Business Math B - Workbooks

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A magazine has 657,000 subscribers. What is the cost per subscriber of an ad that costs a total of $3,300? Round your answer to the nearest cent.

$0.01

A periodical has 234,600 subscribers. For an ad that costs $5,800, what is the cost per subscriber to the nearest cent?

$0.2

Mostly Kitchens pays $235.80 for a pallet load of paper towels. The pallet holds 36 cases with 12 rolls per case. Mostly Kitchens sells the paper towels for $10.99 a case. What is the markup per roll to the nearest cent? (Hint: Find the markup per case first.)

$0.37

Don's Fishing sells fishing lures for $1.88 after marking them up 380% based on cost. What is the cost of each lure to the nearest cent to Don's Fishing?

$0.39

To the nearest cent, evaluate $44.50 * (4% - 2.25%).

$0.78

Nobel Appliances purchased office furniture for a cost of $16,000. The furniture has an estimated life of 10 years and has an annual depreciation of $1,500. What is the salvage value of the furniture?

$1,000

Harrison Hardware just purchased 3 new cash registers. Each cash register costs $1,800 and has an estimated life of 5 years. The trade-in value of each cash register is expected to be $100 at the end of 5 years. Using the straight-line method, what is the annual depreciation for the 3 cash registers combined?

$1,020

The value of 850,000 shares of CoMark stock is $1,750,000. The underwriting commission is 10%. The total of other selling expenses is $521,464. What are the net proceeds from the sale of the stock?

$1,053,536

Evaluate to the nearest cent $1,093 - (5% of 75)

$1,089.25

What is the approximate revenue when 16 units are sold?

$1,100

Tina Cole is a certified financial adviser. She purchased equipment for her office for $8,843. The trade-in value of the equipment is estimated to be $450 after 7 years of use. Using the straight-line method, what is the annual depreciation to the nearest cent?

$1,199.00

Find 24% of $5,300. Round to the nearest dollar.

$1,272

You have a $45,500 annual gross income. If the state income tax is 1.5% on the first $2,500 and 3% on amounts over $2,500, what is your annual income tax obligation?

$1,327.50

The maturity value of a 6-year, 7.2% ordinary interest commercial loan is $2,076,400. Find the principal.

$1,450,000

Jay's Nursery sells border plants for home gardeners at a discounted price of $12.99. Jay's has 335 plants it must sell. Fixed costs for all these plants were $1,675 and variable costs per plant are $3.65. What is the maximum profit to the nearest cent that Jay's will make if it sells all the plants at the discounted price?

$1,453.90

The Daily News offers a 25% discount on a Monday ad that has already run on Sunday. Green's Grocery contracts for a full page ad to run on a Sunday and a Monday. What is the total cost of the ads?

$1,455

$946.17 + $568.43

$1,514.60

Third National Bank purchased 7 new laptop computers at $1,000 each. The estimated life of each computer is 4 years with a trade-in value of $125 at the end of the 4 years. Using the straight-line method, what is the combined annual depreciation for the computers to the nearest cent?

$1,531.25

An organic cheese company uses the FIFO method of valuing inventory. As of May 31, the company had sold 160 wheels of organic cheese. Use the FIFO method to find the cost of the 160 wheels sold.

$1,550.00

Find and round to the nearest cent. 46% of $3,452.12

$1,587.98

Divide $54,860 by 34, and round to the nearest cent.

$1,613.53

Benz and Jacobs Accounting purchased a new computer system for $3,500. The total resale value after 5 years is estimated to be $525. Using the straight-line method, Benz and Jacobs determined that the computer system would depreciate $595 per year. Use the chart to find the book value at the end of the third year.

$1,715

Ferguson Financial Advisers Inc. (FFAI) allocates 76% of its annual budget to employee compensation. FFAI spends $1,345,000 annually on employee compensation. What is the annual budget of FFAI?

$1,769,736.84

$1,958.96 - $67.25

$1,891.71

The current cost of a box of cereal is $3.39. At the time of this writing, the CPI for cereal is 289.7. What was the cost of a box of cereal in 1983 to the nearest cent?

$1.17

In manufacturing a stuffed bear, Chaney Toys Inc. buys stuffing at $40 for a 180-pound bag and polyester material for the covers at $2.00 a yard. If one stuffed bear requires ½-pound of stuffing and 2 feet of polyester material, what is the direct material cost for manufacturing one toy?

$1.44

Snappy Gifts wants a net profit of $32,400 on its new glitter gift bag. The fixed costs for producing the bag are $184,000 while the variable cost per unit is $1.20. If the estimated unit sales are 395,000 units, what selling price per unit should Snappy try? (Round to the nearest cent.)

$1.75

A can of tennis balls has a 75% markup rate based on cost. Mel's Sporting Goods sells a can of tennis balls for $3.49. What is the cost to the nearest cent?

$1.99

Training International prepares a monthly income statement. For the past month, it collected $15,295 from customers for its services. It had $1,200 in refunds. Operating expenses included salaries and wages of $3,780, supplies for the training computers and printers of $226, and other expenses of $49. What was its net income for the month?

$10,040

Central Clinic recently purchased a new computer system for a total cost of $64,735. The estimated life of the system is 6 years. The trade-in value of the system after 6 years is estimated to be $900. Using the straight-line method, what is the annual depreciation to the nearest cent?

$10,639.17

A pizza store decided to place fliers advertising its new delivery service on people's doors. The pizza store spent $450 to print and distribute the fliers. Within the next month, 45 customers called the store as a result of receiving the flier. What was the cost of the advertising campaign for each customer who called as a result of the ad?

$10.00

Giant Department Stores, Inc. purchased bedroom curtains from The Linen Company for $6.19. The markup was $4.20. What was the selling price to the nearest cent?

$10.39

Green Mountain fitness center plans to offer its clients the services of a private trainer. The trainer works as a subcontractor and charges Green Mountain $65 for each one-hour session. Green Mountain has a policy of charging a markup rate of 55% of the cost of services. What is the minimum amount Green Mountain will charge its clients for each session with the private trainer?

$100.75

The list price for a lawnmower is $420. The net price is $315. What is the trade discount for the lawnmower?

$105

For Frank Music, what are the total assets? (Hint: Add the values of the items in the first column and the second column, excluding the Bank loan.)

$106,867.50

Martina's Electronics offers trade discounts and additional discounts to encourage large orders. What is the net price for a television if the total invoice is over $500?

$107.56

What is the net income? (This is line (d) on the income statement.)

$11,387

Finestein Physics is sending 5 of its top physicists to a 5-day conference on the latest developments. The junior scientist earns $410 daily, two of the physicists earn $444 daily, and the two senior scientists earn $500 daily. What will the release time cost Finestein Physics for the five physicists?

$11,490

Luisa's Pet Store pays $7.63 for a case of gourmet cat food. The store's customers pay $19.49 per case for the cat food. What is the markup on a case of gourmet cat food?

$11.86

A store owner wants a markup of 34% on the selling price of goods. If the selling price is $1.50 for each cookie, what is the most the store owner should pay per dozen cookies?

$11.88

Lightbulbs Etc. uses the FIFO method to find the cost of goods sold and the value of the ending inventory. This is a record of the units received in the month of June. On June 30, they sold 128 energy-saving bulbs. What was the value of the remaining inventory?

$112.86

James Hardware sells door lock sets for $74.99, including installation. The company hires subcontractors to install the lock sets. The subcontractors receive $22.00 per lock set installed. Other overhead costs total $7.56 per set. If James Hardware pays $32.55 for each lock set, what is the company's net profit?

$12.88

The Home Remodeling Company borrowed $125,000 from Dodge Bank & Trust to pay for materials and labor for a new warehouse. Corner Bank lent the money at 2.0% above the prime rate of 5.25%. The loan is ordinary interest for 90 days. What is the maturity value of the loan?

$127,265.63

Paperback Paupers marks up paperback books 35% of the selling price. A Paperback book costs Paupers $8.52. What is the selling price?

$13.11

Find the maturity value of a $130,000 loan borrowed at 2% over prime with ordinary interest for 90 days. The prime rate is 5.0%.

$132,275

Lucy's Spa and Salon Services Company estimates that it costs $38,000 annually to carry their inventory of supplies. The cost consists of 10% for storage and handling; 15% for interest; and 3% for taxes and insurance. What is the value of the company's inventory?

$135,714.29

Sandy Elks Incorporated sold 3,000 shares of its stock at $50.10 per share. The broker charged $3.50 per share for her underwriting commission. How much money did Sandy Elks make on the sale of 3,000 shares?

$139,800

To make a profit, Yvonne knows that her prime cost of producing a hand-knit sweater must be no more than $24.00. The wholesale yarn and knitting needles to make two sweaters cost $20.00. What can Yvonne afford to spend on direct labor costs?

$14.00 per sweater

Refer to the Social Security and Medicare Tax Rates. To the nearest cent, how much Social Security tax would have been taken out in 1962 on an employee's wages of $450?

$14.06

Trainer's Pet Store offers a wide variety of leashes for dogs. The store purchases a popular leash from its manufacturer for $4.38 each. Trainer's Pets marks up the leashes at a rate of 238% of cost. What is the retail price of the popular leash?

$14.80

Samantha's Green Clothing has hired Margie Taylor, a manager from out of state. The clothing chain has agreed to pay a real estate broker 4% of the sale price of Margie's home. The home sold for $375,000. How much will Samantha's Green Clothing pay the real estate broker?

$15,000

This is an incomplete income statement for Boston Computer Company. What is the net income?

$15,376.99

Jananda Roti owns a flower shop and marks items up at least 35% on the selling price. What is the most Jananda can pay for a dozen roses, if she sells each rose for $2.00?

$15.60

At the break-even point, what are the revenues? (Read the nearest grid line on the y-axis.)

$157,483

Saunder's Supply has a gross income of $145,000 and total deductions of $63,000. Find the federal corporate income tax.

$16,130

A manufacturer of woolen throw rugs pays an average of $15.00 for the wool and bindings to make each rug. The direct labor charge for weavers is $10.25 an hour. Each weaver can produce 4 rugs an hour. To the nearest cent, what is the prime cost of manufacturing a rug?

