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Business Math Exam 9
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Business Math Exam 9
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25 Questions

1. G’s Soft Toys needs 1,200 more square feet of storage space in its distribution center. The store is willing to pay $9,000 a year for this space. What is the monthly rent G’s is willing to pay?
2. Lisa had a balance of $541.82 in her checking account. She wrote a check for $27.19. What is her new balance?
3. The card store purchased 5 new card-display racks for a total cost of $4,625. The racks have an estimated life of 5 years. The salvage value for each rack is expected to be $45. Using the straight-line method, what is the total annual depreciation?
4. Aretha Morgan runs a janitorial service that contracts directly with owners of large office buildings. One building has 4,225 square feet per floor and 32 stories of office space. Morgan’s rate for janitorial services is $5.35 per square foot annually. To the nearest cent, what is the monthly charge for cleaning this office building?
5. A worker provides child care in his home. He charges $5 per hour per child. On one day he cared for Amy for 3 hours, Joshua for 4 hours, Jasmine for 4 hours, and Kaylee for 6 hours. What was his total pay for that day?
6. Nellie’s monthly budget allows her to spend $150 for entertainment. In February she spent $27. What is the difference between the budgeted and actual amounts?
7. The monthly electricity usage for Ramirez Photo Studio is 2,135 kilowatts, and the fuel adjustment charge is $0.0155 per kilowatt hour. The energy charge for the first 1,000 kilowatt hours is $0.077 per kWh. The cost for remaining kilowatt hours is $0.059 per kWh. What is the total cost of electricity?
8. A car lists for $17,465 and has $700 of options. The dealer’s cost is 89% of the list price and 86% of the options. The destination is $690. What is the dealer’s cost?
9. Divide 19.76 by 0.227. Round the answer to 3 places.
10. Clarence rents out commercial real estate. He earns 2 percent commission on the first $25,000 in rentals, 4 percent on the next $25,000, and 8 percent on rentals over $50,000. Last month he was responsible for $118,000 worth of rentals. What was his total commission?
11. Fine Gifts hired Raul’s Remodeling to paint their new store. Since the job was done over a weekend, the painters were paid time and a half. They normally receive $25 per hour. Four painters worked 19 hours on the project. They used 38 gallons of paint. Each gallon of paint costs $27.50. What was the total charge for painting the new store?
12. The Arctic Omega Health Foods Co. plans to operate a kiosk in an upscale shopping mall. The space the kiosk will occupy is 17 feet by 22 feet. The monthly rental charge is $413.00. What is the annual price per square foot?
13. A cook measures 5 cups of flour for bread, 4 cups for cookies, and 3 cups for pancakes. If this amount could be taken from the bag every day for seven days before it was empty, how many cups of flour were in the bag?
14. Cindy works at the Medical Institute 2 days each week. If she works from 6:15 – 4:45 on Tuesday and from 6:15 – 5:15 on Thursday, what are her total hours for the week? (Cindy gets a half hour lunch break that she is not paid for each day she works more than 5 hours.)
15. The bakery purchased a new oven at a cost of $1,200. The estimated life of the oven is 10 years and the salvage value is $300. What is the book value for the oven at the end of the first year?
16. A cabin tent retails for $899.95. Included in the retail price is $75.00 for advertising. What percent of the retail price of the tent is for advertising?
17. The coin shop had sales this month of $35,758 and returned merchandise of $4,500. Cost of goods sold was $12,000 and total operating expenses were $7,453. Find the gross profit on sales.
18. A worker makes $3,500 for one month’s pay. Total deductions for taxes, insurance, etc., amount to $540. Rent is $880; food is $320; car expense is $290; utilities cost $85. How much money remains at the end of the month after these expenses are paid?
19. Tony budgeted $4,550 to buy a car for his son. He spent $6,788. What was the difference in his budgeted and actual amount spent?
20. James borrowed $200,000 to purchase a new office building at 5 percent ordinary interest for 120 days. Find the maturity value of the loan.
21. If an automated welding machine can produce 35 welds in one hour, how many welds can be produced in a 24-hour period?
22. Someone makes a salary of $2,400 per month. If they are paid every week, what is their gross pay per pay period (to the nearest dollar)?
23. Jocelyn works as a hair stylist and earns $10.50 per hour. She worked 18 hours in one week and 24 hours the next week, what is her pay for the two weeks?
24. Total assets are $98,000 and total liabilities are $49,000. Find the current ratio of assets to liabilities.
25. Assets are $13,000 cash and $78,000 merchandise. Owner’s equity is $35,000. Find the amount of liabilities.

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