Question 1

Corrine Davis had gross earnings of $937.50 for the week. If she receives a base salary of $664.00 on a quota of $7800.00 and a commission of 6.75% on sales exceeding the quota, what were Corrine's sales for the week?

Accepted Answer

The answer of Corrine Davis had gross earnings of $937.50...

Question 2

Extend and total the following invoice.
Quantity Description Unit Price Amount
77 Item A $0.65 __________
208 Item B $83  __________
621 Item C $1.19 __________
414 Item D $1.95 __________
Total __________

Accepted Answer

The answer of Extend and total the following invoice.
Quantity Description...

Question 3

Emily's residence is assessed by the local taxation department at $249 500.00. Calculate the property taxes paid on this property if the existing mill rate is 15.

Accepted Answer

The answer of Emily's residence is assessed by the local...

Question 4

Purchases of an inventory item during last month were as follows:
Number of items Unit price
5 $5.00
10 $8.00
8 $6.00
15 $3.00
What was the weighted average price per item?

Accepted Answer

The answer of Purchases of an inventory item during last...

Question 5

Calculate the weighted-average cost of the following inventory purchases: Date Quantity Purchased Cost per Unit Total Amount
May 4 33 $12.25
May 11 41 $13.87
May 29 37 $11.99

Accepted Answer

A)  $12.76 
B)  $12.12 
C)  $22.11 
D)  $21.21 
E)  $22.22

Question 6

A store located in Penticton, B.C., sells a computer for $2 975.00 plus HST. If the same model is sold at the same price in a store in Thunder Bay, Ontario, what is the difference in the prices paid by consumers in the two stores?

Accepted Answer

The answer of A store located in Penticton, B.C., sells...

Question 7

Your full-time job pays you a bi-weekly salary of $2 963.56. In addition to this position you have been working part-time for the last 15 months and earn $500 semi-monthly. You have other payments that total $14 400 per year. What is the maximum monthly amount that your payments can be towards a house purchase? Assume that property taxes and heating costs are included in the $14 400.

Accepted Answer

A)  $2844.42 
B)  $3488.42 
C)  $2488.42 
D)  $1961.42 
E)  none of the above

Question 8

Simplify:

Accepted Answer

The answer of Simplify: ...

Question 9

A town has a total residential assessment of 900 million dollars. The town must meet expenditures of 45 million dollars.
a) If 90% of the expenditures are charged against residential real estate, calculate then total property taxes that must be raised.
b) Calculate the mill rate.
c) Calculate the property tax on a property assessed at $235 000.00

Accepted Answer

The answer of A town has a total residential assessment...

Question 10

Alicia Helm of Wawanesa, Manitoba, bought a ring for $5 700. Since the jeweler is shipping the ring, Alicia must pay a shipping charge of $30.00. She must also pay PST and GST on the ring. Find the total purchase price of Alicia's ring.

Accepted Answer

The answer of Alicia Helm of Wawanesa, Manitoba, bought a...

Question 11

Sean's residence is assessed by the local taxation department at $160 000. Calculate the property taxes paid on this property if the existing mill rate is 20.

Accepted Answer

The answer of Sean's residence is assessed by the local...

Question 12

Change 0.2% into a fraction.

Accepted Answer

A)   
B)   
C)   
D)   
E)

Question 13

A salesperson receives a weekly base salary of $800.00 on a quota of $2 900. On the next $2100, she receives a commission of 14%. On any additional sales, the commission rate is 19%. Find her gross earnings for a week in which her sales total $8455.

Accepted Answer

The answer of A salesperson receives a weekly base salary...

Question 14

Barb's Home Income Tax business operates only during tax season. Last season Barb grossed $38790 including GST. During that season she spent $9 500 before GST on her paper and supply purchases. How much does Barb owe Revenue Canada for GST?

Accepted Answer

The answer of Barb's Home Income Tax business operates only...

Question 15

Evaluate: 395(2 + .15 ∗ 290/365)

Accepted Answer

The answer of Evaluate: 395(2 + .15 ∗ 290/365)...

Question 16

A retailer returned 300 defective items to the manufacturer and received a credit for the retail price of $0.75 less a discount of 1/3 of the retail price. What was the amount of the credit received by the retailer?

Accepted Answer

The answer of A retailer returned 300 defective items to...

Question 17

Calculate the final answer for the following expression: (53 + 22) ÷ 20

Accepted Answer

A)  5.45 
B)  4.45 
C)  6.45 
D)  7.45 
E)  9.45

Question 18

Carla is paid a semi-monthly salary of $1 870.80. Her regular workweek is 40 hours. Overtime is paid at time and one-half regular pay.
a) What is Carla's hourly rate of pay?
b) What is Carla's gross pay if she worked 7 1/2 hours overtime in one pay period?

Accepted Answer

The answer of Carla is paid a semi-monthly salary of...

Question 19

Noriko's final mark for her Financial Mathematics course was based on four tests with different weightings. Test one counted for 10% of the final grade, test two for 20%, test three for 30% and test four for 40%. If Clara received 70% on test one, 85% on test two, 64% on test three and 72% on test four, calculate her final mark.

Accepted Answer

The answer of Noriko's final mark for her Financial Mathematics...

Question 20

Three workers worked 10  , 15  , 20  hours respectively. What was the total cost of labor if the workers were paid $20.00 per hour?

Accepted Answer

The answer of Three workers worked 10  , 15...

