Reference no: EM133100125

Question 1 - Julio is paid on a graduated commission scale of 5% on the first $20,000 of sales in a month, 7.5% on the next $20,000, and 10% on all additional sales.

a. What is he paid for a month in which his sales are $54,880?

b. What single commission rate on all sales would result in the same earnings for the month?

Question 2 - Jason's gross pay for August is $3296.97 on sales totalling $151,342. If his base salary is $1500 per month, what is his rate of commission on sales exceeding his monthly quota of $100,000?

Question 3 - Daniella's gross monthly earnings are based on commission rates of 4% on the first $40,000 of sales, 5% on the next $50,000, and 6% on all additional sales for the month. What is her sales total for a month in which she earns $5350?

Question 4 - One year ago, Sook-Yin allocated the funds in her portfolio among five securities in the proportions listed below. The rate of return on each security for the year is given in the third column of the table.

Calculate the rate of return for the entire portfolio.

Question 5 - One of the methods permitted by Generally Accepted Accounting Principles (GAAP) 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 part (b).

Question 6 - Alihan's transcript shows the following academic record for four semesters of part-time college studies. Calculate his cumulative GPA at the end of his fourth semester.

Question 7 - Three years ago, when the CPI was at 115.8, the members of a union were earning $22.25 per hour. Now, with the current CPI at 120.2, they are negotiating for a new hourly rate that will restore their former purchasing power. What hourly rate are they seeking?

Question 8 - For the last five years the sales of Departments D, E, and F have maintained a relatively stable ratio of 13:17:21. Department E is forecasting sales of $478,000 for next year. Based on the past sales ratio, what sales would be expected for Departments D and F? Round to the nearest dollar.

Question 9 - The exchange rate between the US$ and the C$ declines from US$1.2158 to US$1.2012 per C$. What will be the change in the C$ price to an importer of a US$2000 item?

Question 10 - A partnership agreement provides that half of the annual profit be distributed in proportion to each partner's investment in the partnership, and that the other half be distributed in proportion to the total number of hours that each partner worked in the business during the year. How should the most recent year's profit of $84,780 be allocated if the amounts invested by Huey, Dewey, and Louie are $70,000, $30,000, and $45,000, and their hours of work for the year were 425, 1680, and 1440, respectively?

Question 11 - Mrs. Vanderberg has just deposited $5000 in each of three savings plans for her grandchildren. They will have access to the accumulated funds on their 19th birthdays. Their current ages are 12 years, 7 months (Donna); 10 years, 3 months (Tim); and 7 years, 11 months (Gary). If the plans earn 8% compounded monthly, what amount will each grandchild receive at age 19?

Question 12 - A debt of $7000 accumulated interest at 9.5% compounded quarterly for 15 months, after which the rate changed to 8.5% compounded semiannually for the next six months. What was the total amount owed at the end of the entire 21-month period?

Question 13 - A loan of $4000 at 7.5% compounded monthly requires three payments of $1000 at 6, 12, and 18 months after the date of the loan, and a final payment of the full balance after two years. What is the amount of the final payment?