East-West College Business Mathematics Exam: 50% Student Name: Mohammad Araibi Student ID: 21-BA-09-WK-1577 Email: XXXXXXXXXX (Questions 1-7 for 1 mark and 8-11 for 2 marks) Q 1. Use a dot notion...

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East-West College Business Mathematics Exam: 50% Student Name: Mohammad Araibi Student ID: 21-BA-09-WK-1577 Email: [email protected] (Questions 1-7 for 1 mark and 8-11 for 2 marks) Q 1. Use a dot notion above the repeating digits: 0.77777 = 0.77 (Check answer) Q 2. Calculate: 8 (3*8+2)/3= 26/3 Q 3. Use a horizontal line above the repeating digits: 0.95959595 = 0.95 (Check answer) Q 4. Rounding: 13.9438 = 13.944 = 13.94 Right = 13.9 = 14 Q 5. Rounding: 7.385 = 7.39 right = 7.4 = 7 Q 6. Revenue: $7000 and Total cost: $ 3449. What is Profit? Profit = Revenue – Total cost = $7000 - $3449 = $3551. Q 7. Fixed Cost: $2,000, Variable Cost: $3100 and Profit 2134. What is Revenue? We know, profit = Revenue – Fixed Cost – Variable cost Therefore, Revenue = Profit + Fixed cost + Variable Cost Revenue = $2134 + $2000 + $3100 = $7234. Q 8. Sale price per unit $ 400, Variable cost $270 and Fixed cost $ 157,000. What is CM Ratio? Contribution Margin Ratio = Contribution Margin per unit/Sale price per unit And contribution Margin = Sale price per unit – Variable cost per unit Contribution Margin = $400 - $270 = $130 Contribution Margin Ratio = $130/$400 = 32.5% Q 9. What if Fixed cost $ 157,000 increased by 14%? An increase in Fixed Costs does not affect Contribution Margin, But the fixed cost would increase from $157,000 to $178,980. Q 10. Calculate amount $5700 with 5% G.S.T. 5700 + 5% GST = $5700 + $285 = $5,985. Q 11. $5798 is including amount and 5% G.S.T. What is the amount without G.S.T.? $5,798 including 5% GST. GST amount = $5798/105*5 = $276.1. Amount excluding 5% GST = 5798/105*100 = $5521.9 Q 12. Determine the net price of an article listed at $590 less 37.5%, 12.5%, and 7.5% by using simple discount formula and single equivalent rate of discount for series. (Marks 5) Net price of $590 less 37.5%, 12.5% and 7.5% $590 – 37.5% = $368.75 $368.75 – 12.5% = $322.66 $322.65625 – 7.5% = $298.46. Single equivalent rate = 100 – (100 – 37.5) * 12.5% * 7.5% = 49.41% (approx). Q 13. What rate of discount has been allowed if an item that lists for $270 is sold for $168.75? (Marks/2) Discount = (List price – Selling price) / List price = (270 – 168.75)/270*100 = 37.5% Q 14. What is the listed price if Amount of discount is 2780.80 and Rate of Discount is 31.6%? Marks/2) List price = Discount Amount/Rate of discount = 2,780.80/31.6% = $8,800 Q 15. What is the profit% if sale price is 550 and cost is $420? Marks/2) Profit (%) = (Sale price – cost price) / Cost price = (550 – 420) / 420 = 30.95% Q 16. Sales Price is $900 and rate of profit is 20%. What is cost? (Marks 2) Sale price = $900 Profit % 20% Cost price = Sale price / (100+Profit) * 100 = 900/120*100 = $750. Q 17. Amount $ 5,680 is including 5% G.S.T. What was the amount before the GST was added? (Marks 3) Amount with 5% GST = $5680 Amount without GST = $5680/105 * 100 = $5409.52 Q 18 . Bill receives a commission of 13.5% on his net sales and is entitled to an advance of up to $3000 per month. During August, Jim’s gross sales amounted to $37,057.00 and sales returns and allowances were $1260. (Marks/10) 1. What are Bill’s net sales for August? Net sales for august = Gross sales – sales return = $37,057 - $1,260 = $35,797. 2. How much is his commission for August? Commission at 13.5% = 13.5% * $35,797 = $4,832.60 3.If Bill drew $ 900 in August, what is the amount due to him. Amount due to bill = commission due – advance drawn = $4,832.60 - $900 = $3,932.60 Q 19 . Calculate (Marks 2) = 5*5*5*5*5*5*5 = 25*25*25*25 = 625*125 = 78125 Q 20. Calculate ((Marks 2) ( = -2*-2*-2*-2*-2*-2*-2 = 4*4*4*-2 = 16 * -8 = -128 Q 21. Convert USD 20 to CAD if $1 United States Dollar equals $1.4763 Canadian Dollar(Mark 1) USD 1 = CAD 1.4763 USD 20 = $1.4763 * 20 = CAD 29.526 Q22. Compute amount of interest for $ 5000 at p.a 3.5% for 3 months. (Marks 2) Simple interest = (principal * Rate * Time)/100 = $5,000 * 3.5% * 3/12 = $43.75 Q 23 Determine the time period if i $ 259, r 3.7% and p $7000. (Marks 2) Time period when interest $259, Rate of interest = 3.7% and principal = $7,000 Time = Interest / (principal * Rate) = $259/ ($7,000 * 3.7%) = $259 / $259 = 1 year. EastWest College Business Mathematics Assignment 1. Grades 35% Due on Nov 19th, 2021 GK Ltd. produces a flat-screen TV. The sales price per unit is $700, the variable cost per unit is $ 409 per unit and the monthly fixed cost is $162,960 1. What is the CM Ratio? CM Ratio (Contribution Margin Ratio) = (Total Revenue – Total Variable cost ) / Total revenue. Total Revenue $700 Total Variable cost $409 Contribution $ 291 Contribution Margin $0.42. ( Check the answer) 2. What is the Breakeven Point in Sales $? Breakeven point in sales = Fixed cost/contribution margin. Fixed Cost $1,62,960.00 Contribution Margin $0.42 Break even sales $3,88,000.00. ( Check the answer) 3. What if SP (Sales Price) increases by 12%? Calculate new breakeven point in units and sales $. Breakeven point in sales = Fixed cost/contribution margin. Breakeven point in Units = Fixed cost / contribution Sale 748 Variable cost 409 Contribution 375 Contribution Margin 0.48( Check the answer) Fixed cost 1,62,960.00 Break-even in units 434.56 Break-even in sales 3,40,695.04 ( Check the answer) 4. What if FC (Fixed Cost) increases 20%? Calculate new breakeven point in units and sales $. Sales 748 Variable cost 409 Contribution 375 Contribution Margin 0.48 ( Check the answer) Fixed cost 1,62,960.00 Break-even in units 434.56 Break-even in sales 3,40,695.04 5. How many units must GK Ltd. sell to make profit $ 20,000? Unit sold to achieve the desired level profit in units = (Fixed Cost + Desired Profit) / contribution per unit. Fixed Cost $1,62,960.00 Desired profit $20,000.00 Contribution per unit 375 Unit to sell to achieve desired profit 488 6. GK Ltd. sells bike for $784 per unit and wants to increase its sales by giving a series of discounts 20% on purchase over 10 bikes, 10% promotional discount and 5% Christmas discount. (Order received for 15 bikes). Use the simple trade discount formula and Single equivalent rates of discount Single equivalent discount = 1 – (1- (d1/100))* (1-(d2/100))*(1- (d3/100)) = 1- (1-(20/100)) *(1-(10-/100)) *(1-(5/100)) = 1- (0.8) *(0.9) *(0.95) = 1-0.685 = 0.315 = 31.5% discount 7. GK Ltd. manufacture bikes that cost $620. Using a cost-plus approach, add a 25% markup to the cost of bikes sold Cost per unit $620.00 Add: markup 25% 155 Selling price $775.00 8. GK Ltd. charges its customers $784 for per bike and cost per bike is $620. Calculate Profit percentage The selling price of a bike is $784.00 Cost per unit $620 Profit $164.00 Profit percentage 26.45%
Answered Same DayDec 02, 2021

