ISYS 363 – Self Assessment Problems Prior Homework Questions from ISYS 263 Problem OneThe purchase of a car usually entails extensive bargaining between the dealer and the consumer. The dealer has an asking price but typically settles for less. The commission paid to a salesperson depends on how close the selling price is to the asking price. Moe’s Miracle Motors has the following compensation policy for its sales staff. A 5.00 % commission on the actual selling price for cars sold at 95% or more of the asking price. A 2.50 % commission on the actual selling price for cars sold at 90% or more (but less than 95%) of the asking price. A 1% commission on the actual selling price for cars sold less than 90% of the asking price. The dealer will not sell for less than 85% of sales price. The dealer’s price is based on the dealer’s cost plus a 25.00 % markup; for example the asking price on a car that cost the dealer $20,000 would be $25,000. Develop a worksheet to be used by the dealer, which shows his profit (the selling price minus the salesperson’s commission and dealers cost) on every sale. The worksheet should be completely flexible and allow the dealer to vary the markup or commission percentages without having to edit or recopy any of the formulas. You should be able to enter in the prices for three different vehicles at a time.
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