$17.56

Winter coats are on sale starting April 1st. A leather coat is on sale for 40% off the regular selling price of $425.99. What is the markdown to the nearest cent?

$170.40

Big Box Electronics sells a television set and DVD player unit for $545.45. Its cost on the unit is $372.72. What is the markup?

$172.73

Total sales of the Desert Markets were $10,150,000 two years ago and $14,250,000 last year. If the same trend continues, what are sales likely to be this year to the nearest thousand dollars? (Hint: First find the percent increase.)

$18,350,000

After Frances George's semi-annual performance review, she received a merit increase of 4.75% and a COLA of 3.25%. She now earns $20.01 an hour. What was her hourly wage, to the nearest cent, before the merit and COLA increases? Express your answer in dollars and cents.

$18.53

The list price of a stove is $278. The chain discount is 20/15. What is the final net price?

$189.04

At the end of the month, 49 packages of windshield wipers were on hand. Find the average cost per package of windshield wipers, rounded to the nearest cent.

$19.52

Find and round to the nearest cent $76.80 ÷ 40%

$192.00

Bettina Soto is a regional sales representative for a pharmaceuticals company. This month her travel expenses include $884.03 for car rental and gasoline, and $219.40 for meals. Her hotel bills include two nights at the Resort Hotels for $175 per night, one night at the Suites for $85.90, and four nights at the East Inn for $119.90 per night. What are Bettina's total travel expenses for the month?

$2,018.93

What is the average of these four dollar amounts to the nearest cent? $400 $323.69 $7,352 $19.99

$2,023.92

The base rate for workers' compensation insurance for a motorcycle repair shop is $7.32 per $100 paid to employees. The total monthly payroll for the shop is $32,400. What is the monthly premium for the workers' compensation insurance?

$2,371.68

The Finest Hour department store wants to run a special ad this week in The Country Times. It wants to run a half-page ad on Friday, and a full-page ad on Saturday and Sunday. How much will it cost the Finest Hour for the ads?

$2,540

Kalila Winston worked for a software company for 26 years. She became permanently disabled and could no longer keep her job. She was 52 years old and had planned to work until she was 62. Her final annual salary was $43,000. Her rate of benefits is 2%. What is Kalila's monthly disability benefit to the nearest dollar?

$2,580

$16,596.80 - $13,743.34

$2,853.46

Wong's Garage buys quarts of motor oil by the gross (144 units) for $0.75 per quart. When Wong's changes the oil in customers' cars, it marks up the oil 175% of the cost. What is the selling price of a quart of oil used in a standard oil change?

$2.06

Framingham Company wants to finance its expansion by selling 200,000 shares of stock at $35.20 each. The underwriting commission will be 5.5 percent of the value of the stock. Accounting, legal, and printing fees are $142,985. Find the cost per share of the total expenses.

$2.65

Universal Waste Disposal sold 1,350,000 shares of stock at $24.62 per share. The investment banker's commission was 5% of the value of the stock. Accounting fees were $450,000, legal fees were $1,225,000, printing costs were $275,000, and other selling expenses were estimated to be $300,000. To the nearest cent, what was the selling expense per share?

$2.90

PRP Technologies has an inventory of computer monitors. On March 31st, the last day of the month, PRP had 165 flat panel monitors in stock. What is the value of the ending inventory for March using the average-cost valuation method? Round up to the nearest dollar.

$20,266

The Country Times offers a 20% discount on a Saturday ad that also runs on Sunday. The local department store contracts for a ¼ page ad to run every Saturday and Sunday for the remainder of the year (16 weeks). How much will the department store pay for the ads?

$20,640

ATCE Learning Center wants to make a net profit of $650,000 on the manual it sells to schools. The fixed costs for producing the manual are $780,000 and the variable cost per package is $19.85. If the estimated unit sales are 1,250,000 units, what selling price per unit should ATCE try?

$20.99

Dorie Sparrow works at The Clothes Horse, Inc. The sidewalk sale is over. She takes in the clothes and must mark the dresses back to their original selling price. She had marked them down 70% for the sidewalk sale. What price should Dorie put on a dress that had been marked down $140?

$200

The County Mental Health Center is looking for a Facility Director. It has budgeted $20,000 for recruiting costs. The Center spent $5,300 on advertising and $3,500 on interviewing. The Center is willing to pay 5.5% commission on selling the new director's home. What is the maximum selling price the Center would pay 5.5% commission on to stay within budget?

$203,636.36

The Kitchen Kompany operates on a 145% markup rate based on the cost. The markup on the store's new line of cabinets is $300 per cabinet. Find the cost of one cabinet.

$206.90

Cory Yip is a customer service agent, Level 1, for Marcom & Associates. He received a 2.5% cost-of-living adjustment and a merit increase of 4%. What is Cory's new salary?

$21,300

What is the gross profit on sales? (This is line (b) on the income statement.)

$21,594

Lansing Bookery regularly marks up books 40% of the selling price. The bookstore's cost on a new best-selling book is $12.95 per book. What is the selling price of this book?

$21.58

Refer to the Social Security and Medicare Tax Rates. How much money would an employer have to withhold from an employee's wages of $1,500 for Medicare?

$21.75

Appliances & Wares is valuing its inventory of toasters. On May 31st, Appliances & Wares had 23 toasters on hand. What is the average cost per toaster? Round to the nearest cent.

$22.15

Gaitan Lee sells imported cabinets for $489.50 each. What is the highest price Gaitan can pay for the cabinets and make a markup of 55% of the selling price?

$220.28

LTS Company estimates it has a 17% share of the market for office desk lamps in the metropolitan area. Estimated sales for desk lamps for the market for the coming year are $1,320,000. What is LTS Company's projected sales?

$224,400

Red Hardware had inventory valued at $380,000. The store estimates the annual cost of carrying its inventory at 25% of the inventory's value. With on-time shipping, Red Hardware reduced its inventory to three-fourths of its original value and still met customers' orders. How much did the store save on the total cost of carrying its inventory?

$23,750.00

Find and round to the nearest cent $101.88 ÷ 44%

$231.55

Find the possible net profit for the estimated unit sales.

$232,000

Refer to Table 3-5 on page 3-10 of the Department of Labor's 2010 publication on monetary entitlement: Monetary Entitlement. This table shows that Arizona's minimum weekly unemployment payment was $60. What was the maximum weekly payment in Arizona?

$240

Veronica Foaley sells evening jackets sewn with metallic threads and beads. She wants to set a price of $600 for a jacket. The markup she wants is 60% of the selling price. What is the most she can pay for the jacket?

$240

$115,977.11 + $46,100.43 + $79,543.03

$241,620.57

Karl Schwartz has total travel expenses of $643. His transportation cost is $290, the lodging cost is $198, and additional costs are $80. If dinner costs twice as much as lunch, how much is his lunch?

$25

Third Federal Bank is in a national search for a new Director of Human Resources. The recruiting budget is $30,000. So far, the bank has spent $8,600 on advertising and $7,650 on interviewing. The bank is willing to pay a 5.5% commission to a broker for selling the new director's home. What is the maximum selling price on which the bank would pay 5.5% commission and stay within its budget? Express your answer in dollars and cents.

$250,000.00

(26% of $928.45) + $15.00

$256.40

Find the total net profit for the estimated sales (value c in the table). Hint: Find the values for a or b first. Depending on how you calculate the profit, you will need one or the other. Round your answer to the nearest thousand dollars. Type your answer as a dollar amount, like this: $14,000

$258,000

Find the possible total net profit for sales (value c). Hint: Find the values for a or b first. Depending on how you calculate the profit, you will need one or the other.

$264,000

Lightbulbs Etc. uses the FIFO method to find the cost of goods sold and the value of the ending inventory. The table records the number of units received in the month of June. On June 30th, they sold 128 energy-saving bulbs. What was the cost of goods sold?

$265.85

Angel Carlos is a hair stylist at Expressions Styling Center. Determine his net pay for the week when his gross pay was $336. Medicare is 1.45% of gross, Social Security is 6.2% of gross, city tax is 1.5% of gross, and federal income tax is $36.

$269.26

What is the net price of a vacuum cleaner originally priced at $185, when the discounts are 25/80?

$27.75

Refer to the Social Security and Medicare Tax Rates. How much Social Security tax would be taken out today on wages of $450?

$27.90

A bicycle store imports merchandise from Europe. The store owner knows she can sell a certain multigear mountain bicycle for $600. The markup she wants is 55% of the selling price. How much can she pay for the bicycle?

$270

Gold Co. sells gold bracelets at a markup of 325% based on cost. The markup on one bracelet is $213.00. Find the selling price. (Hint: First find the cost.)

$278.54

A weekly newspaper charges $72 for each inch in length and one column width. What is the cost of an ad that runs 2 column inches long and 2 columns wide?

$288

$29,325,150

For its back to school sale, Fra Diavolo's Books marked down its entire stock of novels 60% for the weekend. Each book costs $11.99 during this time. What will the price return to on Monday morning?

$29.98

NLX Inc. uses the LIFO method of valuing inventory. As of October 31, they had sold 200 shredders and had 95 shredders in their inventory. Find the value of the ending inventory.

$3,030.50

Akil Baker manages operations for three divisions within his company, requiring that he travel to three different cities every month. This month his expenses include $2,309.75 for transportation, $239.65 for meals, and $650.00 for lodging. What are his total travel expenses for the month?

$3,199.40

Kwikset Enterprises sold 300 shares of stock at $12.34 per share. The underwriting commission was 5.8%. To the nearest cent, how much did Kwikset Enterprises make on its sale of stock, after subtracting the underwriting commission?

$3,487.28

Last month Zine's Watch kiosk at the mall had total sales of $9,489. Merchandise totaling $225 was returned. The goods that were sold cost Zine's $5,481. Operating expenses for the month were $992. What was the gross profit on sales?

$3,783

Future Sporting Goods has a market-share factor of 25% of the retail business in Martin County. The total estimated sporting goods business in the county for next year is $15,430,000. What sales can the sporting goods company forecast for itself for next year?

$3,857,500

Marcelle's fixed cost of producing 50,000 board games is $100,200. The average variable cost is $1.44 per game. What is the average cost per game?

