Q1. Murray furniture store sells couches as a retailer. The wholesale cost to them of their most popular model of couch varies depending on how many they purchase for sale. For the first 200 couches the cost is $299 each; for the next 200 couches it drops to $250 each; and for every couch after that it costs $225. Create an excel function using the IF function to show the gross profit under the following scenarios: a. b. It sells at a price of $650 and 350 units are purchased for sale and sold It sells at a price of $625 and 300 units are purchased for sale and sold It sells at a price are $700 and 1,000 units are purchased for sale and sold C.
Q1. Murray furniture store sells couches as a retailer. The wholesale cost to them of their most popular model of couch varies depending on how many they purchase for sale. For the first 200 couches the cost is $299 each; for the next 200 couches it drops to $250 each; and for every couch after that it costs $225. Create an excel function using the IF function to show the gross profit under the following scenarios: a. b. It sells at a price of $650 and 350 units are purchased for sale and sold It sells at a price of $625 and 300 units are purchased for sale and sold It sells at a price are $700 and 1,000 units are purchased for sale and sold C.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Q1.
Murray furniture store sells couches as a retailer. The wholesale
cost to them of their most popular model of couch varies depending on how many
they purchase for sale. For the first 200 couches the cost is $299 each; for the next
200 couches it drops to $250 each; and for every couch after that it costs $225.
Create an excel function using the IF function to show the gross profit under the
following scenarios:
a.
b.
It sells at a price of $650 and 350 units are purchased for sale and sold
It sells at a price of $625 and 300 units are purchased for sale and sold
It sells at a price are $700 and 1,000 units are purchased for sale and sold
C.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd1833356-83f5-4707-b448-edc9b2380e8e%2F8c104fc5-dcaf-49d5-85b9-bc720f9b6f10%2Filft064_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Q1.
Murray furniture store sells couches as a retailer. The wholesale
cost to them of their most popular model of couch varies depending on how many
they purchase for sale. For the first 200 couches the cost is $299 each; for the next
200 couches it drops to $250 each; and for every couch after that it costs $225.
Create an excel function using the IF function to show the gross profit under the
following scenarios:
a.
b.
It sells at a price of $650 and 350 units are purchased for sale and sold
It sells at a price of $625 and 300 units are purchased for sale and sold
It sells at a price are $700 and 1,000 units are purchased for sale and sold
C.
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