Mathematics with Business Applications

Chapter 3:

Practice Test

1.
The McConnell's records for January, February, March, and April show that their expenditures totaled $2,004, $1,897, $2,345, and $2,426, respectively. What is their average monthly expenditure for the four months?
A)$26,016
B)$8,672
C)$2,218
D)$2,168
2.
The Browns used records of their past expenditures to complete their budget sheet for the upcoming new year. If their monthly living expenses averaged $617, their monthly fixed expenses averaged $1,108, and their monthly share of annual expenses averaged $318, what amount should they expect to spend monthly?
A)$170.25
B)$2,043.00
C)$3,816.00
D)$24,516.00
3.
The LoBellos prepared an expense summary. They had planned to spend $380.00 on food for the previous month, but actually spent $391.25. How much more or less did they spend on food than they had budgeted for?
A)$8.75 under
B)$8.75 over
C)$11.25 under
D)$11.25 over
4.
The Gillen's records for September, October, and November show that their expenditures totaled $2,567.05, $2,678.16, and $2,781.57, respectively. What is their average monthly expenditure for the three months?
A)$668.90
B)$2,006.70
C)$2,675.59
D)$8,026.78
5.
The Drexels used records of their past expenditures to complete their budget sheet for the upcoming new year. If their monthly living expenses are $716, their monthly fixed expenses are $1,262, and their annual expenses are $3,564, what amount should they expect to spend monthly?
A)$461.83
B)$1,978.00
C)$2,275.00
D)$5,542.00
6.
The Turcks prepared an expense summary. They had planned to spend $164.50 on utilities for the previous month, but actually spent $187.25. How much more or less did they spend on utilities than they had budgeted for?
A)$22.75 under
B)$22.75 over
C)$45.50 under
D)$45.50 over
7.
The Hutton's records for the past six months show that their expenditures totaled $2,786, $3,001, $2,875, $2,663, $2,471, and $2,803. What is their average monthly expenditure for the six months?
A)$1,383.25
B)$2,766.50
C)$4,149.75
D)$5,533.00
8.
The Chins used records of their past expenditures to complete their budget sheet for the upcoming new year. If their monthly living expenses are $848, their monthly fixed expenses are $1,305, and their annual expenses are $3,816, what amount should they expect to spend monthly?
A)$318.00
B)$497.42
C)$2,471.00
D)$5,969.00
9.
The Scotts prepared an expense summary. They had planned to spend $217.25 on transportation for the previous month, but actually spent $212.50. How much more or less did they spend on transportation than they had budgeted for?
A)$4.75 under
B)$4.75 over
C)$5.25 under
D)$5.25 over
10.
The Silversteins used records of their past expenditures to complete their budget sheet for the upcoming new year. If their monthly living expenses are $912, their monthly fixed expenses are $1,457, and their annual expenses are $3,078, what amount should they expect to spend monthly?
A)$256.50
B)$453.92
C)$1,457.00
D)$2,625.50
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