$3.44

If the net price of a 14-carat gold ring is $200 and the list price is $500, what is the trade discount?

$300

ABE Software creates customized software that sells for $3,816,981.10 total. ABE Software's cost is $1,723,000.00 and overhead expenses are estimated at 47% of the selling price. What is ABE Software's net profit to the nearest dollar?

$300,000

Jamison Foundry wants to stick to its recruiting budget for the position of Manager of Operations to $80,000 or less. So far, the company has spent $9,500 on advertising and $52,310 on interviewing. The company will pay 6% commission on selling the new manager's home. What is the maximum selling price of a house that the Foundry would pay 6% commission on and stay within its budget?

$303,166.67

The net price of goods from Southern Flooring to Jerry's Carpet Outlet is $34,500. The terms are 8/10 EOM. The date of the invoice is October 5th. If the invoice is paid on October 15, what is the cash price?

$31,740

The regular selling price of a pair of jeans is $39.99. The markdown rate is 20%. What is the sale price of the jeans to the nearest cent?

$31.99

Joe's Junkyard sold 122 pieces of desk art from recycled materials at $7.50 each in its test market last year. It has 35 additional markets of similar size. Forecast its dollar sales for the first year.

$32,940

The high school chess club sold tee-shirts for fund raising at $10 per shirt. They owed 20% of their proceeds to the referee. On Monday they sold 17 shirts, on Tuesday they sold 13 shirts, and on Wednesday they sold 10 shirts. How much money did the club keep?

$320

Jerome Jones delivers pizza for Papa's Pizza. He earns $7.80 an hour plus time-and-a-half for every hour over 40. Last week he worked 45 hours. Deductions included Social Security at 6.2% of gross, Medicare at 1.45% of gross, and federal income tax of $14. What was Jones' net pay, rounded to the nearest cent?

$328.16

A wholesaler wants to sell a toaster-oven to retailers for $44 and earn a markup of 25% on the selling price. What is the most the wholesaler can pay a manufacturer and get the desired markup? (Hint: Find the cost the wholesaler can pay.)

$33.00

The Gourmet Wholesale Company purchases 3.5 pound-ducks directly from the farmer for $10.80 each. The ducks are marked up 210% of cost and sold to grocers. What is the selling price?

$33.48

A pair of earrings has a 130% markup rate based on cost. The selling price is $77.77. What is the cost to the nearest cent?

$33.81

Narwhal Glass repairs and replaces automotive windshields. The company buys windshields for some models of passenger cars from the manufacturer for $143.17. Narwhal Glass then marks up the windshields 135% of cost. What is selling price of the windshields?

$336.45

Import Auto Company held a 4-day training program for 20 employees. All employees were paid their regular wages for the time they were released from their regular work. These wages totaled $5,897.64 for the group. Refreshments and lunch were served at a cost of $45.50 per person each day. The instructor who conducted the training charged $500.00 per day. Supplies and equipment for the program totaled $8.00 per person. Travel expenses for the group totaled $22,457.63. What was the total cost for the seminar to the nearest cent?

$34,155.27

After working at a company for 15 years, Kelly Cochrel became permanently disabled and could no longer work. She was 47 years old, and was planning to retire at the age of 65. Her final average salary was $69,500 per year. Her rate of benefits is 1.5%. What is her annual disability benefit?

$34,402.50

The net price of goods from Southern Flooring to Jerry's Carpet Outlet is $34,500. The terms are 8/10 EOM. The date of the invoice is October 5th. If the invoice is paid on December 1, what is the cash price? (Hint: First calculate the last date for a discount.)

$34,500

A company has $25,000 in cash, $74,800 in merchandise, and $65,000 owed to the bank. What is the company's owner's equity?

$34,800

A 30-second TV ad costs $12,300 to run during a popular sports show on Sundays. Sandcastle Sports plans to purchase one 30-second ad on this show for the next three weeks. What is Sandcastle's total cost for these ads?

$36,900

Emily Penn sells for Maumere Electronics. She is paid a base salary of $300 and 7% of all sales. One week she had sales of $7,280. If Emily's rate of commission is increased to 7.5%, but her base remains the same, how much more will she earn in a week in which she had sales of $7,280?

$36.40

Brian Gray Foods sold 1,200 shares of company stock and paid a broker $0.03 per share underwriting commission. The total proceeds before paying commission were $45,876.00. To the nearest cent, how much money did Brian Gray Foods raise per share of stock? (Hint: Subtract commission from the proceeds.)

$38.20

Margaret Segal's company released her from her regular work to attend a four-hour seminar. Her release time for the day cost the company $209. The seminar instruction was $165, and she spent $12 on supplies. What was the total training cost?

$386

The list price of a Finch Electric iron is $62. The company is offering a chain discount of 30% less 10%. What is the final net price of the iron?

$39.06

Apple Linens Warehouse carries a $1,239,500 inventory. Apple Linens estimates the annual cost of carrying the inventory at 32% of the inventory value. What is the approximate annual cost of carrying the inventory?

$396,640

Round to the nearest cent: (54% of $681.43) + $29.03

$397.00

$1,345.67 + $2,768.35

$4,114.02

The GDP is $4,600,000. The inflation rate is 8.2%. Find the real GDP.

$4,222,800

A local sporting goods store will advertise baseball equipment during evening news broadcasts. Advertising rates during news broadcasts run $3,400 per 30-second spot on weekdays. The store is planning 12 weekday spots of 30 seconds each. What is the total campaign cost?

$40,800

Records in this table for Big-Big Foods show the opening balance and the receipts for packages of hot dog buns in November. At the end of the month, 31 packages of buns were on hand. What is the value of the ending inventory using the average-cost method? Round to the nearest cent.

$40.61

On a large construction project, the price of dry wall is $.40 per square foot and spraying the dry wall with textured plaster is $.45 per square yard. How much must the builder pay for sprayed dry wall that is 100 square yards?

$405.00

Lastima Nelson, Inc. is recruiting a new Chief Financial Officer (CFO). The recruiting budget is $44,000. Lastima has spent $10,000 on advertising and $8,500 on interviewing. The company is willing to pay 6% commission to a broker for selling the new CFO's home. What is the maximum selling price on which the company would pay 6% commission and stay within its budget?

$425,000.00

Traditional Hats sold 322 decorated caps at $25 each in its test market last year. It has 52 additional markets of similar size. Forecast its dollar sales for the first year.

$426,650

Ramesh Moan earns 7.5% of his sales. Last week his sales totaled $580,000. What was his commission to the nearest dollar?

$43,500

The North Company negotiated a $35 million loan to remodel a mall. The company borrowed the money at 0.8% ordinary interest over prime for five years. If the prime rate was 4.3%, what is the maturity value of the loan to the nearest cent?

$43,925,000

Find and round to the nearest cent $32.50 ÷ 75%

$43.33

A pair of earrings has a 130% markup rate based on cost. The selling price is $77.77. What is the markup to the nearest cent? (Hint: Find cost first.)

$43.96

An electronics store buys digital cameras from the manufacturer at $193.55. It marks them up 125% of the cost. What is the selling price you will find when you visit the store?

$435.49

Jackson Banks is a shift manager, Level 3, for Marcom & Associates. He received a 3% cost-of-living adjustment and a merit increase of 10%. What is Jackson's new salary?

$44,070

Heloise Quail sold items cheaply at a yard sale. She sold her dining set for $85, which was 19% of the original price. To the nearest dollar, for how much did she buy the set?

$447

A year ago, when Delmar Harris started his job as an accounting clerk at Wright Way Enterprises, his salary was $38,500. This week he received a cost-of-living adjustment of 2.4% and a merit increase of 15.0%. How will Delmar's annual salary be next year? Round to the nearest dollar.

$45,199

Feng-Lin Fong had worked at the University Medical Center for 20 years when she became permanently disabled. She could not continue to work. Fong was 55 years old and had planned to retire at age 65. Her final average annual salary was $76,908. Her employer's rate of benefits is 2%. What is her annual disability benefit?

$46,144.80

Instant Photo Company had a gross income of $1,845,673 for the year. The table shows its business expenses during the year. What is Instant Photo's taxable income?

$483,769

All American Music has a market share of 8.5%. Next year's estimated sales for the entire market are $5,800,000. What is All American Music's sales projection for next year?

$493,000

Jalinda sells scarves at $3.50 each. Last month she sold 1,450 scarves. What was last month's revenue?

$5,075.00

Sales of a granola bar increased an average of 15% per year over the past six years. This year's sales of granola bars were $4,500,000. Based on this trend, what might the sales be next year? (Hint: Add the forecast of sales increase to current sales.)

$5,175,000

Refer to Table 3-5 on page 3-10 of the Department of Labor's publication on monetary entitlement: Monetary Entitlement. In 2010, how much money did a worker have to make to qualify for Arizona's maximum weekly unemployment payment?

$5,988

Drake Inc. earned $350,000 commission for selling 1.2 million shares of Enterprise International stock. The commission was 5.5% of the value of the stock. How much was each share of stock? (Hint: First find the value of the stock.)

$5.30

The Japanese Yen is the currency in Japan. Its symbol is ¥. If 100¥ equals $1.24, how many dollars does 450¥ equal?

$5.58

Farci Jones purchased 148 donuts at $.10 per donut for an office party. The office manager was able to reimburse Farci 60% of what he spent. How much was Farci's out-of-pocket expense?

$5.92

Maldo Geronimo conducts two-day training sessions for an oxygen equipment company. When he traveled last month, his lodging was $235 per night for two nights and breakfast and lunch were $46 per day. His total transportation expenses were $535. He has a budget of $1,200. What is the maximum he can spend on dinner each of the two nights? Express your answer in dollars and cents.

$51.50

An invoice dated March 28 has terms of 3/10 EOM. The net price is $540.10. The invoice is paid April 8. Find the cash price using the complement method.

$523.90

$525

$530,185

Find 42% of $1,267 to the nearest cent.

$532.14

Hubert Crumny is interested in a color television marked down 40%. Its sale price is $329.00. What was the television's regular selling price?

$548.33

The GDP is $59,785,000. The inflation rate is 5.4%. Find the real GDP.

