Marketing Essentials

Unit 3: Business and Society

Math Workout

1
Project KIDS, a non-profit organization, made $942,000 in income last year. Thirteen percent of the income will be used to pay for the expenses of the organization. The money that is left over will be used to help underprivileged children. How much will this be?
A)$282,600
B)$659,400
C)$819,540
D)$122,460
2
International Communications, Inc. provides goods and services to businesses worldwide. For 2001, the company sold $723,000 in goods such as telephones, fax machines, and computers and $1.34 million in services, including telecommunications and computer assistance. What was the total revenue for International Communications, Inc. for 2001?
A)$2,063,000
B)$8,570,000
C)$617,000
D)$857,000
3
Three years ago you decided to open an electronic branch of your retail business. As it turns out, your “e-tail” business is making more money than the actual retail business because “e-tailing” involves fewer expenses. It costs about $98,000 yearly to run the retail stores, while operating costs for your e-tail business are about 56% lower. How much does it cost you yearly to e-tail?
A)$45,080
B)$54,880
C)$42,000
D)$43,120
4
In order to conserve natural resources, the productions director at Plastics Plastics, has decided to use recycled materials in the company’s toy car production. This will increase labor costs by 35% per car because the recycled plastic is harder to work with, but it will reduce materials costs by 50% per car. If labor costs were 80 cents per car and materials cost $1.24 per car before, how much less will the company spend per car on production and labor costs now?
A)$0.34
B)$1.00
C)$1.14
D)$0.90
5
Your company now spends $67,000 on production of a clothing line and makes $107,000 in profits. Your boss has asked you to do some research on the benefits of adding some new “green” items to the line. You determine that adding the green items will increase production costs by about 18%. However, the new products are likely to appeal to young people, and sales may increase by 25%. How much more profit will the company make with the new items?
A)$38,810
B)$12,060
C)$14,690
D)$2,510
6
Although no serious problems were reported, a company has decided to recall a drug that it has out on the market because one of the test labs found it to have some dangerous side effects. The sales department estimates that the company has sold an average of 120 bottles of the medicine in each of 532 drugstores. If the company pays $4.98 per bottle and all are returned, about how much will the company lose in total on the recall?
A)$46,600.20
B)$317,923.20
C)$79,480.80
D)$341,023.20
7
Your employees have expressed an interest in flextime, and would like to work 4 days a week instead of 5. The employees have been working 9-hour days, including an hour for lunch. How many hours will they need to work daily if they switch to the new schedule?
A)9 hours
B)12 hours
C)7 hours
D)11 hours
8
In order to strengthen its domestic automobile industry, the federal government of a country decides to impose a 9.5% tariff on all imported cars. If one foreign car company has brought 4,500 cars at $21,000 each into the country, how much money will the company pay in tariffs?
A)$8,977,500
B)$103,477,500
C)$179,550
D)$89,775,000
9
Country A decides to place a quota on the number of foreign computers that can be imported and sold within the country next year in order to encourage the growth of the domestic computer market. Three hundred and fifty thousand computers are imported yearly from Country B, but with the new quota, Country B will have to decrease this number by a quarter. How many computers will be exported by Country B to Country A next year?
A)87,500
B)437,500
C)262,500
D)612,500
10
Last year a country experienced a negative trade balance. If the country imported $2.73 billion and exported $1.97 billion in goods and services, what was the total trade deficit for the year?
A)$1,240,000,000
B)$760,000,000
C)$4,700,000,000
D)$860,000,000
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