Contemporary Business Mathematics with Canadian Applications 12th edition by S A. Hummelbrunner test

Answer: Let the regular rate of pay be y.
Regular weekly pay = 37.5y
Overtime pay = (9.75 × 1.5)y = 14.625y
Total pay = 37.5y + 14.625y = 750.7
52.125y = 750.73
y = 14.40
The regular rate of pay is $14.40
43) Ali checked his pay stub on his employee portal and it showed gross earnings of $596.00 for 51 hours of work.
What is his hourly rate of pay if the regular workweek is 40 hours and overtime is paid at time and one- half the
regular rate of pay?
Answer: Total hours  = 51
Regular hours  = 40
Overtime hours  = 11
At time- and-a- half, overtime hours are equivalent to
11 × 1.5 = 16.5 regular hours
Rate of pay = 596/56.5 = $10.55
44) Barb's Home Income Tax business operates only during tax season. Last season Barb grossed $38 790 including
GST. During that season she spent $9500 before GST on her paper and supply purchases. How much does Barb
owe Revenue Canada for GST?
Answer: Barb's revenue of $38 790 includes 5% GST.
GST taxable revenue =
38790
1.05
= 36 942.86
GST collected = 5% of 36 942.86 = 1 847.14
GST paid = 5% of 9 500 = 475.00
Barb owes Revenue Canada $1847.14 - $475 = $1372.14
45) "Save the tax" is a popular advertising tactic. How much would you save on the purchase of a sweater with a
list price of $52.00 in a Manitoba store during a "Save the PST" promotion?
Answer: Savings on PST = 7% of $52.00 = 0.07(52.00) = $3.64
46) A retail chain sells snowboards for $855.00 plus GST and PST. What is the price difference for consumers in
London, Ontario, and Lethbridge, Alberta?
Answer: Total cost in London
Retail price  = $855.00
HST = 13% of $855.00 = 0.13(855)  $111.15
Total cost in London = $966.15
Total cost in Lethbridge
Retail price  = $855.00
GST = 5% of $855.00 = 0.05(855) $42.75
PST  nil
Total cost in Lethbridge  $897.75
Difference = PST $68.40
47) Emily's residence is assessed by the local taxation department at $249 500.00. Calculate the property taxes paid
on this property if the existing mill rate is 15.
Answer: 249500 ×
15
1000
= $3742.50
48) Calculate the property tax on a property located in the City of Brampton and assessed at $326 500 if the current
tax rate is 1.05351%.
Answer: Property tax = $326 500 × 1.05351/100 = $3439.71
49) Sean's residence is assessed by the local taxation department at $160 000. Calculate the property taxes paid on
this property if the existing mill rate is 20.
Answer: 160 000 ×
20
1000
= $3200.00
50) The town of Pandora assesses property at market value. How much will the owner of a house valued at
$325 000 owe in taxes if this year's mill rate has been set at 21.386?
Answer: Property tax = 32500
21.368
1000
= $6950.45
51) A town has an assessed residential property value of $350 000 000. The town council must meet the following
expenditures:
Education: $11 050 000
General Purposes: $2 100 000
Recreation: $270 000
Public works: $670 000
Police and fire protection: $857 500
a) Suppose 70% of the expenditures are charged against residential real estate. Calculate the total property
taxes that must be raised.
b)  What is the mill rate?
c)  What is the property tax on a property assessed at $235 000?
Answer: a) Total expenditure = $(11050000 + 2100000 + 270000 + 670000 + 958500)
= 14947500
Total residential property tax = 0.70(14947500) = $10463250
b) Residential mill rate =
10463250
350000000
(1000) = 29.895
c) Property tax = $235000
29895
1000
= $7025.33
52) Extend and total the following invoice.
Quantity Description Unit Price Amount
77 Item A $0.65 ________
208 Item B $83 ________
621 Item C $1.19 ________
414 Item D $1.95 ________
Total ________
Answer: 77 × 0.65 = $50.05
208 × 0.83 1
4
= 173.16
621 × 1.19 = 738.99
414 × 1.95 = 807.30
$1769.50
53) Denise Jantz invested $35 000 on January 1 in a partnership. She withdrew $5000 on June 1, withdrew a further
$1900 on August 1, and reinvested $6 000 on November 1. What was her average monthly investment balance
for the year?
Answer: January 1 - May 31: 35000 × 5 = 175000
June 1 - July 31: 30000 × 2 = 60000
August 1 - October 31: 28100 × 3 = 84300
November 1 - December 31: 34100 ×
2
12
= 68200
Total 387500
Average monthly investment =
387500
12
= $32 291.67
54) Jessica Hughes invested $40 000 on January 1 in a partnership. She withdrew $15 000 on June 1, withdrew a
further $2000 on August 1, and reinvested $8 000 on November 1. What was her average monthly investment