$56,556,610

Cassie Marino is interested in purchasing a new laptop computer for school. It is marked down 20% from its original price. She can save $112.00 by buying the marked down computer. How much was its original price?

$560

Refer to the table in the Social Security Administration's Retirement Planner. If someone born in 1960 wanted to retire at age 62, a monthly benefit of $800 would be reduced to ______ .

$560

Georgia Fineman is traveling to a show on green building for two days. Her lodging is $380 per night for two nights, with breakfast and lunch included. Her airfare was $320 and taxi costs to and from the airport totaled $55. She had a budget of $1,250. What is the maximum she can spend on dinner each night?

$57.50

The value of John's antique car is 580% of what it was when he bought it. If he initially invested $10,000, what is the present value of the car?

$58,000

Nobel Appliances purchased office furniture for a cost of $16,000. The furniture has an estimated life of 10 years and has an annual depreciation of $1,500. What is the accumulated depreciation at the end of the fourth year?

$6,000

Find 34% of $18,250. Round to the nearest dollar.

$6,205

The cost of a 20-second afternoon ad on a local radio station is $320 per ad, per day. What will be the ad's total cost if it runs twice a day for 10 weekdays?

$6,400

The Triangular Grill has a gross income of $136,896 and deductions of $92,379. What is the federal corporate income tax?

$6,678

The cost in 1983 of a hand towel was $4.25. The CPI for hand towels is 150. What is the current cost of the hand towel?

$6.38

To the nearest cent, evaluate $73.50 * (7.5% + 1.25%).

$6.43

Drake Inc. earned a $375,000 commission for selling 1 million shares of Cornerstone Company stock. The commission was 5.75% of the value of the stock. What was the price of a share of the Cornerstone Company stock?

$6.52

Toni's fixed cost of making 150,000 toasters is $89,700. The average variable cost is $6.24 per toaster. What is the total cost per toaster to the nearest cent?

$6.84

Orlo Jackman heard an ad on the radio for a weekend cruise to the Bahamas, available for $150 off the regular price this week only. This discount reflected a 25% markdown. What is the regular price of the cruise?

$600

The Musical Instrument Store estimates costs of $18,750.00 annually to carry inventory of musical instruments and accessories. The costs include 12% for storage, 12% for interest, and 5% for transportation. What is the value of the inventory to the nearest cent?

$64,655.17

Ruth Mason received a 4.3% merit increase and a 3.25% cost-of-living increase after her quarterly review. Her new weekly salary was $688.32. What was her weekly salary prior to the increases? (Enter the amount in dollars and cents.)

$640.00

Suppose Tom's Tunes Inc. has assets of $18,254.00 in cash, $67,099.00 in merchandise, and $15,334.00 in supplies. Liabilities are $35,000.00 owed to the bank and $568.50 owed in taxes. Find the owner's equity.

$65,118.50

Gold Co. sells gold bracelets at a markup of 325% based on cost. The markup on one bracelet is $213.00. Find the cost to Gold Co.

$65.54

Austin Family Furniture purchases recliners directly from the manufacturer for $235.00 each. The recliners are marked up 185% of cost and sold to customers. What is the selling price in dollars and cents?

$669.75

A company held a one-day training seminar and invited 4 employees to attend. The employees were paid their regular wages of $70 per person. Lunch was provided at a total cost of $89. The seminar instructor's fee was $200. Supplies and equipment for the program were $27 per person. What was the total cost of the seminar?

$677

What is the cost at the break-even point? (Read the nearest grid line on the y-axis.)

$679

Rangue Pharmacy Inc. has an annual gross income of $316,468. Deductions total $98,371. What is the federal corporate income tax?

$68,308

Veronica's Dress Shop marks down a pair of shoes 15% when the customer purchases the shoes with a dress or pantsuit. The sale price of the shoes was $59.00. How much would the shoes cost if purchased alone?

$69.41

Stallone's Sub Shop purchased a delivery van for $24,000. Suppose that MACRS allows delivery vans to be depreciated fully in 6 years according to six fixed percents: 20% the first year, 32% the second year, 19.2% the third year, 11.52% the fourth and fifth years, and 5.76% the sixth year. What is the annual depreciation for the second year?

$7,680

Evaluate (1 - 0.40) * $12.00

$7.20

When the school orchestra discovered they still had to raise $48, they decided to conduct a cookie dough sale. They bought cookie dough from the Local Dough Company and sold it at $14 for each bucket of dough. They made four times the amount they needed by selling 30 buckets of dough. How much did the orchestra pay the Local Dough Company for each bucket?

$7.60

The catalog price of an item is $875. The trade-discount rate is 20%. What is the net price?

$700

Top Kitchens handles 17% of all the kitchen production in the area for new construction. It is estimated that the cost of kitchens is 14% of the total cost of constructing a new house. New home construction in the area for the next year is estimated to total $32 million. What sales volume can Top Kitchens expect next year?

$761,600

An etched glass tabletop carries a catalog price of $129.75. The Tabletop Company offers a 40% trade-discount rate. What is the net price to the nearest cent?

$77.85

The accounting department at Nagata Glass reimbursed Abba Jay for traveling to two sales presentations in New Orleans this month. He drove a total of 610 miles to and from the city. The company will pay him $0.32 per mile. His other travel expenses included $6.50 in tolls, and $260.40 per night for two nights in a hotel. The costs of his meals are listed in the table. What were his total expenses for the two trips?

$779.43

Copies On Demand recently purchased 5 new copiers at a total cost of $45,000. The salvage value of the copiers is expected to be $700 each after 5 years of use. Using the straight-line method, what is the total annual depreciation Copies on Demand can claim for the copiers?

$8,300

Three nurses attended a seminar for two days. The travel expenses for each nurse were $982. Additional expenses per nurse per day are listed. Find the total training costs. Release time: $320 Instruction: $85 Meal Expense: $100 Supplies: $425

$8,526

Find the total recruiting cost, given the following expenses. Express your answer in whole dollars. Advertising expenses: $1,456 Interviewing expenses: $1,290 for the first candidate and $1,390 for the second candidate Moving expenses: $4,500 for the person hired

$8,636

MACRS depreciates automobiles in 6 years using these percents: 20% the first year; 32% the second year; 19.2% the third year; 11.52% the fourth and fifth years; and 5.76% the sixth year. For an automobile that cost $30,000, what is the book value at the end of the third year? (Hint: To start, calculate the annual and accumulated depreciation for the first three years.)

$8,640

This graph shows the supply and demand relationships for a toy. Quantities are per week. What might be the toy's best selling price?

$8.50

The maturity value of a 180-day, 8.75% ordinary interest commercial loan is $83,500. Find the principal.

$80,000

Nermal Kumar is a senior manager for Timber Eye Industries in California. After his annual performance review, he received a merit raise of 7.25% and a cost-of-living increase of 2.2%. His annual salary after the increases was $87,609.50. What was Nermal's annual salary before the two increases took effect?

$80,045.23

Divide $16,835 by 210, and round to the nearest cent.

$80.17

ZG Jewelers purchased fashion bracelets for $38.87. This jewelry store regularly marks up fashion merchandise 52% of the selling price. What is the minimum selling price that ZG Jewelers should charge?

$80.98

Pricey Ice Cream has 4 stores that do 8% of the business in the county. It is estimated that next year total ice cream sales in the county will be $8,416,000. Pricey Ice Cream is adding a fifth store and expects to increase its market share by 25%. To the nearest dollar, how much can Pricey Ice Cream expect to sell next year? (Hint: First find 25% of the original market share of 8% and add that to the original market share. This is the new market share. Use the new market share to find the dollar amount of projected sales.)

$841,600

The Dinner Shoppe spends $23,850 monthly on supplies. If supplies represent 33 1/3% of total expenses, what are the annual total expenses to the nearest dollar?

$858,600

Find and round to the nearest cent. 35% of $246.55

$86.29

Central Drug Stores estimates the cost of carrying the inventory of goods to be 18% of the value of the merchandise. About how much does it cost Central Drug Stores annually to carry a $481,560 inventory?

$86.680.80

Advantage Housekeeping Service prepares a monthly income statement. For the past month, it collected $3,150 from customers for its services. It had $70 in allowances for jobs that had to be redone. Operating expenses included salaries and wages of $1,800, supplies of $315, and other expenses of $94. What was its net income for the month?

$871

The terms are 4/10, n/30. The net price is $919.60. What is the cash price using the complement method?

$882.82

$984,088 - $98,967.52

$885,120.48

Sandista Holiday is the owner of a heavy duty truck and bus repair shop. She pays the base rate of $7.30 per $100 paid in wages for workers' compensation insurance. The payroll for November is $129,540. What is that month's premium for workers' compensation insurance to the nearest cent?

$9,456.42

Last month, Sunglass Kiosk had total sales of $9,720. Merchandise totaling $110 was returned. The goods that were sold cost Sunglass Kiosk $4,864. Operating expenses for the month were $1,180. What are the net sales Sunglasss Kiosk will put on its income statement?

$9,610

This graph shows the supply and demand relationships for a toy. Quantities are per week. What is the approximate price that a new toy could command, when demand is for about 125 items a week? (L17, Presentation Supply & Demand)

$9.00

Johnson Canniver has a repair shop. He bought a used lawn mower for $35.00 from a customer. He spent $39.17 on parts to repair the mower. He also painted and polished the mower at a cost of $36.43. He was able to sell the refurbished lawn mower for $155.00. If it took 4.5 hours to do all the work, how much did he earn per hour to the nearest cent? (Hint: Find the markup on the lawn mower first.)

$9.87

Refer to the Social Security and Medicare Tax Rates. How much tax would an employer take out to cover both Medicare and Social Security today, if an employee makes wages of $1,200?

$91.80

Divide $69,758 by 76, and round to the nearest cent.

$917.87

Kranski's Island is an amusement park. The park is planning a TV ad campaign. It will run 30-second ads for the next 20 days on a daytime show. The park will also run 30-second ads for the next 5 days during a prime-time show. A 30-second daytime ad costs $6,200. A 30-second prime-time ad costs $165,000. What is the total ad campaign cost?

$949,000

Which of the following are forms of recruiting? (Select all that apply.)

