FBLA

BUSINESS CALCULATIONS TEST

1.

Emily bought a new car for $11,400. She used the car three years and then traded it in for
$5,100. Find the average annual depreciation.
a. $16,500.00
b. $6,300.00
c. $223.53
d. $2,100.00

2.

Trisha wants to buy a condominium. The estimated expenses in the first year will be
mortgage interest, $3,819; real estate taxes, $1,381; insurance, $257; depreciation, $1,370;
maintenance and repairs, $425; lost income on cash invested, $985. She also estimates that
she will save $1,400 in income taxes because of home expenses. What is the net cost of
owning a home in the first year?
a. $3,819
b. $6,837
c. $8,237
d. $1,400

3.

Louis is paid a salary of $500 a month, a 1% commission on all sales, and 2% more on
monthly sales over $8,500. In June his sales were $12,500 and in July, $14,300. His total
salary and commission in July is?
a. $14,300
b. $705
c. $1,454
d. $759

4.

Johnny H works on a straight commission basis and sold five copy machines at $4,500
each. The commission rate was 6%. What is the amount of commission Johnny was paid?
a. $1,350
b. $22,500
c. $270
d. $4,500

5.

Audreys taxable income is $22,921. The AZ income tax rate on her taxable income is
$840 plus 6% of the amount over $20,000. What is Audreys tax?
a. $2,291.00
b. $1375.26
c. $1015.26

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$840.00
6.

Erica earned $3,292 in wages as a part-time salesclerk and $116 in interest. Her employer
withheld $480 in federal income tax from her wages. What is Ericas adjusted gross
income?
a. $3408.00
b. $3176.00
c. $2928.00
d. $596.00

7.

Parker Motor, Inc. paid its employees $24,595.74 in wages. FICA taxes were deducted on
that amount at the rate of 7.65%. As an employer, Parker Motor also paid an equal amount
of FICA tax on the wages. How much did Parker Motor send to the federal government in
FICA taxes?
a. $18,815.74
b. $1,881.57
c. $24,595.74
d. $3,763.15

8.

Angela is comparing her retirement benefits at age 62 and age 65. If she retires at age 65,
her monthly benefit will be $761. If she retires at age 62, her monthly benefit will be
reduced by 20%. What is her monthly benefit at age 62?
a. $761.00
b. $152.20
c. $913.20
d. $608.80

9.

The gross weight of a can of soup is 12.2 ounces. If the can weights 1.3 ounces, what is the
net weight of the soup?
a. 13.5 ounces
b. 12.2 ounces
c. 10.9 ounces
d. 15.86 ounces

10. Claudio had $45.38 on hand on April 21. During the week he earned $105 mowing lawns,
$63 trimming shrubbery, and $147 doing odd jobs. If he had $23.43 on hand at the end of
the week, how much money did he spend during the week?
a. $360.38
b. $315.00
c. $383.81
d. $336.95

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11. Heathers checkbook balance on 11/30 was $575.23. On the same date the bank statement
showed a balance of $770.68. Included on the bank statement was a service charge of
$4.15 and interest earned of $3.34. Outstanding checks were #106, $25.76; #109, $19.10;
#110, $142.13; and #112, $9.27. What is the adjusted bank balance?
a. $574.42
b. $571.08
c. $575.23
d. 566.93
12. On June 30 Kyles check register balance was 409.55 and his bank statement balance was
$474.73. When comparing his register with the bank statement he noticed there was a bank
service charge of $5.90 and interest earned of $4.24. Kyle also noticed failed to record
check #3407 for $56.33 in his check register. Outstanding checks were #412, $8.45; #414
for $179.72. A deposit mailed on June 29 for $65 was not listed on the bank statement.
What is the adjusted check register balance?
a. $347.32
b. $286.56
c. $351.56
d. 412.32
13. Joe earns his living refinishing wood floors. Last month he refinished 6 floors for $80 each,
2 floors for $68 each, and 1 floor for $122. What is the average amount per floor earned?
a. $738
b. $270
c. $30
d. $82
14. The average weekly pay of five employees is $473. The weekly pay of four of the
employees is $385, $530, $526, $495. What is the weekly pay of the other employee?
a. $500
b. $429
c. $484
d. $473
15. Elizabeths gas tank holds 18 gallons of gasoline. To fill up the tank she bought 15 gallons
of gasoline. How much gasoline, as a fractional part of the whole tank, was in the tank
before it was filled?
a. 1/18
b. 5/6
c. 1/6
d. 1/3

