Phoenix Electronics uses a distribution channel that includes wholesalers to retailers to final consumers. The Phoenix Smart Watch is priced to wholesale at $180.00. Phoenix earns a 25% margin on each Smart Watch unit. Phoenix's wholesalers markup each unit for $60.00. Retailers typically charge $450.00 to customers during holiday season for a Smart Watch, but the unit can be priced by retailers as low as $400.00 during regular season. How much profit margin percentage (GPM %) do Phoenix's wholesalers earn and what is their markup on cost percentage? Show your complete solution.
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- Ayayai Taco Palace sells 240 gift cards at $40 per gift card and 120 of the gift cards are redeemed by year-end. Ayayai estimates that it will have 10% breakage on its gift cards. Prepare the entry for the gift card redemption and the expected breakage for the gift cards in the current year. (Ignore Cost of Goods Sold.) (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries. Round intermediate calculations to 4 decimal places, e.g. 0.2456 and final answers to O decimal places, e.g. 5,125.) Account Titles and Explanation Unearned Gift Card Revenue Sales Revenue Sales Revenue (Breakage) Debit Credit 4800 960Microbiotics currently sells all of its frozen dinners cash-on-delivery but believes it can increase sales by offering supermarkets 1 month of free credit. The price per carton is $170, and the cost per carton is $100. The unit sales will increase from 1,120 cartons to 1,180 per month if credit is granted. Assume all customers pay their bills and take full advantage of any credit period offered. a. If the interest rate is 1% per month, what will be the change in the firm's total monthly profits on a present value basis if credit is offered to all customers? (Do not round intermediate calculations. Round your answer to 2 decimal places.) b. If the interest rate is 1.5% per month, what will be the change in the firm's total monthly profits on a present value basis if credit is offered to all customers? (Do not round intermediate calculations. Round your answer to 2 decimal places. Negative amount should be indicated by a minus sign.) c. Assume the interest rate is 1.5% per…Microbiotics currently sells all of its frozen dinners cash-on-delivery but believes it can increase sales by offering supermarkets 1 month of free credit. The price per carton is $170, and the cost per carton is $100. The unit sales will increase from 1,120 cartons to 1,180 per month if credit is granted. Assume all customers pay their bills and take full advantage of any credit period offered. a. If the interest rate is 1% per month, what will be the change in the firm's total monthly profits on a present value basis if credit is offered to all customers? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. b. If the interest rate is 1.5% per month, what will be the change in the firm's total monthly profits on a present value basis if credit is offered to all customers? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Negative amount should be indicated by a minus sign. c. Assume the interest rate is 1.5% per month…
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