- Asking qualified people to work for a company - Finding and attractnig qualified players to a ball team - Enlisting qualified soldiers in the military

Which of the following are important skills that contribute to financial literacy? (Select all that apply.)

- The ability to (Analyze, Read & Manage) personal financial conditions

Evaluate A, when x = 0. (Use mental math.) A = -4+3x^2 / 5/5.2

-2

Compute the percent change in inventory if the inventory last month was $24,560.

-2.3%

Divide 571.85 by 1,500. Round to the nearest thousandth.

0.381

Find the value of X, if X: 5 = 33:165

Jack and Jill are planning to meet at a restaurant after work. The restaurant is 10 miles from where they work. Jack leaves early and travels at 50 mph. He arrives in 12 minutes. Jill likes to drive at a steady 45 mph. How much longer does Jill take to arrive at the restaurant than Jack?

1 1/3 minutes

Match. 1) Cost 2) Selling Price 3) Gross Profit 4) Net Profit 5) Markup

1) The amount a retailer pays for an item, including freight charges, operating costs and energy costs 2) The price that a retailer sells an item, usually the wholesale price plus a markup, also known as retail price 3) A synonym for markup 4) The amount of money left after expenses have been subtracted from gross profits; also called net income 5) The difference between the cost of a product and the selling price when the selling price is higher; also known as gross profit

This company will begin to make a profit after producing more than ______ units.

1,750

These are the expense records of Fishers' Commercial Bakery for the second quarter of the year. What percent of total expenses did Fishers' Commercial Bakery spend on insurance during the quarter?

1.59%

A triangle has an area of 20 cm^2. If its base is 40% of its height, what is its height to the nearest tenth of a centimeter?

Suppose A = 8, B = 23 and C = 3. What is [2(B - A)] ÷ C?

Suppose the area of a circle is 100 π square inches. Which of the following represents the radius of the circle?

10 inches

Damon's Shoes did a time study of Walter Holmes' job as the shipping and receiving clerk. Walter's average time to affix postage was _______ seconds. (Enter only the number to the nearest tenth of a second.)

10.3

Josephson Medical Supply sold 25,312 units of a new thermometer last year. This year the supply company expects sales to increase to 400% of last year's sales. What are the projected sales for this year?

101,248

Mike Albers works during the summer at his uncle's produce stand. Tomatoes are priced at $1.99 per pound. Mike's uncle estimates that his total cost in producing and transporting the tomatoes is about $0.95 per pound. What is the markup rate based on cost for the tomatoes?

109.5%

Georgia Preserves is test marketing a new peach-orange marmalade. The following responses were collected from 500 people who were offered samples of the new product at a shopping mall. The marketing department of Georgia Preserves predicted that 300 people would indicate that they would be likely to buy the product between the present time and next year. Determine the absolute error. "I love it! Where can I buy it today?" = 127 responses "I'll probably try it over the next year, sometime." = 162 responses "I'll probably try it, but only if I have a discount coupon." = 153 responses "I don't like this marmalade." = 58 responses

A food court at a mall had 750 teenagers test Tasty, a new fruit snack. Of these teenagers, 267 said they would buy Tasty if it was sold at the mall. Gooey Candy Company, the manufacturer of Tasty, estimates that 32,000,000 teenagers regularly go to malls. They also estimate that teenagers would buy Tasty once a week. What is the weekly sales potential?

11,392,000 teens

Manny took six math tests. What is the difference to the nearest tenth, between his lowest score and the mean score? 78, 92, 89, 88, 93, and 98

11.7

Georgia Preserves is test marketing a new peach-orange marmalade. The following responses were collected from 500 people who were offered samples of the new product at a shopping mall. What percent do not like the product? "I love it! Where can I buy it today?" = 127 responses "I'll probably try it over the next year, sometime." = 162 responses "I'll probably try it, but only if I have a discount coupon." = 153 responses "I don't like this marmalade." = 58 responses

12%

What is the final discount rate when Findley's Department store discounts all pants 30/40?

12%

The area of a large circle is 144 times the area of a small circle. If the length of the radius of the small circle is 1 unit, what is the length of the radius of the large circle to the nearest tenth?

12.0 units

A rectangular garden is extended 4% on the long sides and 8% on the short sides. To the nearest hundredth of a percent, by what percent does the area of the rectangle increase?

12.32%

At the outdoor market, Craig Wang sells string beans for $1.99 a pound. The beans cost $0.89 a pound to grow. What is the markup rate based on cost, to the nearest tenth of a percent?

123.6%

Traditional Hats sold 253 silk head scarves at $15 each in its test market last year. It has 55 additional markets of similar size. Forecast its unit sales for the first year.

14,168

Which value of x makes the proportion true? 5/x = 17/476

140

Sandic Manufacturing builds wall mounts for plasma televisions. It has total fixed costs of $2,650,000. The variable cost per mount is $21.30. The selling price per mount is $39.60. What is the break-even point in number of television mounts?

144,809

The price of a gallon of gas increased last month from $3.20 a gallon to $3.68 a gallon. What was the percent increase?

15%

Two passenger car models manufactured by Ellis Motor Company are the Leopard and the Gazelle. Last year 528,000 Leopards were sold and 432,000 Gazelles were sold. The total number of passenger cars that were sold last year amounted to 6,400,000. What combined market share can Ellis claim for these two models?

15%

WT Sports Store sells approximately 135 outdoor gas grills annually. In the same town, all outlets for gas grills sell approximately 850 annually. What market share does WT Sports have for gas grills in this town?

15.9%

The inventory record for the Affiliated Lumber Company shows the status of 4-by-8 sheets of wallboard. What was the number on hand at the end of April?

150

A furniture manufacturer uses 16,800 bolts per day. Safety stock is 6 days' usage. Bolts usually arrive within three days of ordering. What is the reorder point for bolts? (Enter only the number of bolts.)

151,200

Jason is working in his garden. The garden is triangular. The length of the longest side is 10 feet. He uses a portion of the garden for herbs. The portion is a similar triangle whose longest side is 4 feet. What is the percentage of the area of the herb garden compared to the area of the entire garden?

Refer to Table 1 on page 2 of the U.S. Census Bureau publication: Why People Move: Exploring the March 2000 Current Population Survey. From March 1998-1999, what percent of people who moved, moved for work-related reasons?

16.0

The current cost of a blender is $45. The cost in 1983 was $28. What is the CPI for the blender?

160.7

A house covers 1400 square feet. Janis rents 44% of the area of the house, while Jonathan rents 56%. How many more square feet does Jonathan rent than Janis?

168 square feet

The Francesco Company produces spaghetti sauce that is used in restaurants. The fixed costs total $1,329,050. The selling price per 64 oz. can of sauce is $12.40. The variable cost per can is $4.80. What is the break-even point in number of cans?

174,875

Longwood Photo and Hobby sold $465,000 worth of digital cameras last year. The total market for these cameras was $2,560,000. What market share did Longwood's command? (Round to the nearest tenth of a percent.)

18.2%

Music Incorporated produces classical CDs. The fixed costs total $2,147,950. The selling price per disc is $19.95. The variable cost per disc is $8.48. What is the break-even point in number of discs?

187,267

What percentage of the large triangle are the three small orange triangles together?

19%

Refer to the Department of Labor's unemployment insurance fact sheet: Fact Sheet. Under the heading Eligibility, which paragraph states that you might be eligible if you lost a job "through no fault of your own?" (Give the number of the paragraph under the heading, such as 1, 2, or 3.)

Which value of x makes the proportion true? x : 7 = 46 : 161

A survey showed that 21% of people in a test market liked a new type of "green" detergent and would buy it. A total of 10,200 boxes of detergent of all brands were sold in the test market last year. Based on the survey, how many boxes of the new detergent might the manufacturer sell?

2,142

Evaluate 7% of 34,551 rounded to the nearest tenth.

2,418.6

Assignment Service has cash on hand of $8,450 and equipment worth $11,170. It owes the bank $10,000. What is its current ratio to the nearest tenth?

2.0

Find the current ratio to the nearest tenth.

2.2

These are the records of Fishers' Commercial Bakery expenses for the second quarter of the year. What percent of total expenses did Fishers' Commercial Bakery spend on rent to the nearest tenth of a percent?

2.9%

A circular garden has an area of 25 square feet. The inner part is an herb garden that occupies 20% of the area of the garden. If the rest of the garden is flower beds, the flower beds occupy ____ square feet? (Enter only the number.)

The list price of kitchen cabinet knobs is $3.00. The net price to the retailer is $2.40. What is the trade-discount rate?

20%

What percent of 125 students is 25 students?

20%

Amy Flaxman is an assistant at the Montgomery Animal Clinic. Her annual salary is $37,500. Her benefits include $721 for one vacation week, $2,270 for health insurance, $2,325 for Social Security, $544 for Medicare, and $1,725 for unemployment insurance. What is the rate of her benefits rounded to the nearest tenth of a percent?

20.2%

Marcia Gibson is an accounting clerk with an annual salary of $22,500. Her benefits include $834 for vacation, $1,300 for health insurance, $1,035 for unemployment insurance, $1,395 for Social Security, and $326 for Medicare. What is the rate of her benefits?

21.7%

A sporting goods store is marking down ice skates. The regular selling price is $169.79. The sale price is $129.99. What is the markdown rate to the nearest tenth of a percent?

23.4%

The inventory record for the Affiliated Lumber Company shows the status of 4-by-8 sheets of wallboard. What was the opening balance at the beginning of April?

230

Lakesha's Computer Center has a 20-gigabyte, 1.6-GHz desktop computer with flat screen monitor on sale for $1,798. The regular price of this computer system is $2,388. What is the markdown rate?

24.7%

Lee Johnson sold golf shoes for $89.99 a pair. The shoes cost the store $26.28 a pair. What was the markup rate based on cost to the nearest tenth of a percent?

242.4%

Mercy Hospital surveyed 2,700 patients who were admitted to the hospital last year and stayed at least two nights. They were asked the following question: How would you rate the hospital food you were served during your recent hospital visit? The following results were obtained. Mercy had predicted that 650 people would respond that the food was outstanding. Find the absolute error. Outstanding = 625 Good = 734 Fair = 822 Poor = 437 Don't know = 82

Divide $16.25 by $64.99 and express as a percent. (Round to the nearest percent.)

