1. The men's department had sales of $60,000 for December.  During the month, the buyer reduced prices of 38 suits from $695 to $445 and that of 20 suits from $550 to $287.  What was the markdown percent for the month?  Present your answer with a %-sign, rounded to two decimal places (i.e. 19.47%).

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
icon
Related questions
Question

1. The men's department had sales of $60,000 for December.  During the month, the buyer reduced prices of 38 suits from $695 to $445 and that of 20 suits from $550 to $287.  What was the markdown percent for the month?  Present your answer with a %-sign, rounded to two decimal places (i.e. 19.47%).

2. A giftware buyer received 36 crystal clocks that retailed for $79 each.  Five clocks sold at that price before a special sales event.  The remaining 31 clocks were marked down to $58.  Nineteen of the clocks were sold during the sale, and the remaining clocks were marked to the original $79 price.  The remaining clocks were eventually sold at full price.  Calculate the net markdown percent.  Present your answer with a percent sign, rounded to two decimal places (i.e. 19.64%).

3. Alma, a sales associate, receives a 20% employee discount.  Because she was the top sales associate of the month, Alma was given an additional 10% discount for the month of March.  During March, Alma purchased a pair of running shoes for $89.50, a running suit for $129.99, two pairs of socks at $4.00 each and a t-shirt for $21.50.  What was the dollar amount of Alma's purchases, including a 7.5% sales tax?  Present your answer with a dollar sign, comma separator, rounded to the penny (i.e. $1,567.89)

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 6 images

Blurred answer
Knowledge Booster
Sales and Lease contracts
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Practical Management Science
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Business in Action
Business in Action
Operations Management
ISBN:
9780135198100
Author:
BOVEE
Publisher:
PEARSON CO
Purchasing and Supply Chain Management
Purchasing and Supply Chain Management
Operations Management
ISBN:
9781285869681
Author:
Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:
Cengage Learning
Production and Operations Analysis, Seventh Editi…
Production and Operations Analysis, Seventh Editi…
Operations Management
ISBN:
9781478623069
Author:
Steven Nahmias, Tava Lennon Olsen
Publisher:
Waveland Press, Inc.