Answer To: East-West College Business Mathematics Exam: 50% Student Name: Mohammad Araibi Student ID:...

Akshay Kumar answered on Dec 03 2021
112 Votes
EastWest College
Business Mathematics
Assignment 1.
Grades 35%
Due on Nov 19th, 2021
GK Ltd. produces a flat-screen TV. The sales price per unit is $700, the variable cost per
unit is $ 409 per unit and the monthly fixed cost is $162,960
1. What is the CM Ratio?
CM Ratio (Contribution Margin Ratio) = (Revenue per Unit –Variable cost per Unit) / Revenue per Unit
Revenue per Unit $700
Variable cost per Unit $409
Contribution per Unit $ 291
Contribution Margin = $ 291/$700 = 41.57% ( Check the answer)
2. What is the Breakeven Point in Sales $?
Breakeven point in sales = Fixed cost/contribution margin.
Fixed Cost $1,62,960.00
Contribution Margin 41.57%
Break even sales = $1,62,960.00/41.57% = $392,000.00. ( Check the answer)
3. What if SP (Sales Price) increases by 12%? Calculate new breakeven point in units and sales $.
Breakeven point in sales = Fixed cost/contribution margin.
Breakeven point in Units = Fixed cost / contribution
Sale = $700*(1+0.12) = $700*1.12 = $784
Variable cost 409
Contrib    ution = $784 - $409 = $375
Contribution Margin = $784/$375 = 47.83% ( Check the answer)
Fixed cost 1,62,960.00
Break-even in units 434.56
Break-even in sales = $1,62,960.00/47.83% = $3,40,695.04 ( Check the answer)
4. What if FC (Fixed Cost) increases 20%? Calculate new breakeven point in units and sales $.
Sales 700
Variable cost 409
Contribution 291
Contribution Margin 41.57% ( Check the answer)
New Fixed cost 1,62,960.00*1.20 = $195,552.00
Break-even in units = Fixed Cost/Contribution = $195,552.00/$291= 672 units
Break-even in sales = $195,552.00/41,57% = $470,400
5. How many units must GK Ltd. sell to make profit $ 20,000?
Unit sold to achieve the desired level profit in units = (Fixed Cost + Desired Profit) / contribution per...
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