25%

Shirts 'n Pants R Us has a clearance on overstocked pants. Pants that usually sell for $44 are on sale for $33. What is the markdown rate?

25%

The list price for a lawnmower is $420. The net price is $315. What is the trade-discount rate for the lawnmower? (Hint: Find the trade discount first and use it to find the rate.)

25%

Thors Retail purchases the items shown from Thors Wholesalers. Find the trade-discount rate of the charcoal.

25%

Out of 2,700 office workers in a marketing research study, 953 preferred a new printer ink cartridge. The estimated market size is 1,700,000. An office worker uses about 42 ink cartridges each year. What is the annual sales potential rounded to the nearest hundred thousand?

25,200,000 cartridges

Daniel runs a race of 2 miles in 8 minutes at a steady speed. Each mile he runs beyond 2 miles, his speed slows 1 mile a minute. It would take him ____ minutes to run 5 miles. (Enter only the number.)

Whitewater Supply Company has this inventory record for its inflatable vests. What was the number on hand on June 26th?

Jack Atherton is a skin care specialist with an annual salary of $21,600. His benefits include $830 for vacation, $1,270 for health insurance, $1,410 for unemployment insurance, $1,339 for Social Security, $313 for Medicare, and $750 for vision and dental insurance. What is the rate of his benefits?

27.4%

Select the equivalent expression for 52 - [30x + 2(12 - x)]

28(1-x)

These values are standardized test scores. What is the mean score to the nearest tenth? 27.2 13.5 42.1 37.9 25.0

29.1

The Fineman Company conducted a time study of an installation job. The installers took anywhere from 2½ hours to 4 hours to complete the task. The Fineman Company pays its installers $14.50 an hour. The company also pays $70 per unit in direct material costs. It wants to spend no more than $113.50 in prime costs. What is the longest time an installer should spend on the task?

3 hours

A small appliance manufacturer uses 9,810 spools of zip wire every 45 working days. The lead time for the wire is 13 days. Safety stock is 5 days' usage. What is the reorder point? Enter only the number. (Hint: First find the daily usage and compute the exact amount of safety stock.)

3,924

Find 631.44 * 6.314 and round your answer to the nearest thousandth.

3,986.912

Janine Xavier constructed a model airplane in perfect proportion to the original. The length of the model's wing was 13 inches while the length of the actual wing is 39 feet. If the diameter of the propeller is 9 feet, what is the diameter of the propeller on Janine's scale model?

3.00 inches

Find x when 148 ≥ 1,000x ÷ 25

3.7 ≥ x

Jason is comparing surveys on used cars. A specific brand was scored on its characteristics with the following weights of importance. Calculate the car's mean score to the nearest tenth. (Hint: Remember to divide by the total weights to find the weighted average.) Drive train = 3 (weight 3) Safety = 5 (weight 5) Gas mileage = 2 (weight 1) Cost of repairs = 3 (weight 1)

3.9

Zucker Enterprises manufactures painted porcelain dolls. Zucker conducted a time study of the painting task. The painters took from ½-hour to 1½ hours to paint one doll. Zucker Enterprises pays its painters $18.00 per hour. The company also pays $11.00 per doll for materials. It wants to spend no more than $24.50 in prime costs. What is the longest time a painter should spend painting a doll?

3/4 of an hour

Jocelyn held her daughter's birthday party at a trampoline gym. It cost $250.00, not including refreshments. Refreshments cost $3.95 for each person who attended. Jocelyn paid a total of $368.50 for the party. How many people attended?

LC Motor Sales conducted a survey to find out why people who bought cars at the dealership did not use it for ongoing service. The following responses were collected. What is the percent of respondents who felt LC Motors charged too much? moved away = 42 responses dislike the quality of service at LC Motors = 23 responses service charges are too high at LC Motors = 102 responses the service department is too crowded = 124 responses the location is not convenient = 17 responses other reasons = 26 responses

31%

Last year's sales of a waterproof duct tape were 215,420 units to hardware stores and 78,353 to grocery stores. Sales to both markets are expected to increase by an average of 8% this year. What is the predicted combined total of unit sales of the duct tape to hardware and grocery stores this year? Round up to the nearest whole unit.

317,275

What percent of the area of the regular hexagon do the shaded triangles cover? (Estimate to the nearest whole percent.)

33%

Valeria Barnes earns an annual gross pay of $42,000. She gets $14,000 in total benefits. What is the rate of her benefits?

33.3%

John measured his triangular garden. He plans to use 50% of the area of the garden for edible plants. The height of the garden was 17 feet and the base was 8 feet. What is the area that John will use for edible plants?

34 square feet

Round to the nearest tenth of a percent $128.34 ÷ $367.21

35.0%

Simplify 77x - [42x + 33(10 - 20]

35x + 330

On average, Justin's Junkyard receives a car twice a day. Each car yields about 30 usable parts. The junkyard is open Monday through Saturday 9 am to 5 pm. Which equation represents the number of usable parts, U, Justin's Junkyard can gather in W weeks?

360W = U

Peyton Taylor drew a map with scale 1 cm to 10 miles. On his map, the distance between Silver City and Golden Canyon is 3.75 cm. What is the actual distance between Silver City and Golden Canyon?

37.5 miles

The Hair Care Place sells 88 bottles of shampoo each month. It takes 7 days lead time to replace the shampoo. Safety stock is 10 shampoo bottles. What is the reorder point, considering 22 working days in a month? (Round to the nearest whole number.)

38 shampoo bottles

Evaluate: (6,153 - 273) ÷ 15

392

Sullivan Products manufactures candy. The company plans to manufacture 1,230,000 chocolate bars to be sold at $0.36. The fixed costs are estimated to be $109,900. Variable costs are $0.08 per unit. How many chocolate bars must be sold for Sullivan Products to break even?

392,500

Evaluate A, when x = 2. (Use mental math.) A = -4+3x^2 / 5/5.2

Jamal and his friends are conducting a car wash to raise money for a school play. Over the first weekend they raised $336.00, which was 80% of what they set out to earn. If they collect $21 for each car they wash, how many more cars must they wash?

Suppose m= 7, t = 20 and r = 35. What is t(m ÷ r)?

The FTC Bureau of Competition created a pamphlet Bureau of Competition describing the purpose of its divisions. Scroll through the pamphlet. How many divisions are dedicated to mergers?

The invoice date is August 1. The terms are 4/10, n/30. What is the cash discount being offered? What is the last day to take the discount?

4%; August 11

Refer to Table 1 on page 2 of the U.S. Census Bureau publication: Why People Move: Exploring the March 2000 Current Population Survey. How many people moved for a new job or a job transfer in March 1999-2000?

4,052,000

An architect has been hired to help remodel the kitchen of a house. The kitchen is rectangular with a width of 14 feet and a length of 20 feet. He creates a scale drawing with a width of 7 inches. What is the percentage of the width of the scale drawing compared to the width of the kitchen to the nearest tenth of a percent?

4.2%

The median cost to air condition a house in Florida during the summer last year was $1,870. This year the median cost to air condition the same house is $1,950. Find the rate of inflation.

4.3%

Juarez Distribution Company conducted a time study of Martha Smith's job as an installer. The difference between the averages for her longest and shortest tasks was _____ seconds. (Enter only the number, to the nearest tenth of a second.)

4.4

An insurance policy costs $4.21 per $1,000 of coverage. Next year, the rates increase to $5.90 per $1,000 of coverage. To the nearest whole percent, what is the percent increase in premium?

40%

Indira's Exotic Plant Nursery has marked down some of its medium-sized indoor plants by $12.00. The regular selling price for these plants is $29.99. What is the markdown rate?

40%

A square picture frame must be enlarged by 20% on each side. To the nearest hundredth of a percent, by what percent does the area of the square increase?

44.00%

Mercy Hospital surveyed 2,700 patients who were admitted to the hospital last year and stayed at least two nights. They were asked the following question: How would you rate the hospital food you were served during your recent hospital visit? The results of the survey are below. What percent of respondents thought the food was fair or poor? (Hint: Write your answer rounded to the nearest tenth like this: 16.3% .) Outstanding = 625 Good = 734 Fair = 822 Poor = 437 Don't know or no response = 82

46.6%

The sides of a rectangular building are 30 yards and 25 yards. What percent greater is the area of the base of the building than a square building whose sides are 20 yards?

47%

LC Motor Sales conducted a survey to find out why people who bought cars at the dealership did not use it for ongoing service. The following responses were collected. The marketing director for LC Motor Sales predicted that the number of customers who felt the location was not convenient would be 25. Determine the relative error. (Hint: Find the absolute error first.) moved away = 42 responses dislike the quality of service at LC Motors = 23 responses service charges are too high at LC Motors = 102 responses the service department is too crowded = 124 responses the location is not convenient = 17 responses other reasons = 26 responses

47.06%

The invoice date is August 1st. The terms are 5/10 EOM. What is the percent of the cash discount being offered? (Include the percent sign in your response.)

What percent of $257.00 is $12.85? Round answer to the nearest tenth of a percent.

What is the median height of these eleventh-grade students? Hint: Sort the values from least to greatest first. 5' 5"; 5' 8"; 5' 3"; 5' 7½"; 5' 8½"; 5' 9"; 5' 7"; 5' 9"; 5' 10"

5'8

What is the mode for the height of these eleventh-grade students? Hint: Sort the values from least to greatest first. 5' 5"; 5' 8"; 5' 3"; 5' 7½"; 5' 8½"; 5' 9"; 5' 7"; 5' 9"; 5' 10"

5'9

Refer to the table in the Social Security Administration's Retirement Planner. The maximum benefit for the spouse is ____ of the benefit the worker would receive at full retirement age.