Exam 1: Review of Arithmetic

Corrine Davis had gross earnings of $937.50 for the week. If she receives a base salary of $664.00 on a quota of $7800.00 and a commission of 6.75% on sales exceeding the quota, what were Corrine's sales for the week?

Extend and total the following invoice. Quantity Description Unit Price Amount 77 Item A $0.65 208 Item B $83 621 Item C $1.19 414 Item D $1.95 Total __

Emily's residence is assessed by the local taxation department at $249 500.00. Calculate the property taxes paid on this property if the existing mill rate is 15.

Purchases of an inventory item during last month were as follows: Number of items Unit price 5 $5.00 10 $8.00 8 $6.00 15 $3.00 What was the weighted average price per item?

Calculate the weighted-average cost of the following inventory purchases: Date Quantity Purchased Cost per Unit Total Amount May 4 33 $12.25 May 11 41 $13.87 May 29 37 $11.99

A store located in Penticton, B.C., sells a computer for $2 975.00 plus HST. If the same model is sold at the same price in a store in Thunder Bay, Ontario, what is the difference in the prices paid by consumers in the two stores?

Simplify:

Alicia Helm of Wawanesa, Manitoba, bought a ring for $5 700. Since the jeweler is shipping the ring, Alicia must pay a shipping charge of $30.00. She must also pay PST and GST on the ring. Find the total purchase price of Alicia's ring.

Sean's residence is assessed by the local taxation department at $160 000. Calculate the property taxes paid on this property if the existing mill rate is 20.

Change 0.2% into a fraction.

A salesperson receives a weekly base salary of $800.00 on a quota of $2 900. On the next $2100, she receives a commission of 14%. On any additional sales, the commission rate is 19%. Find her gross earnings for a week in which her sales total $8455.

Barb's Home Income Tax business operates only during tax season. Last season Barb grossed $38790 including GST. During that season she spent $9 500 before GST on her paper and supply purchases. How much does Barb owe Revenue Canada for GST?

Evaluate: 395(2 + .15 ∗ 290/365)

A retailer returned 300 defective items to the manufacturer and received a credit for the retail price of $0.75 less a discount of 1/3 of the retail price. What was the amount of the credit received by the retailer?

Calculate the final answer for the following expression: (53 + 22) ÷ 20

Carla is paid a semi-monthly salary of $1 870.80. Her regular workweek is 40 hours. Overtime is paid at time and one-half regular pay. a) What is Carla's hourly rate of pay? b) What is Carla's gross pay if she worked 7 1/2 hours overtime in one pay period?

Three workers worked 10 , 15 , 20 hours respectively. What was the total cost of labor if the workers were paid $20.00 per hour?

Exam 1: Review of Arithmetic

Corrine Davis had gross earnings of $937.50 for the week. If she receives a base salary of $664.00 on a quota of $7800.00 and a commission of 6.75% on sales exceeding the quota, what were Corrine's sales for the week?

Extend and total the following invoice. Quantity Description Unit Price Amount 77 Item A $0.65 __________ 208 Item B $83 __________ 621 Item C $1.19 __________ 414 Item D $1.95 __________ Total __________

Emily's residence is assessed by the local taxation department at $249 500.00. Calculate the property taxes paid on this property if the existing mill rate is 15.

Purchases of an inventory item during last month were as follows: Number of items Unit price 5 $5.00 10 $8.00 8 $6.00 15 $3.00 What was the weighted average price per item?

Calculate the weighted-average cost of the following inventory purchases: Date Quantity Purchased Cost per Unit Total Amount May 4 33 $12.25 May 11 41 $13.87 May 29 37 $11.99

A store located in Penticton, B.C., sells a computer for $2 975.00 plus HST. If the same model is sold at the same price in a store in Thunder Bay, Ontario, what is the difference in the prices paid by consumers in the two stores?

Simplify:

Alicia Helm of Wawanesa, Manitoba, bought a ring for $5 700. Since the jeweler is shipping the ring, Alicia must pay a shipping charge of $30.00. She must also pay PST and GST on the ring. Find the total purchase price of Alicia's ring.

Sean's residence is assessed by the local taxation department at $160 000. Calculate the property taxes paid on this property if the existing mill rate is 20.

Change 0.2% into a fraction.

A salesperson receives a weekly base salary of $800.00 on a quota of $2 900. On the next $2100, she receives a commission of 14%. On any additional sales, the commission rate is 19%. Find her gross earnings for a week in which her sales total $8455.

Barb's Home Income Tax business operates only during tax season. Last season Barb grossed $38790 including GST. During that season she spent $9 500 before GST on her paper and supply purchases. How much does Barb owe Revenue Canada for GST?

Evaluate: 395(2 + .15 ∗ 290/365)

A retailer returned 300 defective items to the manufacturer and received a credit for the retail price of $0.75 less a discount of 1/3 of the retail price. What was the amount of the credit received by the retailer?

Calculate the final answer for the following expression: (53 + 22) ÷ 20

Carla is paid a semi-monthly salary of $1 870.80. Her regular workweek is 40 hours. Overtime is paid at time and one-half regular pay. a) What is Carla's hourly rate of pay? b) What is Carla's gross pay if she worked 7 1/2 hours overtime in one pay period?

Three workers worked 10 , 15 , 20 hours respectively. What was the total cost of labor if the workers were paid $20.00 per hour?

Extend and total the following invoice. Quantity Description Unit Price Amount 77 Item A $0.65 208 Item B $83 621 Item C $1.19 414 Item D $1.95 Total __