a.Calculate the discount allowed by both companies? (convert your equivalent rate to the nearest hundredth percent). (Do not round intermediate calculations. Round your answer to the nearest hundredth percent.) Discount Company A % Company B % b. Which of the following companies, A or B, gives a higher discount? Use the single equivalent discount rate to make your choice. Company A Company B Complete the following (If more than one discount, assume date of last discount): (Use table 7.1) (Assuming February will have 28 days.) Invoice Date goods are received Terms Last day of discount period Final day bill is due (end of credit period) November 10 2/10, 1/30, n/60 Complete the following: (Do not round intermediate calculations. Round your final answers to the nearest cent.) Amount of invoice Terms Invoice date payment made Date of partial payment Amount of payment to be credited Balance Actual partial Round your final answers to the nearest cent. In addition.com and found a 25% off coupon to your significant other’s favorite store. (Do not round intermediate calculations. Armed with that coupon. n/60 8/5 $545 8/8 $ $ Lucky you! You went to couponcabin. your credit card has a special offer that allows you to save 15% if you use your credit card for all purchases that day.) Savings $ Final price $ .outstanding $745 3/10. you went to the store only to find a storewide sale offering 20% off everything in the store. what will you pay before tax for the $300 gift you found? Use the single equivalent discount to calculate how much you save and then calculate your final price. Using your credit card. What does Intel pay Bally? Payable amount $ . Intel receives a 40% trade discount. Macy agreed to prepay the $20 freight. Bally dated the invoice July 28 with 5/10 EOM terms. of Chicago office equipment with a $7.400 list price. n/30 FOB New York.100 list price.Macy of New York sold LeeCo. LeeCo. pays the invoice within the discount period. pay Macy? Payable amount $ Bally Manufacturing sent Intel Corporation an invoice for machinery with a $13. What does LeeCo. Intel pays the invoice on August 10. Sale terms were 1/10. What is Jangles’ outstanding balance? (Round your answer to the nearest cent. Jangles sent an $8.) Credit $ b. Cash discount terms were 3/10. Jangles Corporation received a $21.) .440 partial payment. On March 26. What credit should Jangles receive? (Round your answer to the nearest cent. a. n/30.100 invoice dated March 19.On March 22. ) Cost Selling price $17.) Selling price $ . Find the dollar markup and percent markup on cost for the following.00 $25.Outstanding balance $ Assume that markup is based on cost. (Round your answer to the nearest cent.(Round your "Dollar markup" answer to the nearest cent and "Percent markup on cost" to the nearest hundredth percent.80 $ Dollar markup Percent markup on cost % What is the selling price of a dining room set at Macy’s? Assume actual cost is $800 and 49% markup on selling price. 700 30% 10% 10% Final selling price $ Markdown percent % 10% .Calculate the final selling price to the nearest cent and markdown percent to the nearest hundredth percent: Original selling price First markdown Second markdown Markup Final markdown $6. Calculate the breakeven point and contribution margin. an importer in Brownsville. He knows that most people will not pay more than $20 for a golf hat. Assume he wants a 80% markup. Cecil needs a 36% markup on cost. . boasts being the southernmost international seaport and the largest city in the lower Rio Grande Valley. Texas.) Cecil pay $ Brownsville. What should Cecil pay for his golf hats? (Round your answer to the nearest cent. He paid $190 for the shipment. Ben Supple. has just received a shipment of Peruvian opals that he is pricing for sale. Breakeven point per unit Fixed cost Contribution margin units $ $9 $107.400 $17 Selling price per unit Variable cost Cecil Green sells golf hats. " . Misu Sheet wants to advertise the comforter as "percent markup on cost.) Selling price when the markup is based on cost $ Misu Sheet. Calculate the selling price when the markup is based on selling price. (Round your answer to the nearest cent. knows his customers will pay no more than $145 for a comforter. owner of the Bedspread Shop. Calculate the selling price when the markup is based on cost. Selling price when the markup is based on selling price $ b.a. a. What is the equivalent rate of percent markup on cost compared to the 20% markup on selling price?