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

time and one- half regular pay.
a) What is Norm's hourly rate of pay?
b) How many hours overtime did Norm work in a pay period for which his gross pay was $946.30?
Answer:
a) Annual salary = 792.50 × 24 = 19020.00
Weekly pay = 19020.00 ÷ 52 = 365.76923
Hourly rate of pay = 365.76923 ÷ 37.5 = $9.75
b) Gross earnings  = 946.30
Regular earnings  = 792.50
Overtime pay  = 153.80
Overtime hourly rate = 9.75 × 1.5 = 14.625
Overtime hours = 153.80 ÷ 14.625 = 10.516 hr.
64) Mark's gross wages for a week were $711.20. His regular workweek is 40 hours and overtime is paid at time and
one- half regular pay. What is Mark's regular hourly wage if he worked 45 1/2 hours?
Answer: Total hours = 45.5
Regular hours = 40.00
Overtime hours = 5.5
5.5 overtime hours are equivalent to 5.5 × 1.5 = 8.25 regular hours.
Hourly rate of pay =
711.20
48.25
= $14.74
65) Shaggy's Grocery Store shows sales revenue (exclusive of GST) of $235 000 for the year. Shaggy's GST taxable
expenses were (exclusive of GST) $24 750. How much should he remit to the government at the end of the year?
Answer: GST collected = 5% of $235000 = 0.05(235000) = 11750.00
GST paid = 5% of $24750 = 0.05(24750) = - 1237.50
GST remittance = $10512.50
66) A store located in Penticton, B.C., sells a computer for $2975.00 plus HST. If the same model is sold at the same
price in a store in Thunder Bay, Ontario, what is the difference in the prices paid by consumers in the two
stores?
Answer: Amount paid in Penticton, BC
= Retail Price + 12% HST
= 2975(1.12)
= $3332.00
Amount paid in Thunder Bay, ON
= Retail price + 13%HST
= 2975(1.13)
= $3361.75
The difference = 3361.75 - 3332 = $29.75, that is the 1% difference in the HST.
67) A computer store located in Oakville, Ont., sells a laptop for $1000.00 plus HST. If the same model is sold at the
same price in a store in Victoria, B.C.., what is the difference in the prices paid by consumers in the two stores?
Answer: Amount paid in Oakville, Ont
= Retail Price + 13% HST
= 1000(1.13)
= $1130
Amount paid in Victoria, B.C.
= Retail price + 12% HST
= 1000 (1.12)
= $1120
The difference = 1130- 1120 = $10.00, that is the 1% difference in the HST
68) Two people living in different communities build houses of the same design on lots of equal size. If the person
in Airdrie has his house and lot assessed at $165 000 with a mill rate of 22.051 mills, will his taxes be more or
less than the person in Kimberly with an assessment of $145 000 and a mill rate of 25.124 mills?
Answer: Property tax in Airdrie = 165000
22.051
1000
= 3638.42
Property tax in Kimberly = 145000
25.124
1000
= 3642.98
The person in Kimberly pays $4.56 more in property tax.
69) Extend each of the following and determine the total.
Quantity  Unit Price
74  $1.35
90  16  1
3
70  $0.885
58  $1.35
Answer: 74 × 1.35  = 99.90
90 × 0.16
1
3
= 14.70
70 × .885  = 61.95
58 × 1.35  = 78.30
Total $254.85
70) Spade Realty sold lots for $17 120 per hectare. What is the total sales value if the lot sizes, in hectares, were 5 3/4,
7 1/3, 5 5/8, and 4 1/6?
Answer: Total size  = 5
3
4
+ 7
1
3
+ 5
5
8
+ 4
1
6
ha
= (5.75 + 7.3333333 + 5.625 + 4.1666667) ha
= 22.875 ha
Sales value = 17120 × 22.875 = $391620.00
71) Heart of Gold Realty sold lots for $50 000 per hectare. What is the total sales value if the lot sizes, in hectares,
were 1 3/4, 2 1/3, 3 5/8, and 4 1/6?
Answer: Total size  = 1
3
4
+ 2
1
3
+ 3
5
8
+ 4
1
6
ha
= (1.75 + 2.3333333 + 3.625 + 4.1666667) ha
= 11.875 ha
Sales value = 50000 × 11.875 = $593 750.00
72) A salesperson earned a commission of $926.59 for last week on gross sales of $7880. If returns and allowances
were 10.5% of gross sales, what is his rate of commission based on net sales?
Answer: Net sales = 0.895 × 7880.00 = 7052.60
Commission rate =
926.59
7052.60
= 13.14%
73) Levi earns $19.60 an hour with time and one- half for hours worked over 8 a day. His hours for a week are 9.25,
8.5, 10.5, 13.5, and 6.25. Determine his gross earnings for a week.
Answer: Total hours = 9.25 + 8.5 + 10.5 + 13.5 + 6.25 = 48
Regular hours = 8 + 8 + 8 + 8 + 6.25 = 38.25
Overtime hours = 1.25 + 0.5 + 2.5 + 5.5 = 9.75
Regular pay = 38.25 × 19.60  = 749.70
Overtime pay = 9.75 × 19.60 × 1.5  = 286.65