Unless otherwise stated, round the final answer to 2 decimal places.  

^[1] A jewelry store’s sales and expenses are given below for the months of October, November and December:

1. Find the profits for each
2. Find the percent net margin for each

 

^[2] FST Computer Stores has decided to give a total bonus of $10,000 to its outlets. The bonus will be proportional to the monthly sales (given below) for each outlet. Find the bonus for each outlet.

 

^[3] A-Plus Appliances two branches reported the following results for a one week period:

Sales	East $20,000	West $25,000
COGS	12,000	16,000
Other Expenses	3,000	4,000

1. Find the gross and net profits for each branch.
2. Find the percent gross margin and percent net margin for each

 

^[4] Joan’s Co. knows that, nationwide, companies in its industry earn, on average, a percent gross margin of 38% and a percent net margin of 11%.  Joan’s Co. forecasts sales of $730,000 next year. If it aims at the same profit ratio as the nationwide average, estimate Joan’s cost of goods, gross profit and net profit.

 

^[5] Jim’s Co. sees that its competitor sells an article for $42.00. It knows that the competitor pays $30.00 for the article.

1. What is the competitor’s markup (dollar amount)?
2. What is the competitor’s percent markup?
3. What is the competitor’s percent gross margin?

 

^[6] At one time the exchange rate for the Canadian dollar was: 1 CAD = 0.76 USD

For the Danish krone the rate was: 1 krone= 0.155 (USD)

1. Find the value of $1 USD in terms of Canadian dollars (4 decimal places).
2. Find the value of one Danish krone in terms of Canadian dollars (6 decimal places).
3. How much would it cost (in Canadian dollars) to purchase 10,000 krones (2 decimal places)?
4. How many krones can be purchased for $500 Canadian (2 decimal places)?

 

^[7] JB Appliances received an invoice which contained the following information:

• Date, June 17, 2018 Items:
• 10 Refrigerators; list $710 each, less 25%, 20%
• 5 Dryers; list $420 each, less 25%, 20%, 5% (special sale)
• Freight charge $208
• Payment terms 3/10 net 60

Find:

1. 1. The last day for payment.
   2. The amount due if the invoice was paid on the last day.
   3. The last day at which the cash discount is available.
   4. The amount of discount allowed on the day in (3).
   5. The amount to pay off the invoice on the day in (3).

 

^[8] Mac’s Wholesale buys from a distributor which allows discounts of 25%, 20% and 5%.

1. What single discount (called the single equivalent discount) would be equivalent to the above discounts?
2. Compare the above discounts to discounts of 30%, 20%.

 

^[9] A branch of Jack’s Hardware has been told by its head office to sell goods at a percent gross margin of 40%. What percent markup should the branch use?

 

^[10]  CHMCO sells a product with discounts of 25%, 15% to its distributors. It plans to allow a seasonal discount to make the overall discount equal to 45%. What additional (chained) discount should CHMCO allow?

 

^[11] Wilson Co. has received an invoice dated October 17 for 5 items with list price $900 each, and for freight of $170. The terms were:

• Trade terms: list less 20%,15%.
• Payment terms: 3/10, n/30.

Find:

1. The last day for payment
2. The amount due if payment is made on the last day
3. The last day for taking a cash discount
4. The amount needed to pay the invoice on the day in (3).
5. If the seller agrees to give a cash discount on a partial payment, how much credit would be applied to the account if $1,500 were paid immediately?

 

^[12] Three companies, Alpha, Beta and Gamma, are the only suppliers to a specialized market. Last year Alpha’s sales were $700,000, Beta’s $1,200,000 and Gamma’s $1,600,000.

1. What was the market share (percent of market) of each company?  Note: retain all decimal places calculated in (1) to solve (2) and (3).
2. If next year’s total market is expected to be $5,000,000 and each company’s share remains the same, what would be the sales of each company?
3. Alpha has an aim of making its sales 75% of Beta’s. With total sales as in (2) and Gamma’s as in (2) what would have to be the sales of Alpha and Beta if Alpha were to make its aim?

 

^[13] Janet’s Co. has sales of $90,000, COGS of 80% of sales and operating expenses of $5,000.

1. Find the gross and net profits.
2. Find the rate of markup (based on cost).
3.  Find the percent net margin.

 

^[14] Jim’s Co. has set a requirement on stock items of a turnover ratio of 2.6 per year. It is examining three stocked items, A, B and C, which have to be bought in large amounts. As a result of the purchasing requirements, the maximum stock for A is $1,000, for B $1,200 and for C $2,500.   If the average stock is assumed to be one-half the maximum stock, what would be the required annual sales of each of these items?

 

^[15] Majjor Oil Co. allocates its maintenance budget to three of its branch offices on the basis (i.e., proportional to) of total floor space. Branch I has 9,000 sq. ft., Branch Il has 20,000 sq. ft. and Branch III has 15,000 sq. ft. If $880,000 is to be allocated, how much should each branch receive?

 

^[16] A paint is advertised for sale with a price of $11.00 USD per gallon. Find the price in CAD/liter if 1 CAD = 0.73 USD

Given:

• 1 liter = 1.0567 quarts
• 1 gallon = 4 quarts

 

^[17] The wellhead price of a certain grade of oil is $69.00 USD per barrel. What is the price in CAD per liter?

• 1 CAD = 0.73 USD
• 1 Barrel = 31.5 US Gallons
• 1 liter = 1.0567 quarts
• 1 US Gallon = 4 quarts

 

(source)