**Question - **Case 8-3 TemplateComplete the following case studies from Ch. 8 & 9 of Business Math: Case Study 8-3, p. 300 Case Study 9-1, p. 344 Use the provided Microsoft Excel template for your answers. Note. Show all work and calculations. (The use of Microsoft Excel software is required.) Click the Assignment Files tab to submit your assignment.INSTRUCTIONS: Read the case in the textbook. As a team, answer the questions in this spreadsheet, then save and submit the assignment as one Microsoft® Excel® attachment. Also, submit a 1-paragraph Microsoft® Word document explaining any issues or successes you had in answering these questions.Refer to and use the following abbreviations for the problems below: • PP = Parma minimum supply p
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urchase • S1 = Supplier 1 • S2 = Supplier 2 • CDF = Chain Discount Factor • NP = Net Price • NDE = Net Decimal Equivalent • TD = Trade Discount1. The Artist’s Palette purchases its inventory from a number of suppliers and each supplier offers different purchasing discounts. The manager of The Artist’s Palette, Marty Parma, is currently comparing two offers for purchasing modeling clay and supplies. The first company offers a chain discount of 20/10/5, and the second company offers a chain discount of 18/12/7 as long as the total purchases are $300 or more. Assuming Parma purchases $300 worth of supplies, a) what is the net price from supplier 1? And b) From supplier 2? And c) From which supplier would you recommend Parma purchase her modeling clay and supplies?(Use this cell to answer parts a, b, and c. Be sure to show your work.) Now use the marked cells below to fill in the appropriate numbers for the variables to check your answers. Va r i a b l e s U s e dS1S2PP=1st CDF2nd CDF3rd CDFExcel FormulaNP=In the yellow cells, create the Microsoft® Excel® formulas that will give you the net prices for the two suppliers. Use cell references in the formula—do NOT use numbers.2. What is the net decimal equivalent for supplier 1? For supplier 2?(Show your work in this cell to solve for the net decimal equivalent for the two suppliers.) Use the marked cells below to fill in the appropriate numbers for the variables to check your answers. Va r i a b l e s U s e dS1S21st CDF2nd CDF3rd CDFExcel FormulaNDE=In the yellow cells, create the Microsoft® Excel® formulas that will give you the net decimal equivalent for the two suppliers. Use cell references in the formula—do NOT use numbers. 3. What is the trade discount from supplier 1? From supplier 2? (Show your work in this cell to solve for the trade discount for the two suppliers.) Use the marked cells below to fill in the appropriate numbers for the variables to check your answers. Va r i a b l e s U s e dS1S2PP=NDEExcel FormulaTD=In the yellow cells, create the Microsoft® Excel® formulas that will give you the trade discount for the two suppliers. Use cell references in the formula—do NOT use numbers.4. The Artist’s Palette recognizes that students may purchase supplies at the beginning of the term to cover all of their art class needs. Because this could represent a fairly substantial outlay, the Artist’s Palette offers discounts to those students who pay sooner than required. Assume that if students buy more than $250 of art supplies in one visit, they may put it on a student account with terms of 2/10, n/30. If a student purchases $250 of supplies on September 16, what amount is due by September 26? How much would the student save by paying early?(Show your work in this cell to solve for the amount due by September 26 and the amount saved by paying early.) Use the marked cells below to fill in the appropriate numbers for the variables to check your answers. Va r i a b l e s U s e dOriginal Cost=Discount=Excel FormulaDue by 9/26=Amount savedIn the yellow cells, create the Microsoft® Excel® formulas that will give you the amount due by September 26 and the amount saved by paying early. Use cell references in the formula—do NOT use numbers.5. Assume that if students buy more than $250 of art supplies in one visit, they may put the charge on a student account with terms of 2/10 EOM. If a student makes the purchase on September 16, on what day does the 2% discount expire? If the purchase is made on September 26, on what day does the 2% discount expire? If you were an art student, which method would you prefer: 2/10, n/30, or 2/10 EOM?(Use this cell to respond to the questions.)
Case 9-1 TemplateINSTRUCTIONS: Read the case in the textbook. As a team, answer the questions in this spreadsheet, then save and submit the assignment as one Microsoft® Excel® attachment. Also, submit a 1-paragraph Microsoft® Word document explaining any issues or successes you had in answering these questions.Refer to and use the following abbreviations for the problems below: • BT = Box of tea • S&H = Shipping and handling • P = Desired profit per box of tea • RFP = Rice-filled pad (Show your work in this cell to solve for the markup percentage for a box of ginger tea.) Use the marked cells below to fill in the appropriate numbers for the variables to check your answers. Va r i a b l e s U s e dCost per BT=S&H=P=Excel FormulasGinger Tea % MarkupIn the yellow cells, create the Microsoft® Excel® formula that will give you the ginger tea markup percentage. Use cell references in the formula—do NOT use numbers. 2. If the rice-filled heating pads sell for $7.00, $10.00, and $15.00 for small, medium, and large, respectively, what is the markup percentage on each one?(Show your work in this cell to solve for the markup percentages for small, medium, and large rice-filled heating pads.) Use the marked cells below to fill in the appropriate numbers for the variables to check your answers. Va r i a b l e s U s e dSmall RFP Selling Price=Medium RFP Selling Price=Large RFP Selling Price=Small RFP Cost=Medium RFP Cost=Large RFP Cost=Excel FormulasSmall % Markup=Medium % Markup=Large % Markup=In the yellow cells, create the Microsoft® Excel® formulas that will give you the markup percentages for small, medium, and large rice-filled heating pads. Use cell references in the formula—do NOT use numbers. 3. Karen wants to compare using the cost plus method to the percentage markup method. If she sells 2 small rice pads, 4 medium rice pads, 2 large rice pads, and 20 boxes of $3.50 tea in a month, how much profit does she accumulate? What markup percentage based on cost would she have to use to make the same amount of profit on this month’s sales? (Show your work in this cell to solve for the profit she accumulates and the markup percentage based on cost she would have to use to make the same amount of profit.) Use the marked cells below to fill in the appropriate numbers for the variables to check your answers. Amount SoldVa r i a b l e s U s e dSmall RFP Selling Price=Medium RFP Selling Price=Large RFP Selling Price=BT Selling PriceSmall RFP Cost=Medium RFP Cost=Large RFP Cost=BT CostExcel FormulasTo t a l P r o f i tTo t a l C o s tMarkup % based on cost=In the yellow cells, create the Microsoft® Excel® formulas that will give you the total profit, total cost, and required markup percentage based on cost. Use cell references in the formula—do NOT use numbers.4. What prices should Karen charge (using the markup percentage) to obtain the same amount of profit as she did with the cost plus method? Do not include shipping.(Show your work in this cell to solve for the profit she accumulates and the markup percentage based on cost she would have to use to make the same amount of profit.) Use the marked cells below to fill in the appropriate numbers for the variables to check your answers. Va r i a b l e s U s e dSmall RFP Cost=Medium RFP Cost=Large RFP Cost=BT CostMarkup % based on cost=Excel FormulasSmall RFP Selling Price=Medium RFP Selling Price=Large RFP Selling Price=BT Selling PriceIn the yellow cells, create the Microsoft® Excel® formulas that will give you the selling prices based on markup percentage. Use cell references in the formula—do NOT use numbers. ...Read Less

**Solution Preview - **he textbook. As a team, answer the questions in this spreadsheet, then save and submit the assignment as one Microsoft® Excel® attachment. Also, submit a 1-paragraph Microsoft® Word document explaining any issues or successes you had in answering these questions.Refer to and use the following abbreviations for the problems below: • PP

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