(Round your answer to the nearest hundredth percent.) Rate of percent b. % Is this a wise marketing decision? Yes No . 570. Each sells for $23. Round your "overtime rate" and "gross earnings" to the nearest cent. Its variable cost per unit is $11. What is the breakeven point for Jane Corporation? Breakeven point units Complete the following table (assume the overtime for each employee is a time-and-a-half rate after 40 hours): (Do not round intermediate calculations.Jane Corporation produces model toy cars.) Employee regular hours Total overtime M T W Th F Sa Total .43.90. Assuming it has a fixed cost of $386. 600: $0.05 each Over 1.50 $ $ Calculate the gross earning for an apple picker based on the following differential pay scale: (Round your answers to the nearest cent.000: $0.) 1–1.001–1.975 $ 1.03 each Apple picker Number of apples picked Gross earning Harrison 1.hours Regular rate Overtime rate Gross earnings Maloney 10 8 9 8 7 3 $7.07 each .600: $0. 825 $25 $ $5.000 (no commission on returned goods): Complete the following table: Employee sales Gross Return Net sales Given quota Commission sales Commission rate Total commission wage Regular Total wage Sanders $7.000 $ 2% $ $230 $ .A Publishing Company pays its salespeople a weekly salary plus a 2% commission on all net sales over $5. M 2 $1.000 $ $ $ $ .) FICA Employee Marital status Allowances claimed Gross pay FIT Net pay S.2).Assume a tax rate of 6.1 and Table 9.) (Use Table 9. (Do not round intermediate calculations.S.2% on $110. Complete the following payroll register. No one will reach the maximum for FICA. (Use the percentage method to calculate FIT for this weekly period. Mike Rice Med.100 for Social Security and 1.45% for Medicare. Round your final answers to the nearest cent. 800 Alice Smooth 3.3%) and federal unemployment taxes that the employer must pay for each of the first two quarters.050 3. calculate the state (assume 5.750 Rich Haines 7.8% on the first $7. (Round your answers to the nearest cent.850 14.950 PAYROLL SUMMARY Quarter 1 Quarter 2 .000.Given the following. The federal unemployment tax is 0.) PAYROLL SUMMARY Quarter 1 Bill Adams $ Quarter 2 3.000 only. Both state and federal unemployment taxes apply to the first $7.650 $ 7. Total $ $ SUTA $ $ FUTA $ $ Rhonda Brennan found her first job after graduating from college through the classifieds of the Miami Herald.1 and Table 9.) Net pay $ . Her company will pay her biweekly for 80 hours (assume a tax rate of 6. She was delighted when the offer came through at $21. (Use Table 9.00 per hour.100 for Social Security and 1. Calculate her take-home pay for her first check.2% on $110.2) (Round your answer to the nearest cent. She completed her W-4 stating that she is married with a child and claims an allowance of 3.45% for Medicare). 1 and Table 9.2) (Round your answer to the nearest cent.) Amount $ . How much is taken out for federal income tax with one withholding exemption? (Assume the overtime for each employee is a time-and-ahalf rate after 40 hours.) (Use Table 9.Maggie Vitteta. works 34 hours per week at $11 an hour. single. Health Care deducts Social Security. (Round your answer to the nearest cent.Richard Gaziano is a manager for Health Care. Richard is married. and claims 2 exemptions.000 below the maximum level for Social Security earnings.1 and Table 9.2). is paid weekly. Before this payroll. Assume a rate of 6. Richard is $1. and FIT (by percentage method) from his earnings.) Net pay $ . Medicare.200? (Use Table 9.2% on $110. Inc.45% for Medicare.100 for Social Security and 1. What is Richard’s net pay for the week if he earns $1. 