objective: process the sale to complete the exchange
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Day 1 Slides 3 through 7 Check writing Purchase Orders Parts of a check Purchase Orders Adding sales tax Shipping chargesTRANSCRIPT
Objective: Process the sale to complete the exchange.
2.11 Marketing Math Objective:Process the sale to complete the
exchange. Day 1 Slides 3 through 7 Check writing Purchase
Orders
Parts of a check Purchase Orders Adding sales tax Shipping charges
Person/Place to whom you are writing the check to
Current Date YY Person/Place to whom you are writing the check to
Numerical amount Dollar amount of the check in words cents over 100
follow through with at line What you are Writing the check for Your
Signature Credit Card vs. Debit Card
Cheaper than Credit Card Flat Rate of $0.59 Faster than Check Money
is transferred immediately Some offer debit card discount
Extensions and Subtotal
John Smith 7150 E. 24th Street Yuma, AZ 85365 04/08/11 6 38760 3
Shirts $29.95 $89.95 2 Belts 36.95 $73.90 2 Pair of Boots 125.00
$250.00 3 Halters 37.95 $113.85 $527.60 7% Company you are
purchasing from
7% Day 2 Slides 9 through 29 Use to answer notes and worksheets
Making Change Simple Math! Subtraction Bill Total = $18.95
Customer has $20.00 How Much Change? Extensions
Multiplication
Multiply the number of units by the price per unit 12 Cans of Soda
$0.50 per can 12 x $0.50 = $6.00 Methods of payment for a
sale
Cash or check Sales Credit Card Debit Card Layaway On Approval Cash
On Delivery Cash or Check 23% of sales are cash 4.3% of sales are
check
Cash is King: Some stores will not accept checks All stores have
check policies License or ID Phone Number Bounced check charges
Credit Card vs. Debit Card
Businesses pay a credit card fee 1.79% to 3.25% of the transaction
Stores may set charging limits Other Methods of Payment
Cash-on-Delivery : (COD) Ex: Pizza Delivery Lay-Away: Merchandise
removed from stock Customer leaves a deposit and makes payments
Merchandise received when paid off On Approval: Customer takes
merchandise on store credit Charges Affecting the Sale
Discounts Allowances Sales Tax Shipping Charges Discounts Reduction
in sales prices Calculated before sales tax
Special Sales Coupons Customer Loyalty Discounts Group Discounts
Bulk Sales Discounts Calculating the Discount
$30 item with a 22% discount Multiply price by the discount
percentage $30 x 22% = $6.60 (Total Discount) Subtract the total
discount from the price $30 - $6.60 = $23.40 Allowances Usually
occurs when merchandise is defective
A partial return of the sales price Usually occurs when merchandise
is defective Calculated Like a Discount Sales Tax Sales Tax:A
percentage fee placed by the government on the sale of goods and
services. Sales Taxes are different per state and county Alaska,
New Hampshire, Delaware, & Oregon = 0% Arizona is highest:
11.75% North Carolina = Mecklenburg County = Calculating Sales Tax
$25 x 7.25% = $1.81 $25 + $1.81 = $26.81
Multiply subtotal by the sales tax rate $25 x 7.25% = $1.81 Add
sales tax to the subtotal for sale total $25 + $1.81 = $26.81 Bill
total with tax included
John Smith 7150 E. 24th Street Yuma, AZ 85365 04/08/11 6 38760 3
Shirts $29.95 $89.95 $ *.066 $31.66 2 Belts 36.95 $73.90 2 Pair of
Boots 125.00 $250.00 3 Halters 37.95 $113.85 $ $31.66 $559.26
$527.60 .066% $31.66 $559.26 Shipping Charges Charges for delivery
of a product
Shipping charges are not subject to tax. Shipping Charges are often
paid by the consumer. Shipping charges are calculated based on:
Weight Item Price Geographic Zones Length of time to deliver
Combination of 2 or more Shipping Shipping charges are not subject
to tax.
Shipping Charges are often paid by the consumer. Shipping charges
are calculated based on: Weight Item Price Geographic Zones
Combination of 2 or more How do charges and discounts affect the
price of purchases?
Increase the cost of items Cover credit card charges and frequent
discounts Retailers pass the charges or discount down to the
customer As an additional charge Raise the original price of the
item After the Transaction Returns Exchanges
Merchandise brought back for a cash refund or credit Full payment
returned Exchanges Merchandise returned for something else Even
exchange: occurs when an item is exchanged for the exact same thing
Uneven Exchange: money may be owed or returned Some stores only
offer in-store credit & not cash back Technology in
calculations
Speeds up process No in your head or hand calculations POS (point
of sale) Computer make all of the calculations Less time taken to
double check figures.