Exam 1: Review and Applications of Basic Mathematics

Fred has an annual salary of $40,000.00. He is paid semi-monthly and his regular workweek is 40 hours. What is his regular salary per pay period?

One of the methods permitted by Generally Accepted Accounting Principles for reporting the value of a firm's inventory is weighted-average inventory pricing. The Boswell Corporation began its fiscal year with an inventory of 156 units valued at $10.55 per unit. During the year it made the purchases listed in the following table. At the end of the year, 239 units remained in inventory. Determine: a) The weighted-average cost of the units purchased during the year. b) The weighted-average cost of the beginning inventory and all units purchased during the year. c) The value of the ending inventory based on the weighted-average cost calculated in b.

At the start of the year, Ajax Corporation had 300,000 shares outstanding. On May 1, 30,000 shares were issued. On September 1, another 50,000 shares were issued. Calculate the weighted average shares outstanding.

The fiscal year for Pine Valley Skiing Ltd., the owner of a downhill skiing facility, ends on June 30. The company began the recently completed fiscal year with its summer maintenance crew of 7. It took on 6 more employees on September 1, hired another 18 on November 1, and added 23 more on December 1. Eleven employees were laid off on March 1, 20 were let go on April 1, and another 16 departed on May 1, leaving only the permanent maintenance personnel. What was the average number of employees per month working for Pine Valley during the fiscal year? (Assume that each month has the same length.)

A client has a first mortgage of $175,000 at 5.8% and a second mortgage of $25,000 at 6.7%. What is the average rate of mortgage that the client pays?

a) What percentage is the HST of an HST-inclusive price in New Brunswick? b) The total price including HST of an item is $171.35. What is the amount of HST included in the price?

At the start of the year, Sanford Corporation began the year with 750,000 in shares outstanding. On July 1, 60,000 shares were repurchased by the company, and another 40,000 shares were repurchased on December 1. Calculate the weighted average shares outstanding.

Calculate the PST on a jacket costing $89.50 in British Columbia, Manitoba, and Saskatchewan. Use TABLE 1.2 as reference for the PST rates of the individual states.

The Royal Canadian Mint sells one troy ounce (31.16 grams) platinum collector coins of 99.95% purity. How many milligrams of impurities are in a single coin?

Trevor invested in Stocks, bond and mutual funds. His investment holdings consisted of twice as much bonds as stocks, and four times the amount of mutual funds as stocks. Last year stocks returned 4%, bonds 7% and mutual funds 2%. His average return for the year was 3.71%

Round the following to four-figure accuracy: 1,000.49

Jayelle took six courses last semester. Her grades and course credits are as follows: Use the Letter Grade to Grade Point Value conversion table below to calculate her grade point average for the semester.

Evaluate the answer correct to the cent:

What is his total remuneration for a two-week period in which he worked 4.5 hours overtime at time-and-a-half?

A hockey goalie's "goals against average" (GAA) is the average number of goals scored against him per (complete) game. In his first 20 games in goal, O. U. Sieve had one shutout, two 1-goal games, three 2-goal games, four 3-goal games, seven 4-goal games, two 6-goal games, and one 10-goal disaster. Calculate his GAA.

$75 is 20% of what amount?

Trevor earns a base monthly salary of $2,000 plus a commission of 3% on sales exceeding his monthly quota of $25,000. He receives a further 3% bonus on sales in excess of $50,000. What must his sales be in order to gross $4,000 per month?

Evaluate 8 - 5 × 2 - 3 =

Evaluate the answer correct to the cent: (54 - 36) ÷ (4 + 2)²

Sandy is a commissioned car sales consultant, and receives weekly pay of $300 plus $250 commission for each vehicle sold. If Sandy, earned $4,450 last month, determine the number of vehicles sold.