Due by 9/26=
In the yellow cells, create the Microsoft® Excel® formulas that will give
trade discount for the two suppliers. Use cell references in the formula
5. Assume that if students buy a minimum of $250 of art supplies in one visit, they may put the charge on a student with terms of 2/10 EOM. If a student makes the purchase on September 16, on what day does the 2% discount expir purchase is made on September 26, on what day does the 2% discount expire? If you were an art student, which me would you prefer: 2/10, n/30, or 2/10 EOM?
In the yellow cells, create the Microsoft® Excel® formulas that will give amount due by September 26 and the amount saved by paying early. U
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 class needs. Because this could represent a fairly substantial outlay, the Artist’s Palette offers discounts to those st
who pay sooner than required. Assume that if students buy a minimum of $250 of art supplies in one visit, they may a student account with terms of 2/10, n/30. If a student purchases $250 of supplies on September 16, what amount September 26? How much would the student save by paying early?
Use the marked cells below to fill in the appropriate numbers for the variables to check your answers.
Discount = 0.02 Amount due = (1-0.02)*250 = $245 Amount saved = 250 - 245 = $5 The 2% discount expires on October 10th. I would prefer 2/10 EOM over 2/10, n/30 since for 2/10 EOM, the money can always be paid after the month with a d while with 2/10 n/30 it must be paid within the month, a specific window, to get a discount.
Case 8-3 Template Variables Used S1 S2 PP= $300.00 $300.00 1st CDF 0.80 0.82 2nd CDF 0.90 0.88 3rd CDF 0.95 0.93 Excel Formula NP= $205.20 $201.33 2. What is the net decimal equivalent for supplier 1? For supplier 2? Variables Used S1 S2 1st CDF 0.80 0.82 2nd CDF 0.90 0.88 3rd CDF 0.95 0.93 Excel Formula NDE= 0.684 0.671088 3. What is the trade discount from supplier 1? From supplier 2? Variables Used S1 S2 PP= $300.00 $300.00 NDE 0.684 0.671088 Excel Formula TD= $94.80 $98.67 INSTRUCTIONS: Read the case in the textbook. As a team, answer the quesTons in this spreadsheet, then save and submit the assignment as one Microsof® Excel® a±achment. Also, submit a 1-paragraph Microsof® Word document explaining any issues or successes you had in answering these quesTons. ReFer to and use the Following abbreviaTons For the problems below: • PP = Parma minimum supply purchase • S1 = Supplier 1 • S2 = Supplier 2 • CD² = Chain Discount ²actor • NP = Net Price • NDE = Net Decimal Equivalent • ³D = ³rade Discount 1. The Ar±st’s Pale²e purchases its inventory from a number of suppliers and each supplier o³ers di³erent purchasing discounts. The manager of The Ar±st’s Pale²e, Marty Parma, is currently comparing two o³ers for (Use this cell to answer parts a, b, and c. Be sure to show your work.) a)S1 100%-20%CD²=80%=0.80NDE 100%-10%CD²=90%=0.90NDE 100%-5%CD²=95%=0.95NDE 0.8(0.9) (0.95)=0.684NDE 0.684($300)=$205.20NP b)S2 100%-18%CD²=82%=0.82NDE 100%-12%CD²=88%=0.88NDE 100%-7%CD²=93%=0.93NDE 0.82(0.88)(0.93)=0.671088NDE 0.671088($300)=$201.33NP c)RecommendaTons would be to purchase From supplier 2 as the net price is lower at $201.33 compared to supplier 1 at $205.20. Now use the marked cells below to ´ll in the appropriate numbers For the variables to check your answers. In the yellow cells, create the Microsof® Excel® Formulas that will give you the net prices For the two suppliers. Use cell reFerences in the Formula—do NO³ use numbers. (Show your work in this cell to solve For the net decimal equivalent For the two suppliers.) S1 Complements oF ³D 0.8(0.9)(0.95)=0.684NDE S2 Complements oF ³D 0.82(0.88)(0.93)=0.671088 Use the marked cells below to ´ll in the appropriate numbers For the variables to check your answers.