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HUEC_3043_Final_Exam

# HUEC_3043_Final_Exam - HUEC 3043 Final Exam Spring 2011...

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HUEC 3043 Final Exam Spring 2011 Directions: Please complete the following exam in Microsoft word and upload as a .doc file to Moodle by NOON on SATURDAY, MAY 14, 2011. No late finals will be accepted and will automatically result in a grade of ZERO! Please type out the formulas you would use as well as your final answer. 1. The net sales of department X were \$46,780. The customer returns were \$2,342. What are gross sales? 2. A specialty dress shop made purchases amounting to \$3,700 at cost, with 8% cash discounts earned, workroom costs of \$100, and no transportation charges. Determine the total cost of the merchandise. 3. A drugstore has net sales of \$490,000, with the cost of merchandise sold at \$240,000. If the buyer must achieve a 5% net profit, calculate the allowable expenses in dollars and as a percentage. 4. Set up a skeletal statement that shows the following figures as dollars and as a percentage: Net Profit: \$5,500 Net Profit: 2.5% Operating Expenses: 47.5% 5. If a department experiences a loss of 3% during a six-month period and its gross margin is 43%, what must its expense percentage be?

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HUEC_3043_Final_Exam - HUEC 3043 Final Exam Spring 2011...

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