50%

Mercy Hospital surveyed 2,700 patients who were admitted to the hospital last year and stayed at least two nights. They were asked the following question: How would you rate the hospital food you were served during your recent hospital visit? The results of the survey are below. What percent of the group surveyed considered the food to be outstanding or good? Round to the nearest tenth of a percent. Outstanding = 625 Good = 734 Fair = 822 Poor = 437 Don't know or no response = 82

50.3%

Evaluate 365 - (135% of 230)

54.5

Georgia Preserves is test marketing a new peach-orange marmalade. The following responses were collected from 500 people who were offered samples of the new product at a shopping mall. If the company does not issue a discount coupon, what percent of respondents are most likely to buy this product between the present time and next year? "I love it! Where can I buy it today?" = 127 responses "I'll probably try it over the next year, sometime." = 162 responses "I'll probably try it, but only if I have a discount coupon." = 153 responses "I don't like this marmalade." = 58 responses

58%

Find 20% of 10% of 300. (Hint: Use mental math to find this answer. The answer is NOT 30% of 300.)

On average, Justin's Junkyard receives a car twice a day. Each car yields about 30 usable parts. The junkyard is open Monday through Saturday. Which expression represents the number of usable parts Justin's Junkyard can gather in a typical week?

6 * 30 * 2

What is the complement of 40%?

60%

Evaluate 5% of 12,322 rounded to the nearest tenth.

616.1

Divide $27.42 by $44.00 and express as a percent.

62%

A camping store sells 750 tents in 30 working days. The lead time for tents is 21 days. Safety stock is 4 days' usage. What is the reorder point? (Hint: First find the daily usage and compute the exact amount of safety stock.)

625 tents

Refer to the table in the Social Security Administration's Retirement Planner. For someone born in 1937 or earlier, the normal retirement age is ______ years old.

What is the complement of 35%?

65%

Fiona's Outlet buys carpenter jeans for $15.20 per pair. The outlet marks up each pair of jeans $10.00. What is the markup rate based on cost, rounded to the nearest tenth of a percent?

65.8%

Round to the nearest tenth of a percent $89.54 ÷ $133.78

66.9%

Which pair of equations shares a solution?

6x-2=40 x+2(x-4)=34-3x

Suppose you purchased office furniture for your business. According to IRS publication 946, after how many years will the furniture be fully depreciated? (Hint: Look under the heading, Which Property Class Applies Under GDS?)

Juarez Distribution Company conducted a time study of Martha Smith's job as an installer. Using the observation chart, find her average time for the first two tasks combined.

7.8 seconds

Double Impressions charges 9 cents a page for machine fed copies and 21 cents per page for copies that are placed by hand on the copy machine. If your bill for 120 copies is $19.44, how many copies of each type were made?

72 copies at 21 cents, and 48 copies at 9 cents

The list price of a food processor is $490. The chain discount is 20% less 10%. What is the net-price rate?

72%

Find 0.08245 * 900.0 and round your answer to the nearest thousandth.Find 631.44 * 6.314 and round your answer to the nearest thousandth.

74.205

What is the net-price rate when a drill kit originally priced at $165 is discounted 15% on top of 10%?

76.5%

Wakena Tires sells approximately 3,760,000 car tires and 1,200,000 truck tires each year. About 47,000,000 car tires and 26,000,000 truck tires are sold each year in the United States. What is Wakena's market share in each of these two markets (cars and trucks)?

8% car and 4.6% truck

Whitewater Supply Company has this inventory record for its inflatable vests. What was the number on hand on June 18th?

A rectangle is 42 square feet. What percent of the area of the rectangle is a square with side lengths of 6 feet?

86%

On her last four math tests, Tenisha Rowly had 90%, 94%, 87%, and 83%. What is her mean (average) test score?

88.5%

Leala took five tests in science. Find her average score to the nearest tenth: 78, 92, 94, 97.5, and 83

88.9

Evaluate: (3 ½ - 2.75) * 12

A rectangular room has sides 10 feet and 35 feet. A bed within the room has dimensions 8 feet by 4 feet. What percent of the area of the room does the bed cover? (Round to the nearest whole percent.)

Calloway Department Store buys jackets for $19.75 each and sells them for $37.88 each. What is the markup rate based on cost?

91.8%

Which of the following is true when 10,000 units are sold?

A loss of about $2,800

Which of the following is true when 80,000 units are sold?

A loss of about $23,000

Which of the following are important to consider when approximating overhead or operating expenses? (Select all that apply.)

A percent of the wages of the employees who are invovled with production, Taxes, Rent, Electric Bill

A group of people who test a product or respond to an opinion survey are called ________.

A sample

American Express provides travel-related, financial advisory, and international banking services. In May 2011, it sold stock for $44 per share. What is its three-letter code on the New York Stock Exchange?

AXP

Which word in the acronym MACRS means "at a faster pace?" (Spell out the word.)

Accelerated

The U.S. Department of Justice Antitrust Division has guidelines for the public about behavior of companies that may block competition Public Guidelines. What is the definition of price-fixing?

An agreement among competitors that restricts price competition and violates the law

The net price of goods from Ricardo's Pet Supply to Jack's Aquarium is $598. The terms are 5/10 EOM. The date of the invoice is March 11th. What is the last day to pay the invoice in full?

April 30

A few years ago, Bank of America sold each of its shares at $51.00. In May 2011 its selling price was $14.00 per share. What is Bank of America's 3-letter code on the New York Stock Exchange?

BAC

Refer to the items listed under the heading, Which Property Class Applies Under GDS? of IRS publication 946. Which of the following are subject to a full depreciation after five years? (Select all that apply.)

Breeding cattle and dairy cattle, Computer and peripheral equipment, Automobiles, taxies, buses, and trucks

The Internal Revenue Service (IRS) has posted a Brief Overview of Depreciation. Read the second paragraph. What kinds of tangible property can be depreciated? (Select all that apply.)

Buildings, Machinery

Citigroup Inc. International is a financial conglomerate with operations in consumer, corporate, and investment banking and insurance. What is its one-letter symbol for common stock on the New York Stock Exchange?

Hang Hu rented an electric nailer to finish putting together kitchen cabinets. The nailer cost $45 down and $5 for each hour. Which of the following represents Hang's cost, C, after h hours?

C = 45+5h

A rental company at the park rents out bicycles for a fee of $15.00 plus $8.00 for every half-hour. Which equation expresses C, the cost of renting a bicycle for h hours?

C=15+16h

ConocoPhillips is an international oil and gas exploration and production company. What is its 3-letter code on the New York Stock Exchange?

COP

Refer to the FTC index page Antitrust Laws. The meaning of the word innovation as used in the first paragraph is _______.

Change in a product or service that improves its usefulness

This balance sheet balances assets with the sum of total liabilities and owner's equity. L26

Check Graph

This balance sheet balances assets with the sum of total liabilities and owner's equity. L26 Text

Check Graph

This balance sheet balances assets with the sum of total liabilities and owner's equity. L26 Text: Balance Sheet

Check Graph

The _________ is a way of calculating the net price on items that are subject to a trade discount by subtracting the discount rate from 100 percent.

Complement method

A person who consumes or buys goods and services is called a _______.

Consumer

The cost of living index is also called the ___________ price index.

Consumer

The break-even point occurs when revenue equals _____. (Enter one word.)

Cost

The complement of the markup rate based on selling price is the percent of _____ based on selling price.

Cost

Step 3 of the derivation shows this equation: Cost ÷ Selling Price = (100% - Markup Rate as a percent) What is the result if you multiply both sides of the equation by Selling Price? (Hint: It is not step 4.)

Cost = (100% - Markup Rate as a percent) * (Selling Price)

________ may occur when the supply of goods is greater than the demand for them.

Deflation

__________ occurs when prices decrease over a period of time.

Deflation

Refer to page 19 of the FTC Bureau of Competition pamphlet Bureau of Competition. What did the Anticompetitive Practices Division order Intel to stop doing?

Discouraging computer makers from using non-Intel computer chips

Which of the following is not generally considered a benefit to an employer who reimburses employees for tuition?

Emplyees will be unable to return the money to the employer, if they fail a course

Owner's ______ equals the total assets of a company, minus its total liabilities.

Equity

The inventory record for the Affiliated Lumber Company shows the status of 4-by-8 sheets of wallboard. When did the inventory fall below the reorder point?

Every month

When prices are rising over time, which of the following will result in a lower cost of goods sold?

FIFO

The Internal Revenue Service (IRS) has posted a Brief Overview of Depreciation. According to the items under the third paragraph, a taxpayer may not depreciate improvements they have made to property, unless the taxpayer owns the property.

False

The Internal Revenue Service (IRS) has posted a Brief Overview of Depreciation. According to the items under the third paragraph, the IRS allows taxpayers to depreciate property when it is in service for personal use.

False

The definition of Cost as a percent of Selling Price is Cost ÷ Markup Rate as a percent.

False

The demand relationship is a direct relationship between the demand for and the price of an item.

False

When a business is a certain size, the employer must pay its employees tuition reimbursement.

False

A _________ income tax is a type of tax where the tax rate increases as income increases.

Graduated

Which of the following may be considered benefits paid to an employee by an employer. (Select all that apply.)

Health insurance, paid vacation, retirement plan

What does "2/10 net 30" mean on an invoice?

If paid 10 days from the date of the invoice, the customer gets 2% discount. Full payment is due 30 days from the date of the invoice.

The chart shows the number of plants Shamrock Nursery sold in the first 6 months of the year. Based on this information, which statement is true?

In the first 6 months on the year, Shamrock sold an average of more than 700 plants a month

The _______ statement shows the income and operating expenses of a business.

Income

The general increase in the cost of goods and services is called __________.

Inflation

___________ is a loss of buying power of the currency.

Inflation

Why is the current ratio important?

It gives the proportion of assets to liabilities and whether or not a company can pay its bills

Tuition assistance was once considered non-taxable income. Since when has tuition assistance become taxable income?

January 2011

A commercial loan is a loan offered to a business. The interest rate is usually about 1% or 2% higher than the prime rate. The amount of money earning interest is the principal. The maturity is the total amount of the loan (principal plus interest) that must be repaid.

L28 Key Terms

Refer to this U.S. Census Bureau study of Geographical Mobility in the United States in the last decade of the 20th century: Geographical Mobility. According to the information in this study, what is the best estimate of the number of moves would you have left to look forward to at age 16?

Less than 10.8 and more than 9.2

I took an opinion survey about a new product, developed by an opinion research firm. The survey included a product test to find the product's sales potential and what its market might be. The size of the sample was about 100 people

Lesson 16 Key Terms

Money or assets owed by a business are called ________.

