Name: ____________________________
Section:____________________________
Total: ___________/100pts
Application of Fractions/Formulas/Percents/P=RxB
These come from your Pearson textbook. Mathematics for Business IBSN XXXXXXXXXX3 I have re-typed them and eliminated some of the original parts.
SHOW ALL WORK
The annual operating expenses for Woodline Moldings and Trim are shown below. Use this information to answer the questions that follow: _____/ 13 ( 1pt each blank)
Expenses Item
Monthly Amount
Annual Amount
Fraction of Total
Salaries
$15,000
Rent
$9,000
Utilities
$3,000
Advertising
$2,250
Insurance
$2,250
Miscellaneous
$4500
Total Expenses
$
a. Fill in the annual amount for each item. Remember that annual means 12 months.
. Find the sum of the annual amounts column to find the total expenses.
c. Find the fraction of the total for each expense. Remember that fraction = part/whole. Please reduce to lowest terms.
The average selling price of a book at Discount Books is $ XXXXXXXXXXTypically, just 7/10 of this amount goes to pay for the cost of the book, including shipping and handling. Monthly expenses at Discount books are:
Salaries with Benefits $8500 includes owner’s salary
Rent and Utilities $2100
Janitorial $350
Other $1620
These definitions may help you:
Gross Revenue is the total of all revenue from all sales.
Breakeven is the point at which total revenues equals cost of goods sold plus total expenses.
Profit, or net profit, is the amount left over after all expenses have been paid.
Percents are parts out of 100, so 7/10 is 70 parts out 100 equal parts, or 70%.
a. Find the total monthly expenses. _____/3
. If 7/10 of the revenues is used to pay for books, what fraction of the revenue remains?
____/ 3
c. Write an equation for monthly net profit. Net Profit is gross revenue from the sale of books less monthly expenses. Use N for the number of books sold each month.
___/ 5
d. How many books must the store sell to
eak even? Round to the nearest whole number? ____/4
e. What happens if the store does not sell enough books to
eak even one month? ___/4
f. How many books must the store sell to reach a profit of $6000 over and above all expenses in a month? Round to the nearest whole number. XXXXXXXXXX____/4
McDonalds is a successful company that has stores in more than 115 countries. In fact, managers predict that at some point in the future as much as 80% of company profits will be from countries other than the United States. In 2012, the chain had about 31,000 stores, and managers expect total revenue of over $25 billion. Now that is a lot of hamburgers, or actually veggie burgers in India! Most people in India are vegetarians, so when McDonald’s goes to India the menus are radically changed.
a. Estimate the average sales per store to the nearest dollar. Think about total revenue and number of stores. This is similar to the stock problem we did XXXXXXXXXX_____/3
. Use the average sales per store found in part (a) and write an alge
aic expression for total revenue if managers add N stores next year. Assume that the average sales for all of the stores remain the same and that none of the stores are closed XXXXXXXXXX____/5
c. Estimate the revenue for McDonald’s if the revenue is increased by 1/5 in 2 years. ___/3
d. List the pros and cons of working at a fast-food restaurant such as McDonald’. Why might upper management not want to hire someone to manage a store unless he or she has worked in one? (100 word minimum response) XXXXXXXXXX____/10
You are the regional manager for the Bicycles R Us for Maryland. You are given the information from all 10 of your store, their sales last year. this year, and % change from last year, in your region. Please use your knowledge of increase/decrease to find the missing values in the chart. This is similar to the stock exchange problem. After you have done this please answer the questions about the completed chart. XXXXXXXXXX____/ XXXXXXXXXXpts each blank)
Store #: location
Sales Last Yea
Sales This Yea
% change from last year.
#1 Frederick, MD
$145,123
$220,450
#2 Baltimore, MD
$215,950
22.8%
#3 Oxon Hill, MD
$124,600
15.5 %
#4 Prince Frederick, MD
$345,000
25.7%
#5 Frostburg, MD
$178,900
35.6%
#6 Annapolis, MD
$101,800
· 12.5%
#7 Brunswick, MD
$145,380
$120,000
#8 La Plata, MD
$123,000
$180,000
#9 Ocean City, MD
$189,400
· 26.7%
#10 Havre de Grace, MD
$115,800
15.9%
You are reviewing the sales report and need to make some decisions about which stores to keep open and operating. XXXXXXXXXX____/8 (4 pts each)
a. You need stores to maintain an operating sale of $130,000. Which stores would you close after receiving this report?
. The top 3 stores receive bonuses for being highest in their region. Which 3 stores would you give the bonus to? The bonus is 20% of their sales. Please also tell me what each store will be receiving in bonus money
Please answer each of the following problems using your knowledge from chapters 1,2, and 3. Mathematics for Business IBSN XXXXXXXXXX3
1.) One day on the London Stock Exchange, Unilever’s stock shares increased from 12.3 pence to 449.5 pence. Find the percent of increase
1. The Small business Administration (SBA) guaranteed 42,500 loans this year, compared with 40,100 loans last year. Find the percent of increase in the number of loans guaranteed.
2. The number of business failures this year was 64,031, compared with 64743 business failures last year. Find the percent decrease.
3. Last year, Get Wired Company sold 7038 laptop computers. If this was 56% of its total computer sales, find the total number of computers sold.
4. Please solve the following using order of operations. Note: the 12(5) is an exponent and you need to multiply these numbers first.
= =
______/ XXXXXXXXXXpts each)