not asking for help with the site, trying to use excel solver to answer the questions The owners of the appliance store want to spend up to $250,000 on buying newstock. They need to buy at least 100 of each appliance. The prices of buyingappliances and the profits derived from selling them are shown in the following table,along with the floor area the devices require when stacked in the warehouse.Area (m?)ApplianceClothes dryerCoffee machineRefrigeratorPriceProfit$200$211.2$300$280.2$600$460.9Stereo008$$860.5Washing machine$300$401.5Use the Excel Solver to answer the following questions.1) How many of each appliance should the store buy if they want to get themaximum profit when the appliances are sold?2) What will the profit be and how much floor area is required in the warehouse?ApplianceClothes dryerNumberCoffee machineRefrigeratorStereoWashing machineМaхimum profitFloor area (m)

1) Each appliance should the store buy to maximize profit is as follows: Resultant table:

The owners of the appliance store want to spend up to $250,000 on buying new stock. They need to buy at least 100 of each appliance. The prices of buying appliances and the profits derived from selling them are shown in the following table, along with the floor area the devices require when stacked in the warehouse. Area (m?) Appliance Clothes dryer Coffee machine Refrigerator Stereo Washing machine Price Profit $200 $21 1.2 $300 $28 0.2 $600 $46 0.9 $800 $86 0.5 $300 $40 1.5 Use the Excel Solver to answer the following questions. 1) How many of each appliance should the store buy if they want to get the maximum profit when the appliances are sold? 2) What will the profit be and how much floor area is required in the warehouse?

The owners of the appliance store want to spend up to $250,000 on buying new stock. They need to buy at least 100 of each appliance. The prices of buying appliances and the profits derived from selling them are shown in the following table, along with the floor area the devices require when stacked in the warehouse. Area (m?) Appliance Clothes dryer Coffee machine Refrigerator Stereo Washing machine Price Profit $200 $21 1.2 $300 $28 0.2 $600 $46 0.9 $800 $86 0.5 $300 $40 1.5 Use the Excel Solver to answer the following questions. 1) How many of each appliance should the store buy if they want to get the maximum profit when the appliances are sold? 2) What will the profit be and how much floor area is required in the warehouse?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