Liabilities

The money and merchandise you owe to creditors are your ________.

Liabilities

Which of the following are valid expressions for the accounting equation? (Select all that apply.)

Liabilities + Owner's Equity = Assets Liabilities = Assets - Owner's Equitity Owner's Equity = Assets - Liabilities

Place these links of a supply chain in order, starting with Link 1.

Link 1 - Raw material suppliers Link 2 - Manufacturers Link 3 - Distributors Link 4 - Retailers Link 5 - Consumers

The Internal Revenue Service (IRS) has posted a Brief Overview of Depreciation. According to the next to last paragraph, what is the proper depreciation for most property?

MACRS

The _______ method is used to calculate depreciation, permitted by the Tax Reform Act of 1986.

MACRS

Generally, who produces the goods in a supply chain?

Manufacturer

Refer to Table 1 on page 2 of the U.S. Census Bureau publication: Why People Move: Exploring the March 2000 Current Population Survey. Which of the three time frames had the smallest rate of moving for work-related reasons?

March 1998-1999

A ______ is the difference between the regular selling price of an item and its discounted price.

Markdown

Refer to Table 3-5 on page 3-10 of the Department of Labor's 2010 publication on monetary entitlement: Monetary Entitlement. Which state gave the highest maximum weekly payment?

Massachusetts with $943

Refer to Table 3-5 on page 3-10 of the Department of Labor's 2010 publication on monetary entitlement: Monetary Entitlement. Which state (exclude Puerto Rico) gave the lowest maximum weekly payment?

Mississippi with $235

Refer to the FTC index page Antitrust Laws. According to the FTC, aggressive competition among sellers gives consumers ______________. (Select all that apply.)

More choices, The benefits or lower prices, Higher quality products and services

The list price of paint is $24 and the trade-discount rate is 30%. What is the correct setup to find the net price using the complement method?

Net Price = $24*0.7

Which of the following is the correct formula?

Net Price = List Price - Trade Discount

Suppose overhead is estimated to be 40% of an item's selling price and markup is $30.00. If the cost is $25.00, which of the following is true?

Net Profit = $30.00-0.4*Selling Price

The amount by which assets exceed liabilities is called _________. (Select all that apply.)

Net worth, Owner's equity, Capital

According to the U.S. Department of Justice Antitrust Division Public Guidelines, which may be features of price-fixing agreements? (Select all that apply.)

Not advertising prices, Adopting a standard formula for computing prices, Eliminating or reducing discounts

Anita Alvarez sells clothing for Toddler's Shop. Baby blankets sell for $29.99 after a markup rate based on cost of 109%. Find the cost to the nearest cent.

Not: $27.29

This graph shows the supply and demand relationships for a toy. Quantities are per week. To the nearest dollar, what is the approximate price per item, when 100 items are supplied per week?

Not: $9.00

Interest on a loan, calculated on a 360-day year, is called __________.

Ordinary interest

Operating expenses are the costs of running a business, such as employee wages and salaries, rent, utility charges, and taxes. A one-word synonym for operating expenses or operating costs is _______.

Overhead

Pultegroup, Inc. builds homes. In May 2011 it sold stock for $7.00 per share. What is its 3-letter code on the New York Stock Exchange?

PHM

_________ measures the amount of goods and services the average citizen can afford to buy in one year.

Per capita GDP

MACRS uses a different __________ of the original cost to compute depreciation each year.

Percent

The markdown rate is expressed as a _______ of the regular selling price of the item.

Percentage

The lowest interest rate available to commercial customers at a given time is called the ___________________ rate.

Prime

Net _____ is the same as net income.

Profit

Transocean is the world's largest offshore well services drilling company. In May 2011, it sold stock for more than $81 per share. What is its three-letter code on the New York Stock Exchange?

RIG

Which of the following can help you compute an item's markdown? (Select all that apply.)

Regular Selling Price minus Sale Price, Markdown Rate * Regular Selling Price

A discount paper goods store sells 132 single paper towel rolls every 11 business days. More paper towel rolls can be ordered and received in two days, but only in cases of 20 rolls. The discount paper goods store carries no safety stock. What is the reorder point and how many paper towel rolls must be ordered once the reorder point is reached?

Reorder point is 24 rolls; 40 must be ordered

Refer to Table 1 on page 2 of the U.S. Census Bureau publication: Why People Move: Exploring the March 2000 Current Population Survey. Which of the work-related reasons contained the least number of people?

Retired

MACRS depreciates an item's value fully, so at the end of an item's life, the item has no ___________ value. (Select the best term that fits the sentence.)

Salvage

The invoice date is August 1st. The terms are 5/10 EOM. What is the last day to take the discount?

September 10

The invoice date is August 1st. The terms are 5/10 EOM. By when must the invoice be paid?

September 30

The annual cost of carrying inventory includes ___________. (Select all that apply.)

Storage fees, Taxes, Insurance on the goods

The ________ method of figuring depreciation assumes that an item depreciates by the same amount each year.

Straight-Line

The ___________ method is the method of depreciating the same amount from year to year.

Straight-Line

A coffee bean grower, a bean grinder in Ethiopia, a cargo ship carrying the coffee, a cafe in Italy, and customers drinking coffee form a ________. (Enter two words to complete the sentence.)

Supply chain

Is an 8-ounce can of fruit for $1.19 or a 64-ounce can for $5.87 the better buy? Why?

The 64-ounce can is the better buy, because its unit price is 9 cents while the unit price for the 8-ounce can is 15 cents

Each state creates its own requirements that must be in agreement with the federal guidelines. A link to each state's unemployment agency is listed on the Department of Labor's website: Agencies. The United States has 50 states. Why does the Department of Labor's website have 53 links?

The District of Columbia, the Virgin Islands, and Puerto rico are included

The Jones and Smythe families went to dinner. Each family received a bill of $120.00. The Jones family left a $25 tip on the table, while the Smythe family left a 20% tip. How much more did one family pay than the other?

The Jones family paid $1 more

Which of the following is true when 350 units are sold?

The company has lost about $62,000

The Internal Revenue Service (IRS) has posted a Brief Overview of Depreciation. According to the fourth paragraph, what would happen if a business bought an expensive computer in February 2012 and sold it in August 2012?

The computer cannot be depreciated on tax forms

Which of the following graphs always begins at (0, 0)?

The graph of the supply relationship

Which situation might this graph represent? (Graph curving upwards)

The height of a rocket after takeoff

Note cards sell one pack of 100 for $5.33 or one pack of 300 for $14.84. Which is the better buy? Why?

The pack of 300 is the better buy, because its unit price is 4.8 cents while the unit price for the back of 100 is 5.3 cents

Which terms describe the point at which the supply and demand relationships intersect? (Select all that apply.)

The point of quilibrium, The balance point, The selling price that will bring most profit

Which real-world situation may be modeled by the following graph? (Line steady diagonal down)

The steady decrease in value of a car after purchase

What situation might this graph represent? (Select all that apply.) (Line steadily decreasing diagonally downwards)

The value of a car that has depreciated during 17 years, The amount of money owed during 17 years of making regular payments

Which of the following is true about travel expenses?

Travel expenses are costs that are required for business travel

Another name for (100% - Markup Rate as a percent) is the complement of Markup Rate.

True

Refer to the FTC's index page Antitrust Laws. The FTC website states that the term consumers refers to both individuals and businesses.

True

Refer to the first paragraph under the first topic titled Introduction of IRS publication 946. According to this paragraph, MACRS applies only to property used for business after 1986.

True

The law of supply states that as the supply of a certain product or service increases, its price also increases.

True

This formula for computing selling price is useful when a retailer knows markup rate and cost: Cost ÷ (complement of Markup Rate) = Selling Price

True

Tuition reimbursement is sometimes called tuition assistance.

True

The chart shows 10 states and the average length of stay in days in each of their hospitals. Based on this information, which statement is true?

Two of the states had an average hospital stay greater than 6 and less than 7 days

These are the expense records of Samuel's Dry Cleaning and Laundry Services for the first quarter of the year. Which expense categories are more than 30% of total expenses? (Select all that apply.)

Utilities, Payroll

Refer to the Department of Labor's unemployment insurance fact sheet: Fact Sheet. How often must someone file for continuing eligibility? (Hint: Read under the heading Continuing Eligibility.)

Weekly or biweekly

According to the presentation, an employer may place restrictions on a tuition reimbursement plan, such as _____________ and _____________ . (Select all that apply.)

When reimbursement takes place

Consider each grid line is one unit. Which point on the graph is the solution to this system of linear equations? -x + 5 = y 2x - 4 = y

Exxon Mobil Corporation explores for oil and natural gas on six of the seven continents. In May 2011, it sold stock for $87.00 per share. What is its 3-letter code on the New York Stock Exchange?

XOM

According to Publication 15 by the Internal Revenue Service (IRS), must an employer always withhold Social Security and Medicare taxes from a bonus paid to an employee? (Read the first paragraph under 5. Wages and Other Compensation.)

Yes

Mercy Hospital surveyed 2,700 patients who were admitted to the hospital last year and stayed at least two nights. They were asked the following question: How would you rate the hospital food you were served during your recent hospital visit? The following results were obtained. If 15% or more responded that the food was poor, Mercy Hospital planned to add some new food choices to the patients' menus. Will they need to do so? Outstanding = 625 Good = 734 Fair = 822 Poor = 437 Don't know = 82

Yes, 16.2% of the patients answered "poor" on the survey

_____ consist of cash, purchased items, and money that is owed to a business.

assets

What is the correct setup to find the cost, C, of renting a boat when you must pay $15 down and $7.50 for each half-hour? (Hint: Use t for time.)

c = 15 + (7.5)t

Heloise wanted to find out the time (t) it takes to arrive at her friend's house 14 miles away. She sped along on her scooter at a steady rate of 15 mph. Which equation is a possible set up for finding t?

t = 12 mi / 15 mph

Refer to the introductory paragraph of IRS publication 946. The paragraph mentions two depreciation systems included under MACRS. What are they? (Select the two that apply.)

the Alternative Depreciation System (ADS), The General Depreciation System (GDS)

Find x when 2x ≤ 14x + 36

x ≥ -3

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