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W3_Assignment 1.docx

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Assignment 1: Determine Cost Task Calculate the answers to the following pricing scenarios. Show step-by-step calculations starting with the application of formula to arrive at the answer. Scenario 1 a. A small couture boutique has a pair of designer jeans selling @$1200.00 with a 64 percent markup. What is the cost of these jeans? b. If the boutique sales manager wishes to make a 75 percent markup, what would the new retail price on the same pair of jeans be? Scenario 2 Alicia plans to spend $9
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  Assignment 1: Determine Cost   Task Calculate the answers to the following pricing scenarios. Show step-by-step calculations starting with the application of formula to arrive at the answer. Scenario 1  a.   A small couture boutique has a pair of designer jeans selling @$1200.00 with a 64  percent markup. What is the cost of these jeans?  b.   If the boutique sales manager wishes to make a 75 percent markup, what would the new retail price on the same pair of jeans be? Scenario 2  Alicia plans to spend $95,000 (retail value) in May to fill the inventory for the swimsuit department of her retail store. She has already spent $21,000 at cost. If the planned markup she needs to achieve is 41.4 percent, how much in dollars does she have to spend at cost? Scenario 3  If a three-piece set of rhinestone costume jewelry pieces sell for $15.00 and they cost the retailer $75.00 per dozen, how much is the markup% at retail for each set of jewelry? Deliverable  Use the given template to document your responses and submit it to the W3: Assignment 1 Dropbox  by Saturday, September 7, 2013 . You can use the Word or Excel template depending on your comfort  —you’ll be graded on the calculations and not on the choice of template.   Participation  Start reviewing and responding to your classmates as early in the week as possible. Continue the discussion through the end of the week. By Monday, September 9, 2013 , review and respond to at least two of your classmates' work, providing constructive feedback, suggestions, questions, and additional helpful information. Each peer response should be a minimum of 150 words. Information, comments, and conclusions should be supported by your research and sources. Keep the following in mind when you are responding to your peers:    Did they discuss any thoughts that you had not considered?    What did you learn from their post? Grading Scale for Assignment Criteria:    Excellent   Good   Moderate   Needs Improvement   Below Standard   Unacceptable  5 Points 4.5 4 3.5 3 0  –  2 Points Excellent   Good   Moderate   Needs Improvement   Below Standard   Unacceptable  10 Points 8.5 8 6.5 6 0  –  4 Points Excellent   Good   Moderate   Needs Improvement   Below Standard   Unacceptable  15 Points 12.5 12 9.5 9 0  –  6 Points Excellent   Good   Moderate   Needs Improvement   Below Standard   Unacceptable  20 Points 16.5 16 12.5 12 0  –  8 Points Assignment 1 Grading Criteria   Maximum Points   Content  Correctly calculated the cost of jeans. 10  Correctly calculated the revised retail price of jeans. 10 Correctly calculated the cost, in dollars, that Alicia needs to spend for the swimsuit department. 10 Correctly calculated the markup% at retail for each set of jewelry.  5 Demonstrated step-by-step calculations for all scenarios. 5 Format  Used the given template to document responses and submitted it to the W3: Assignment 1 Dropbox  by Saturday, September 7, 2013 . Used the provided Word or Excel template. 5 Participation   Commented on at least two peers’ assignments with specific remarks within 48 hours of the assignment deadline  —  Monday, September 9, 2013  —  at least 150 words for each response. Comments included at least two of the following:    Questions regarding the content of assignment.    Observations regarding the content of assignment.    Constructive feedback to assist classmates with improving their work. Vocabulary and topics from the text/lecture should be used to 5  support your discussion, and sources should be cited in MLA format. Total:   50   For assistance with any problems you may have when completing this assignment — OR — to offer your assistance to classmates, please use the Problems and Solutions Discussion area located through the left side navigation link.
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