# This homework is to be done

FMM 225 Module Four Problem Set Notes: This homework is to be done individually. Word-process your assignment within this template. Do not create a new file. Show all steps used in arriving at the final answers. Incomplete solutions will receive partial credit. Purchase Order Assignment Suppose the following information is given for a purchase order. Purchase Order Number: 10220801 Entry Date: February 22, 2012 Ship Date: March 22, 2012 Cancel Date: May 29, 2012 Shipping and Dating Terms: 2/10, n/30 FOB 50/50 Department Number: 100 Vendor Number: 12345 Departmental Markup Plan: 50% Store Number: (Only one store) 12 Order the following items: Item 40: Green cotton shirt, unit cost \$21, unit retail price \$42, a total of 2,400 units Item 60: Striped shirt, unit cost \$16, unit retail price \$40, a total of 3,800 units Item 62: Pants, unit cost \$35, unit retail price \$75, a total of 1,400 units Complete the purchase order using the following template. Calculate the total order cost, the total order retail, and the order markup percent. Then compare the order markup percent to the planned department markup. Total cost = units ordered x unit cost Item 40: 2,400 x \$21 = \$50,400 Markup = retail cost / retail Item 60: 3,800 x \$16 = \$60,800 357,800 160,200 / 357,800 = 55% Item 62: 1,400 x \$35 = \$49,000 Total retail = units ordered x unit retail Item 40: 2,400 x \$42 = \$100,800 Item 60: 3,800 x \$40 = \$152,000 Item 62: 1,400 x \$75 = \$105,000 The planned dept. markup percent was 50% but the actual markup percent was 55% so that means they under estimated the cost by 5% PURCHASE ORDER COMPANY A purchase Order Number: 10220801 Date Entered: feburary 22, 2012 Ship Date: March 22, 2012 Cancel Date: May 29, 2012 Department Number: 100 Vendor Number: 12345 Store Number: 12 SHIPPING Terms FOB 50/50 qty item # description unit Cost Unit Retail Total Cost Total Retail 2,400 40 Green Cotton Shirt \$21 \$42 \$50,400 \$100,800 3,800 60 Striped Shirt \$16 \$40 \$60,800 \$152,000 1,400 62 Pants \$35 \$75 \$49,000 \$105,000 Total Order Cost = \$160,200 Total Order Retail = \$357,800 Order Markup % = Planned Dept. Markup % = 50%

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