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krok68 [10]
3 years ago
11

Front range cabinet distributors in colorado springs, colorado, sells to its contractors with a 42% markup on cost. if the selli

ng price for cabinets is $9,655, what is the cost to contractors based on cost? (round your answer to the nearest cent.)
Business
2 answers:
Sergeeva-Olga [200]3 years ago
8 0

Answer:

$6,799.30

Explanation:

selling price = cost + markup

selling price = 9,655

markup = 42% of cost = 0.42 cost

9,655 = cost + 0.42cost

9,655 = 1.42cost

cost = 9,655 / 1.42

cost = 6,799.30

markup = 6,799.30 x 42% = 2855.70

we can check the answer by using the following formula:

markup percentage = markup / cost =  2,855.70 / 6,799.30 = 42%

Katena32 [7]3 years ago
4 0

This is a simple algebra problem.

To determine price, you need to Have the cost of the product plus the markup equals the sales price.

We know the sales price and the markup, so we need to solve for the cost.

9,655= 1.42(x)

X=9,655/1.42

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Answer:

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$38 Cash - CREDIT

  • 2. Paid $564 to install special shelving units, which increase the operating efficiency of the truck.

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$564 Cash - CREDIT

Explanation:

1. Paid $38 for an oil change  

$38 Maintenance Expenses  - DEBIT

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An oil change it's just an expenses of maintenance, which goes as General Expenses directly to the Income Statement.  

 

2. Paid $564 to install special shelving units, which increase the operating efficiency of the truck.  

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You are given the following information with respect to a bond: par value: 1000 term to maturity: 3 years annual coupon rate 6%
Minchanka [31]

Answer:

Tha annual effective yield rate for the bond is:

= 6.2%

Explanation:

a) Data and Calculations:

Bond par value = $1,000

Annual coupon rate = 6%

Annual spot interest rates = 7%, 8%, and 9% for year 1, year 2, and year 3 respectively

Current value of bond = $970 ($1,000 * 99% * 99% * 99%)

Annual coupon payments = $60 * 3 = $180

Effective rate for the three years = $180/$970 * 100 = 18.6%

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Match the following terms with their definitions. Salary, rewards, net pay, occupation, costs, benefit, deduction1. a fixed amou
Katena32 [7]

Answer:

1. A fixed amount of money periodically paid to a person for work – Salary

2. The price paid to acquire, produce, or accomplish something – costs

3. The portion of the wages that the employee actually gets to take home - net pay

4. Perks provided by your employer – benefit

5. Something that causes or increases personal satisfaction – rewards

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Explanation:

1. The salary is defined as the amount received by a person for work, this income does not include any extra benefit. to be considered as a salary it has to be paid periodically.

2. The cost is the expense caused for the production of a product, in the case of a service is the cost of offering it. includes direct and indirect labor force cost, amortized costs of the machinery and supplies (for products).

3. The net pay is the salary amount paid to an employee after the deduction of any amount legally recognized, it may include taxes and other items.

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6. The deduction is al legal reduction done by a company in the payment of an employee.

7. The occupation is the activity that a person develops to obtain living resources, it can include personal business or employment.

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