International Business

Unit 4: International Marketing and Finance

Math Practice

1.
The Gold Mine purchased 18-carat gold chains from Turkey for $225.00 each. The Gold Mine sells the gold chains for $399.99 each. What is the markup on each gold chain?
A)$56.25
B)$174.99
C)$177.99
D)$199.99
2.
Out of Bounds is an online adventure company that sells all-terrain vehicles, snowmobiles, and jet skis. Out of Bounds purchases a snowmobile for $3,990 from the manufacturer. It sells the snowmobile to a customer in Norway for $7,499. What is the markup rate based on cost?
A)38.21%
B)46.79%
C)53.21%
D)87.94%
3.
Sue's Shoes purchased some cowboy boots for $24. Its markup based on selling price is 45 percent. What is the selling price of the boots?
A)$10.80
B)$24.75
C)$43.64
D)$53.33
4.
The Toy Store buys board games for $6.90. It sells the games for $9.99. What is the markup rate based on the selling price?
A)22.4%
B)69.1%
C)44.8%
D)30.9%
5.
The Creamery developed a new flavor of ice cream called Coffee Toffee. The Creamery went to the boardwalk to test the new flavor. Of the 3,500 people who taste-tested Coffee Toffee, 2,300 people said they would likely buy it in the store. The Creamery sells its products in an area of 1,450,000 people. What is the sales potential for Coffee Toffee?
A)414 people
B)630 people
C)952,857 people
D)1,334,000 people
6.
The Halfpipe, a skate shop, has a 34 percent share of the market for skateboarding clothing and supplies in the city. Revenues for similar shops in the city for next year are estimated to be $1,070,600. What is the projected sales figure for The Halfpipe for next year?
A)$364,004
B)$525,363
C)$656,704
D)$706,596
7.
A discount department store has 186 plastic storage bins in stock on June 1. During June, it received 60 and sold 173. Find the total inventory on July 1.
A)73
B)139
C)299
D)419
8.
Sound Surround has a display of portable stereos. Each box measures 10 inches by 18 inches by 12 inches. How many cubic inches of space are required for 30 boxes?
A)37.5 cubic inches
B)2,160 cubic inches
C)5,400 cubic inches
D)64,800 cubic inches
9.
Candy's Sweet Shoppe reviewed its record of expenses for the first quarter. Payroll was $22,560; raw materials were $6,870; rent was $6,000; utilities were $3,300; office supplies were $1,200; insurance was $5,400; and advertising was $1,860. What percent of total expenses did Candy's spend on payroll during the first quarter?
A)14.6%
B)47.8%
C)26.6%
D)30.4%
10.
The Book Nook estimates the annual cost of maintaining its inventory to be 20 percent of the inventory. This year, The Book Nook plans to maintain an inventory totaling $875,000 in value. What amount should be set as the estimated cost of carrying the inventory for the year?
A)$175,000
B)$437,500
C)$1,050,000
D)$1,750,000
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