (ii) What is the resulting markup based on cost? (iii) If the profit was reduced to 50% of cost, how much would be the sale price? 3. At their outlet store, SportZ has a supply of soccer balls. To make room for other equipment, the balls are being marked down to sell quickly. The retail price is $22.99, and the store has advertised a sale of 30% off. (1) What is the sale price for the balls? (ii) Due to a special promotion given to a school nearby, an additional $5.00 dis- count is given for each ball purchased. What is the resulting markdown rate?
