Use the Data Given Below to Answer the Following Question(s)

question 4

Multiple Choice

Use the data given below to answer the following question(s) .
Below is a spreadsheet of purchase orders for a computer hardware retailer. $\begin{array}{|l|l|l|l|l|l|l|l|l|} \hline&A&B&C&D&E&F&G&H\\\hline & \text { Purchase } \\1 & \text { Orders } \\\hline2\\\hline 3 & \text { Supplier } & \begin{array}{l}\text { Item } \\\text { Description }\end{array} & \begin{array}{l}\text { Item } \\\text { Cost }\end{array} & \text { Quantity } & \begin{array}{l}\text { Cost per } \\\text { Order }\end{array} & \begin{array}{l}\text { A/P Terms } \\\text { (Months) }\end{array} & \begin{array}{l}\text { Order } \\\text { No. }\end{array} & \begin{array}{l}\text { Order } \\\text { Size }\end{array} \\\hline& \text { Rex } & \text { Graphics }\\ 4 & \text { Technologies } & \text { Card } & \$ 89 & 35 & \$ 3115 & 20 & \text { AL123 } & \text { Large } \\\hline & \text { Rex } & & & & & & &\\5 & \text { Technologies } & \text { Monitor } & \$ 150 & 15 & \$ 2250 & 25 & \text { AL234 } & \text { Small } \\\hline & \text { Rex } & & & & & & &\\6 & \text { Technologies } & \text { Keyboard } & \$ 15 & 40 & \$ 600 & 15 & \text { AL345 } & \text { Large } \\\hline & \text { Rex } & & & & & & &\\ 7 &\text { Technologies}& \text { Speakers }&\$ 15 & 20 & \$ 300 & 25 & \text { AL456 } & \text { Small } \\\hline & \text { Rex } \\8&\text { Wavetech } & \text { HD Cables } & \$ 5 & 10 & \$ 50 & 25 & \text { KO876 } & \text { Small } \\\hline &\text { Max's } & & & & & & &\\9&\text { Wavetech } & \text { Processor } & \$ 278 & 27 & \$ 6950 & 30 & \text { KO765 } & \text { Large } \\\hline& \text { Max's } & & & & & &\\10&\text { Wavetech } & \text { Hard disk } & \$ 120 & 18 & \$ 2160 & 20 & \text { KO654 } & \text { Small }\\\hline 11 & \\\hline 12 & \\\hline\end{array}$
-To find the total order cost, what Excel formula should be used in A12?

• A) =COUNT(C4:C10)
• B) =COUNT(C4:C7)
• C) =MAX(C4:C10)
• D) =SUM(E4:E10)

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Definitions:

Downward-Sloping

A characteristic of demand curves in economics, indicating that demand decreases as the price increases.

FICA Tax

A U.S. federal payroll tax that funds Social Security and Medicare, required to be paid by both employees and employers.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good.

Labor

The human effort, including both physical and mental, used in the production of goods and services.