FS MGMT II - TERMS 4

factors which influence prices

difference between merchandise cost and selling price

i.e. gross margin

a reduction of selling price from original selling price

method used by management to establish the selling price for services and merchandise

add same dollar amount to wholesale cost of item of merchandise

a price determination method wherby the casket cost is multiplied by a constant factor

a pricing method where the markup varies

method by which prices are explained to the consumer

(ex: itemized GPL required by FTC but package pricing allowed)

a method of price quotation which creates one total price package including both service and merchandise (casket)

a method of price quotation showing separately the price of the service to be rendered and the price of the merchandise (casket)

The common two units were "professional services" and "casket"

a method of price quotation in which the charges are broken down into several major component parts, such as professional services, facilities, automobiles, and merchandise.

Basically, the mortuary charged for three or more areas

the method of price quotation by which each and every function or unit of service and/or item of merchandise is priced separately

a pricing method which groups together selected services and/or merchandise

any item of service or merchandise described to a purchaser as a "cash advance," "accommodation," "cash disbursement," or similar term

A cash advance item is also any item obtained from a third party and paid for by the funeral provider on the purchaser's behalf

the number of times sales in a given price bracket occur over a fixed period of time

for a defined period of time, a chart is used to track which units sell and how many of each type

for a given group of numbers (amounts), this is the sum of a group of numbers divided by the actual physical number of units

a value in an ordered set of values which represents the midpoint, whereby there are an equal number of values above and below the midpoint value

the value that occurs most frequently (often) in a given group or array of numbers (amounts)

a division of the total into four segments, each representing one-fourth of the total

the upper and lower limits of a series of numbers

the percentage derived by dividing the wholesale cost of the merchandise by the retail price of the merchandise

the relationship between the wholesale cost of the merchandise and the total cost (both service and merchandise) to the consumer

the return on money is produced by varying the amount expected on each selection

an agreement that payment for a product or service will be made at some later date

a form of credit that is extended by one business to another business to help finance distribution of producer's goods

a type of credit granted by retailers that is used by individuals or families for satisfaction of their own wants

accounts receivable that are uncollectible

balance of costly goods paid for in small monthly equal (fractional) payments over a period of time

a line of credit that may be used over and over again up to a certain borrowing limit