MAT 115 WEEK 4 HOMEWORK ASSIGNMENT
Solve the following problems showing your work. You may copy & paste the problems on your word processor. Each problem 4 points, total 100 points.
Solve the following problems.
1. 187 textbooks is 11% of how many textbooks?
2. What is 40% of 6220?
3. 30 is what percent of 2000?
4. What is 3/5% of $690?
5. Find the fractional equivalent of 45%.
6. A stock selling for $19 per share pays a 9% dividend. Find the dividend per share.
7. Office furniture is offered at 17% off the manufacturer- suggested retail price of $1198. Find the discount and the sale price of the furniture.
8. The Riverview Cafe had a bank balance of $31,365.14 at the beginning of January. During the month, the firm made deposits of $3614.25, $1086.10, $87.32, and $211.67. A total of $13,984.18 in checks was paid by the bank during the month. Find the restaurant- checking account balance at the end of January.
Complete the following payroll ledger. Find (a), (b), and (c) for each employee. Time and a half is paid on all hours over 40 in one week.
Employee Hours Worked Reg. Hr. O.T. Hr. Reg. Rate Gross Earnings
9. Ewert 62 (a) (b) $15.75 (c)
10. Fresno 51.5 (a) (b) $6.00 (c)
Find the federal withholding tax using the wage bracket method for each of the following employees.
11. T. Markey: 3 withholding allowances, married, $3177 monthly earnings.
12. A. Belsman: 0 withholding allowance, single, $1020 monthly earnings.
13. Find the net pay for F. Stensen if the FICA rate is 6.2%, Medicare rate is 1.45%, and state disability rate is 1%. Stensen has not earned over $105,000 so far this year. Stensen had monthly earnings of $3124.86, has 1 withholding allowance, is single, and has $62 in other deductions. Use the percentage method of withholding.
Find the net cost (invoice amount) for the following. Round to the nearest cent.
14. List price: $72.10 less 15/10.
15. List price: $862 less 10/20/5.
Find (a) the net cost equivalent and (b) the single discount equivalent for the following series discounts.
16. 20/10
17. 15/20/15
Find the final discount date for the following.
Invoice Date Terms ___Date Goods_
18. September 14 2/15 ROG October 20 30
19. August 3 4/15-40 extra August 12 31
20. April 3 2/10 EOM April 17 32.
Solve for (a), (b), and (c).
21. (a) C (c)
(b) M_ $45
100% S $360
22. 100% C $475
15% M_ (b)_
(a) S (c)
23. (a) C (b)
20% M_ (c)
100% S $499
Complete the following (a), (b), and (c). If there is no operating loss or absolute loss, write “noneâ€Â.
Operating Break-even Reduced Operating Absolute
Cost Expense Point Price Loss Loss__
24. $16 $3.25 (a) $13 (b) (c)
25. $4.50 (a) $5.25 3.75 (b) (c)
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