Question

1.

Import Exclusives Ltd. received an invoice from Dansk Specialties of Copenhagen with terms 5​/20 R.O.G. for the items listed below.

110 teak trays at ​$35.50 each

20 teak buckets at ​$60.10 each

35 teak salad bowls at ​$54.90 each

All items are subject to trade discounts of 31 2/3​%, 6 1/2​%, and 4​%.

​(a)	If the shipment was received on April 26​, what is the last day of the discount​ period?
​(b)	What is the amount due if the invoice is paid in full on May 10​?
​(c)	If only a partial payment is made on the last day of the discount​ period, what amount is needed to reduce the outstanding balance to ​$2200​?

3.

​Guiseppe's buys supplies to make pizzas at a cost of $5.57. Operating expenses of the business are 132% of the cost and the profit he makes is 193% of cost. What is the regular selling price of each​ pizza?

Answer 1