2% on $110.Westway Company pays Suzie Chan $3. a. Assume Social Security is 6.) Deductions Social security $ Medicare $ b.45% for Medicare.400 per week.100 and 1. By the end of week 51. .8% on the first $7.1% and the federal unemployment tax is 0.000. how much did Westway deduct for Suzie's Social Security and Medicare for the year? (Round your answers to the nearest cent. What state and federal unemployment taxes does Westway pay on Suzie's yearly salary? The state unemployment rate is 5. 8%.) State taxes owed $ Federal taxes owed $ Taxes owed for week 30 $ Calculate the simple interest and maturity value.Payment State unemployment taxes $ Federal unemployment taxes $ Morris Leste. (Leave no cells blank . $725. Round your answers to the nearest cent. (Do not round intermediate calculations.6% and a federal rate of 0. has three employees who earn $410.be certain to enter "0" wherever required. owner of Carlson Company. What are the total state and federal unemployment taxes that Morris owes for the first 11 weeks of the year and for week 30? Assume a state rate of 5. Round your answers to the nearest cent.) Principal Interest rate Time Simple interest Maturity value . and $880 per week. $ $ Solve for the missing item in the following.S. $3.mml 20 mo. (Use 360 days a year.) . Do not round intermediate calculations.700 formula38. 7%. 240 days Partial payments: On 100th day. Rule to solve for total interest cost.000.300 a. Principal Interest rate $720 years $144 5% Time Simple interest Given Principal: $8.$17. Use the U.400 On 180th day. Round your answer to the nearest cent. $2. Rule to solve for final payment. Rule to solve for balances. (Use 360 days a year. (Use 360 days a year. Use the U.) On 100th day On 180th day Balance after the payment $ $ c. Round your answer to the nearest cent.) Final payment $ .S. Use the U. Round your answer to the nearest cent. Do not round intermediate calculations.Total interest cost $ b. Do not round intermediate calculations.S. years. years.The time of a loan could be expressed in months. or days. True False Ordinary interest is never used by banks. True False The time of a loan could be expressed in months. True False . or days. In the U. Rule. 3 is: . True False Interest of $1.632 with principal of $16. 9 and Jan.S.000 for 306 days (ordinary interest) results in a rate of: 10% 12% 12 1/2% 13% None of these The number of days between Aug. the partial payment first covers the interest and the remainder reduces the principal. 000 on a 120-day 14% note.108. Jim paid $5. The loan will mature the following year on January 16.S.342 .33 None of these On May 17.67 $1.145 144 147 148 None of these Jim Murphy borrowed $30.000. Rule. what is the maturity value due on January 16? rev: 08_24_2013_QC_ 34268 $34. Using the U.108.000 toward the note on day 95.000 $28.000 at 6% to open her law practice office.33 $26. Jane took out a loan for $33. On day 105 he paid an additional $6.891. Jim's adjusted balance after the first payment is: $25. Using the ordinary interest method. 500 on a 11%. Max paid $4.50.050. After 45 days. What was Bill’s principal balance at the beginning of April? (Use 360 days a year. a.62 $34.) Principal balance $ Max Wholesaler borrowed $13. Thirty days later. .254 None of these Bill Moore is buying a used Winnebago. Max paid an additional $4.$34.725 on the note.323. Do not round intermediate calculations. Use ordinary interest. 120-day note.80% was $84. His April monthly interest at 7.320 $34. Determine the total interest use the U.S. Rule. .S.(Do not round intermediate calculations. Leslie must repay the loan at the end of 10 months in one payment with 1formula12.200 to pay for her child’s education at Riverside Community College. Rule.mml interest.) Total interest amount $ b. Round your answers to the nearest cent.) Ending balance due $ Leslie Hart borrowed $15. Determine the ending balance due use the U.Round your answers to the nearest cent. (Do not round intermediate calculations. Round your answer to the nearest cent.a.) . How much interest must Leslie pay? (Do not round intermediate calculation. Round your answer to the nearest cent.) Interest $ b. What is the maturity value? (Do not round intermediate calculation. Maturity value $ .