Chapter 11: Merchandising Supplemental Questions

Question 1

The wholesale cost of a casket is $500 and the retail price is $1500. What is the CVI?

Answer 1

33.3%

Question 2

The wholesale cost of a casket is $795 and the retail price is $1985. What is the CVI?

Answer 2

40%

Question 3

What is the margin or gross casket profit of the unit whose wholesale cost is $500 and retail price is $1500

Answer 3

$1000

Question 4

What is the margin or gross casket profit of the unit whose wholesale cost is $795 and retail price is $1985?

Answer 4

$1190

Question 5

If the wholesale cost is $350 and the service and merchandise price is $5000, what is the MVR?

Answer 5

7%

Question 6

If the wholesale cost is $500 and the service and merchandise price is $4000, what is the MVR?

Answer 6

12.5%

Question 7

What is the selling price of a casket with a wholesale cost of $900 and the funeral home’s fixed multiple is 3%

Answer 7

$2700

Question 8

What is the selling price of a casket with a wholesale cost of $350 and the funeral home’s fixed multiple is 2.5?

Answer 8

$875

Question 9

The sales for the week were $800, $2500, $4700, and $700. What is the mean selling price?

Answer 9

$2175

Question 10

Sales for the week were $500, $600, $700, $1000, and $1100. Determine the median

Answer 10

$700

Question 11

Sales for the week were $750, $1100, $1100, $1225, $1250, $1525, $1100, and $1100. Determine the mode

Answer 11

$1100