Skirts have recently become a big item for the Soleon Department Store. The buyer was able...

Skirts have recently become a big item for the Soleon Department Store. The buyer was able to obtain 3 different styles. Her order is as follows:

Style Number	# items	Unit cost	Unit retail	Total cost	Total retail	MU%
SK2810120	50	$32.00
SK2700427	10	$54.50
SK2450815	20	$43.00

If the average markup goal for these 3 skirt styles is 55%, what is the expected total dollar retail for them? (5 points)

Solutions

Expert Solution

Solution:

Markup is always made on cost.Thus required calculations are as follow:

i)Unit retail and total dollar retail

a)SK2810120=Unit cost(1+markup)

=$32.00(1+0.55)=$49.6

Total dollar retail=Unit retail*Total unit

=$49.6*50=$2,480

b)SK2700427=$54.50*(1+0.55)

=$84.475

Total dollar retail=Unit retail*Total unit

=$84.475*10=$844.75

c)SK2450815=$43.00(1+0.55)

=$66.65

Total dollar retail=$66.65*20=$1,333

ii)Total Cost

Total cost=Unit cost*No. of unit

a)SK2810120=$32*50

=$1600

b)SK2700427=$54.50*10

=$545.

c)SK2450815=$43.00*20

=$860

jeff jeffy answered 2 years ago

Next > < Previous

Related Solutions

The following data are monthly sales of jeans at a local department store. The buyer would...

The following data are monthly sales of jeans at a local department store. The buyer would like to forecast sales of jeans for the next month, July. (a) Forecast sales of jeans for March through June using the naïve method, a two-period moving average, and exponential smoothing with an ? = 0.2. (Hint: Use naïve to start the exponential smoothing process.) (b) Compare the forecasts using MAD and decide which is best. (c) Using your method of choice, make a...

Brass Department Store stocks toy cars. Recently, the store was given a quantity discount schedule for...

Brass Department Store stocks toy cars. Recently, the store was given a quantity discount schedule for the cars, as shown in Table below. Thus, the normal cost for the cars is $5. For orders between 1,000 and 1,999 units, the unit cost is $4.80, and for orders of 2,000 or more units, the unit cost is $4.75. Furthermore, the ordering cost is $49 per order, the annual demand is 5,000 race cars, and the inventory carrying charge as a percentage...

Grande Stores is a large discount catalog department store chain. The company has recently expanded from...

Grande Stores is a large discount catalog department store chain. The company has recently expanded from six to 43 stores by borrowing from several large financial institutions and from a public offering of common stock. A recent investigation has disclosed that Grande materially overstated net income. This was accomplished by understating accounts payable and recording fictitious supplier credits that further reduced accounts payable. An SEC investigation was critical of the evidence gathered by Grande’s audit firm, Montgomery & Ross, in...

Recently, immunizations have become a major topic in health care at the governmental level. Based on...

Recently, immunizations have become a major topic in health care at the governmental level. Based on community-level data, you have identified the need to increase immunization rates in the refugee and immigrant population in your community. Whom might you enlist as partners in planning and implementing programs to achieve desired health outcomes at the community level? Why did you select these partners?

Lucy Brown is the manager of one department in a big store. In this capacity, which of the following kinds of information would he be interested in?

QUESTION 1Lucy Brown is the manager of one department in a big store. In this capacity, which of the following kinds of information would he be interested in?A.Financial, economic, and nonfinancial dataB.Economic dataC.Nonfinancial DataD.Financial DataQUESTION 2A company has high operating leverage when:A.small percentage changes in revenue produce large percentage changes in profit.B.the organization makes purchases on credit instead of paying cash.C.a company utilizes debt to finance its assets.D.management buys enough of the company's shares of stock to take control of...

Consumers have 5 key reactions to stockouts: Buy the item at another store Substitute a different...

Consumers have 5 key reactions to stockouts: Buy the item at another store Substitute a different brand Substitute the same brand Delay the purchase Do not purchase the item at all Thinking about that, please answer the following: What is a stockout? Please define this in your own terms Of the five reactions listed above… how do YOU find yourself reacting as a customer in a stockout situation? Why do you think that is? Of the five reactions listed above…...

A department store is planning their Spring advertising campaign. They have budgeted $200,000 to use for...

A department store is planning their Spring advertising campaign. They have budgeted $200,000 to use for advertising, and wish to reach the maximum number of potential customers. The advertising firm they are using has carefully obtained the following planning data, to ensure that their client is able to get the most customer impressions possible. Characteristics Advertising Medium Newspaper Radio Television People reached per unit 40,000 120,000 175,000 Number of persons with higher income per unit 25,000 40,000 56,000 Number of...

You have been recently hired in the human resources department at the company you have always...

You have been recently hired in the human resources department at the company you have always dreamed of working for. At the end of your first day, your manager, I. M. DeBoss, on her way out of the office says to you: “So Mr./Ms. Jones, what things come to mind when you think of the word “ethics”? Before you can answer, she asks you if you believe ethics are important for a company and if so why do you feel...

You have been recently hired in the human resources department at the company you have always...

You have been recently hired in the human resources department at the company you have always dreamed of working for. At the end of your first day, your manager, I.M. DeBoss, on her way out of the office says to you: “So Mr./Ms. Jones, what things come to mind when you think of the word 'ethics'?" Before you can answer, she asks you if you believe ethics are important for a company and if so why do you feel that...

You have recently been appointed the Chief Financial Officer of Big Dreams Limited, a company in...

You have recently been appointed the Chief Financial Officer of Big Dreams Limited, a company in the fast moving consumer goods industry. The shareholders of the company at their Annual General Meeting approved an ambitious major expansion project that will enable the company to gain market share. You as the CFO has been tasked with preparing a report for the company’s board of directors clearly evaluating the available financing options

Subjects