Mathematics 150 150 Affordable Capstone Projects Written from Scratch
Question 1 of 20 : Select the best answer for the question.



1.   What’s the weighted mean frequency for the following car sales?

2 sold at $25,090, 3 sold at $20,000, 1 sold at $21,475, and 1 sold at $39,638


   A. $21,241
   B. $24,740
   C. $24,470
   D. $24,000


2.   Janet received the following grades in an accounting class at McClenan Community College: 65, 80, 70, 100, 75, and 90. The instructor said he would drop the lowest grade. After the lowest grade is dropped, what’s Janet’s average?

   A. 83
   B. 84
   C. 81
   D. 82


3.   With beginning inventory at cost of $9,000, ending inventory at cost of $7,000, net sales of $51,000, and cost of goods sold of $46,000, the inventory turnover at cost to the nearest hundredth is

   A. 7.57.
   B. 7.55.
   C. 5.57.
   D. 5.75.


4.   A total sales amount of $400,000 that included a 6% sales tax yields actual sales of

   A. $37,537.58.
   B. $42,800.
   C. $377,358.49.
   D. $48,200.


5.   In terms of premium cost, the most expensive type of insurance is _______ insurance.

   A. straight-life
   B. 20-payment life
   C. 20-year endowment
   D. term


6.   Usually, assessed value is rounded to the nearest

   A. tenth.
   B. percent.
   C. cent.
   D. dollar.


7.   The weighted-average method is best used for

   A. fuels only.
   B. heterogeneous products.
   C. grains only.
   D. homogeneous products.


8.   Belle Co. has beginning inventory of 12 sets of paints at a cost of $1.50 each. During the year, the store purchased 7 at $3.00, 8 at $3.25, and 12 at $3.50. By the end of the year, 31 sets were sold. Using the LIFO method, the cost of ending inventory is

   A. $21.00.
   B. $12.00.
   C. $3.50.
   D. $28.00.


9.   Pedro opened a grilled cheese food cart. He insures his food cart for $90,000.00 for fire. What’s his premium if the rate per $100.00 is $0.83?

   A. $747.00
   B. $74,700.00
   C. $74.70
   D. $700.00


10.   Mia’s office building with a $300,000 value has a rating of 2 with a building classification of A. The contents in the building are valued at $120,000. Using the tables found in the textbook, the total annual premium for fire insurance is

   A. $1,046.40.
   B. $990.00.
   C. $1,554.
   D. $1,064.04.


11.   Suppose Department X is 8,000 square feet, Department Y is 5,000 square feet, and Department Z is 6,000 square feet. What’s the percent of overhead expense applied to Department Z? (Round your answer to the nearest whole percent.)

   A. 42%
   B. 32%
   C. 68%
   D. 26%


12.   A bond that closed today at 94 down 2 closed yesterday in dollars at

   A. $950.
   B. $930.
   C. $960.
   D. $940.


13.   During inflation, the best method to use in inventory valuation that produces the smallest amount of profit is

   A. weighted average.
   B. FIFO.
   C. LIFO.
   D. specific invoice.


14.   Stocks are always quoted in

   A. percents.
   B. quarter lots.
   C. decimals.
   D. quarters of a dollar.


15.   Which one of the following items is subject to sales tax in the District of Columbia?

   A. Tomatoes
   B. Shampoo
   C. Roast beef
   D. Milk


16.   T.J. bought fire insurance for his pizza shop for $200,000 at an annual rate per $100 of $.49. At the end of 10 months, T.J. canceled the policy since his pizza shop went out of business. Using the tables found in the textbook, determine the refund to T.J.

   A. $852.60
   B. $980
   C. $127.40
   D. $186.20


17.   The tax rate of $.0984 in decimal form can be expressed as how many mills?

   A. 90.84
   B. 9,840
   C. 98.4
   D. 9.84


18.   Personal property items do not include

   A. autos.
   B. land.
   C. furniture.
   D. jewelry.


19.   Find the mean for the following numbers and do not round your answer to the nearest whole number:

38, 18.05, 25, 26, 46


   A. 32.14
   B. 21.45
   C. 23.74
   D. 30.61


20.   The one named in the policy to receive the insurance proceeds in case of the death of the one taking out the policy is the

   A. insurer.
   B. beneficiary.
   C. both insured and beneficiary.
   D. insured.