Chapter 1 Review Question Solutions

  1. October November December
    a. $2,000 $9,000 $25,000
    b. 5.00% 15.25% 22.94%
  2.             Burnaby Downtown Richmond Surrey
    $2,425.15 $1,781.44 $2,574.85 $3,218.56
  3.     East West
    a. Gross Profit $8,000 $9,000
    Net Profit $5,000 $5,000
    b. Gross Margin 40% 36%
    Net Margin 25% 20%
  4. Sales $730,000
    COGS 452,600
    Gross Profit 277,400
    Operating Expenses 197,100
    Net Profit 80,300
    1. $12,000,
    2. 40%
    3. 28.57%
    1. 3158 CAD = 1.00 USD
    2. 0.203947 CAD = 1 Krone
    3. 10,000 Krones =2,039.47 CAD
    4. 500 CAD = 2,451.61 Krones
    1. August 16, 2018
    2. $5,665.00
    3. June 27, 2018
    4. $163.71
    5. $5501.29
    1. 43%
    2. 44%
  9. 66.67%
  10. 13.7255%
    1. November 16
    2. $3,230.00
    3. October 27
    4. $3,138.20
    5. $1,546.39
  12. Alpha α Beta β Gamma γ
    a. 20.00% 34.2857142% 45.7142857%
    b. $1,000,000 $1,714,285.71 $2,285,714.29
    c. $1,163,265.31 $1,551,020.41 $2,285,714.29
    1. Gross Profit= $18,000, Net Profit= $13,000
    2. 25%
    3. 14,44%
  14. A: $1,300          B: $1,560         C: $3,250
  15. Branch I = $180,000; Branch II = $400,000; Branch ID= $300,000
  16. $3.98 CAD/liter
  17. $0.79 CAD/liter
  18. $588
  19. $722.65
  20. $1,176.00
  21. $1,438.46
    1. June 15th
    2. N = $3,456.12
    3. $3,526.65 – $2,551.02 = $975.63
  23. $5,758.76
  24. $1,275.51 is credited and a total of $2,474.49 is paid
  25. $408.16 + $404.04 = $812.20 is the credit and $387.80 is still owing.
  26. $2,303.07
  27. $4,306.50
  28. Debt: $1,500,000 C/S: $1,200,000 P/S: $600,000
    1. $450,000; L: $562,500;  S: $487,500
    2. N: 15,000 students L: 26,786 students S:23,214 students
  30. Alan: $150,000; Barbara: $132,500 Chuck: $97,500
  31. Sales: $150,000; Fin: $75,000; Admin: $37,500 (same for R & D)
  32. Alicia: $5,125; Bob: $3,250; Charles: 0; Diana: $1,625
  33. $375,000
  34. N = $1,065.90 D = 51.6%
  35. 60%
  36. 5%
  37. L = $650.00; D = 34.525%
  38. $152.16, 43.5%
  39. Mfg A: Total discount= 47.864%; Mfg B: Total discount= 52.15% (B is larger)
  40. more than 4.76%
  41. 4.8%
  42. 33.33%
    1. N = $382.50
    2. 23.5%
    3. 4.575%
    1. $306
    2. 23.5%
    3. $d_3 = 8.50%$
    4. $350
  45. $70/bag
  46. £549.40
  47. 0.856959 USD/quart, so $0.86 USD/quart
  48. 1.11 CAD/can
  49. 1.76 USD/gallon, so cheaper in Canada
  50. 0.30 CAD/Liter
  51. Cost Sales Price Markup in dollars % Markup % Margin
    $125 $175 $50 40% 28.57%
    $75 $95 $20 26.67% 21.05%
    1. Cost = $2,992.50
    2. 10.24%
    3. 9.29%
    1. $415.63
    2. $311.72
    3. 25%
    1. $19.50
    2. $18.75
    3. $3,090 gross profit, $1,965 net profit
  55. 33.33%
    1. C = $250
    2. S = $300
    3. % margin = 16.67%
  57. C = $2,142.86, percent margin= 52.4%
  58. $348.36
  59. Markup = $1,239.13  NP= $1,049.13
  60. 76.99%
    1. $112.50
    2. $96.00
  62. $240.00
  63. $250
  64. $50
  65. C = $7.00,  % margin=  14/21 = 66.67%
  66. C = $500, S = $600, % margin = 16.67%
  67. $1,360.00
  68. $72.07

 

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