Big Boy Appliances bought self-cleaning ovens for $829.00 less 33&1/3%,16&2/3%,5.5%. Expenses are 15% of the regular selling price and profit is 8% of the regular selling price. For competitive reasons the store marks all merchandise with an artificially inflated selling price so that a discount of 20% can be advertised without affecting the margin. At the end of the summer, to promote sales, the ovens were marked down 48%.
a.) What was the cost of the oven to Big Boy Appliances? b.) What is the regular selling price? c.) Calculate the expenses. d.) Calculate the artificially inflated selling price e.) Calculate the marked down (end of summer) price. f.) What profit or loss was realized on the ovens at the marked down price?