london Printing wishes to print and market the book prepared by X person on engineering economy. There is a demand for the book in the market. Financial information about the book is given as follows. The copyrights fees are $ 300,000, painting costs $ 80, typesetting $ 150, printing and bending $ 3.5, ink and paper $ 6, bookstore discount $ 1.5, general administration costs $ 2, and the selling price of the book is $ 50. If this book is printed and sold, find the transition point to profit by using tables and graphics. If there is a $ 5 option ($ 45 or $ 55) about the book's selling price, how does the breakeven point change?
A clothing retailer is going to mail out 10,000 catalogues. It costs $2 to mail out each catalogue. When a customer places an order from a catalogue assume a profit of $50 per order is earned. It is assumed that 5% of those who receive a catalogue will place an order however, this number can vary. Use the file below to help you with your tables. Assume that: [total profit = total profit made from the orders – the amount spent on mailing out the catalogues]. a) Use a one-variable data table to determine how the total profit earned from the mailing will vary depending on a response rate between 4% and 10% (with increments of 2%). b) Create a two-variable data table to show how the total profit changes with a varying response rate and number of catalogues mailed. Vary the response rate between 4% and 10% with increments of 2% and vary the number of catalogues mailed from 10,000 to 30,000 at increments of 5000.
A service garage uses 204 boxes of cleaning cloths a year. The boxes cost $12 each. The cost to place one order is $15, and the cost to hold one box in inventory for a year is $2.40. Using this information, what is our total holding and ordering cost if we currently order 12 boxes at a time?
Good morning, Please answer questions Patsy Smith is planning to sell her special knife for $15 per unit. She purchases units from alocal distributor for $6 each. She can return any unsold units for a full refund. Fixed costs forbooth rental, including lighting and security is $4500.Requireda) Compute the breakeven point in units sold. b) Suppose the unit purchased is $5 instead of $6, the fixed cost increases by $500, butthe selling price is unchanged. Compute the new breakeven point in units sold. c) Using the above data, explain how cost behaviour affects Patsy Smith’s decisionmaking?
Megan's Bridal Shoppe is a bridal shop that offers wedding gowns. Each outfit sells for $1,000 on average, with variable expenses of $400 and fixed costs of $90,000. When 200 gowns are sold, what is the Bridal Shoppe's operational income?
1. A computer table sells for $198.50 and costs $158.70. Find the markup. Find the rate of markup based on the cost. a) b) 2. A flower arrangement is marked up $15, which is 30% of the cost. i) Find the cost. ii) Find the selling price.
Rita Jekyll operates a sales booth in computer software trade shows, selling an accounting software package, Abacus. She purchases the package from a software company for $175 each. Booth space at the convention hall costs $13,000 per show. Required a. Sales at past trade shows have ranged between 300 and 500 software packages per show. Determine the average cost of sales per unit if Ms. Jekyll sells 300, 350, 400, 450, or 500 units of Abacus at a trade show. Use the following chart to organize your answer. Is the cost of booth space fixed or variable? b. If Ms. Jekyll wants to earn a $56 profit on each package of software she sells at a trade show, what price must she charge at sales volumes of 300, 350, 400, 450, or 500 units? c. Record the total cost of booth space if Ms. Jekyll attends four, five, six, seven, or eight trade shows. Is the cost of booth space fixed or variable relative to the number of shows attended? d. Ms. Jekyll provides decorative shopping bags to customers who…
Rolf's Golf store sells golf balls for $27 per dozen. The store's overhead expenses are 26% of cost and the owners require a profit of 20% of cost. a. How much does Rolf's Golf store buy the golf balls for? _____________$ per dozen Round to the nearest cent b. What is the price needed to cover all the costs and expenses? _____________$ Round to the nearest cent c. What is the highest rate of markdown at which the store will still break even? _____________% Round to two decimal places d. What markdown rate would price the golf balls at cost? _____________% Round to two decimal places
Bigdog Company distributes pet products. Its ABC system has five activities: Activity Area Cost Driver Rate in 2020 1. Order processing $50 per order 2. Line-item ordering $5 per line item 3. Store deliveries $40 per store delivery 4. Carton deliveries $6 per carton 5. Shelf-stocking $19 per stocking hour Rufus McBrain, the controller of Bigdog Company, wants to use this ABC system to examine customer profitability. He focuses on two of his customers to find out the insights he can gain from using this system. Data for these two customers in April 2020 are as follows: Pet Store Annerley RSPCA store Springwood Total orders 13 7 Average line items per order 11 19 Total store deliveries 5 7 Average cartons shipped per store delivery 21 18 Average hours of shelf stocking per store delivery 0.5 0.75 Average revenue per delivery $2,600 $1,900 Average cost of goods sold per delivery…
Bigdog Company distributes pet products. Its ABC system has five activities: Activity Area Cost Driver Rate in 2020 1. Order processing $50 per order 2. Line-item ordering $5 per line item 3. Store deliveries $40 per store delivery 4. Carton deliveries $6 per carton 5. Shelf-stocking $19 per stocking hour Rufus McBrain, the controller of Bigdog Company, wants to use this ABC system to examine customer profitability. He focuses on two of his customers to find out the insights he can gain from using this system. Data for these two customers in April 2020 are as follows: Pet Store Annerley RSPCA store Springwood Total orders 13 7 Average line items per order 11 19 Total store deliveries 5 7 Average cartons shipped per store delivery 21 18 Average hours of shelf stocking per store delivery 0.5 0.75 Average revenue per delivery $2,600 $1,900 Average cost of goods sold per delivery…
This question is based on t he following information: B Hon Company purchases thermostats and use them in heating units it manufactures. Annual requirement for the thermostat is 2,000 units. The cost per thermostat is P 20. The cost of placing a single order is P 50 while the cost of storage is 25% of the average inventory value. The suppler of the thermostat offers a discount of 2% if the company will order in lots of 500 units. 1. How much would be the total costs associated with the inventory if the company adopts the discounted ordering policy? . A. P 40,000 B. P 40,625 C. P 41,000 D. P 42,0002. How much is the net cash flow net of income taxes for the 3rd year?A. 17,268B. 22,000C. 22,994D. 30,618
A factory sells an item to the wholesalers at a profit of 5%. The wholesaler sells the item to the retailer at a profit of 10%. The retailer sells the item to the public at a profit of 25%. All businesses add VAT of 15%. Required: 2.1 Complete the following table. Factory Wholesaler Retailer Cost Price R 600 ? 5 430,00 ? 3 345,60 ? ? 100,00 ? ? Profit ? ? 2.2 Complete the table below by calculating the missing amounts. Amount (R) VAT (R) 156,80 ? ? VAT ? ? ? 15,68 0 Exempt Selling Price ? ? ? TOTAL (R) ? ? 4058,40 ? ? 74,90 ?