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16. David bought a box of lettuce (24 heads to the box). He used of the box and threw away
1/6 of the box which had spoiled. How many heads of lettuce did he have left?
a. 12
b. 8
c. 6
d. 2
17. A prize of $20,000 is to be shared by two winners, Lillian and Nichole, in a contest with the
ratio of 6 to 3. How much is the smaller share worth?
a. $13,333
b. $12,000
c. $6,667
d. $8,000
18. On a holiday weekend, Morris worked 15 hours at double time pay. His regular pay rate is
$10.00 for the 40 hours he worked. What is Morris gross pay?
a. $400.00
b. $300.00
c. $525.00
d. $700.00
19. Garrick is paid every two weeks. His pay is based on a 40-hour week at a regular pay rate
of $8.71 an hour with time and a half for overtime. During the first week of a new pay
period, Garrick worked 46 hours. In the second week of the pay period, he worked 43
hours. What is Garricks gross pay for these two weeks?
a. $775.19
b. $814.39
c. $1162.79
d. $117.59
20. In the four departments of the drug store owned by Matt H, sales for the day were:
prescriptions, $2424.00, toiletries, $695.00; cards, $520.00; and over the counter medicines
and vitamins, $1650.00. The prescription department is what percentage of the total?
a. 46%
b. 44%
c. 35%
d. 25%
21. Erin sells cosmetics on 8% commission. If commission is greater than $8,000, then she will
receive a $1,000 bonus. Last months sales totaled $80,000. What is Erins commission?
a. $7,400.00
b. $6,400.00
c. $740.00
d. $640.00

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22. Amanda, a salesperson, is paid 6% commission for all sales. She needs a monthly income
of $3,000. What is the monthly sales volume Jamie must meet?
a. $18,000
b. $36,000
c. $48,000
d. $50,000
23.

Natalie receives a weekly salary of $500 per week plus a 5% commission on all sales over
$650. Natalies total sales last week were $2,880. Sales returns were $280. Where were
her gross earnings for the week?
a. $561.50
b. $597.50
c. $532.50
d. $516.50

24. Trishas business trip from Parker to phoenix is 175 one-way. Your company reimburses
you mileage at $31 a mile. When you return to Parker you complete an expense voucher
for how much?
a. $54.25
b. $5.43
c. $108.50
d. $10.85
25. If Felicias store pays a unit cost of $45 for an A-1 Battery and sells it for $80, what is the
percentage mark-up?
a. 56%
b. 78%
c. 44%
d. 82%
26. Arizona Western Colleges enrollment this year was 5,323. This was a 14% increase from
the enrollment last year. What was AWCs enrolment last year?
a. 746
b. 4,578
c. 4,669
d. 6.068
27. Emily purchased 100 shares of stock at $15 7/8 per share and her transaction cost is $12.50.
What is the total amount Emily paid for the stock?
a. $1600.00
b. $1587.50
c. $1575.00
d. $1612.50

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28. Erica bought 80 shares of stock at $42.50 per share. The company paid annual dividends of
$2.75 per share. What is the annual yield to the nearest hundredth of a percent?
a. 2.20%
b. 5.16%
c. 3.44%
d. 6.47%
29. What is the net amount due on Matts invoice in the amount of $325.17 with terms of 2/10,
n/30 and paid 3 days after the invoice was received?
a. 97.55
b. $292.65
c. $318.67
d. $422.72
30. What are Johnnys outstanding deposits if he has a statement balance of $648.35,
outstanding checks of $44.89, and an adjusted balance of $794.83?
a. $1398.29
b. $101.59
c. $191.37
d. $794.83
31. Angela is traveling to Yugoslavia and needs to take along some dinars. The current rate of
exchange is 22.68 dinars for each $1. How many dinars will you get for $150.00?
a. 2268
b. 3402
c. 34020
d. 661.38
32. Eve deposited $1800 in a savings account that earns 6% interest compounded quarterly.
Assuming no deposits or withdrawals, what was the amount in the account at the end of the
second quarter?
a. $1908.00
b. $2016.00
c. $1827.00
d. $1854.41
33. The original cost of a pair of slacks is $20 and is marked up 60%. What is the selling price?
a. $20.60
b. $32.00
c. $12.00
d. $33.33

34. That $225.00 blue gown that Audrey wants to buy is finally on sale for 25% off. Sales tax
is 8%. How much will the gown cost Audrey?
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a.
b.
c.
d.

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$182.25
$243.00
$155.25
$175.00

35. Heather purchased 20 markers at $.75 each, 3 rolls of bulletin board border at $6.50 a roll,
and 2 deskjet black printer cartridges for $31.50 each. Tax was 8%, shipping was $3.50.
What is the total price of the invoice?
a. $108.80
b. $109.08
c. $105.30
d. $95.50
36. Louis class is making pizzas today. Each pizza will be cut into six pieces. You know that
everyone can scarf about four pieces of pizza. There are 10 kids in your class, plus your
teacher. How many pizzas do you need to make in order for everyone to have at least four
pieces?
a. 6
b. 7
c. 8
d. 9
37. FBLA has decided to have a candy sale. The school pays $1.50 per box of candy and sells
the candy for $2.85 per box. If FBLA sold 1400 boxes of candy, how much profit did they
make?
a. $1,890.00
b. $1,750.00
c. $1,970.00
d. $1,630.00
38. Erica bought a new boat for $8,500. She put down $1,200 and financed the balance at 10%
simple interest for 60 months. What is the monthly payment?
a. $121.67
b. $133.83
c. $141.67
d. $155.83
39. Morris purchased an oven that was priced to sell for $340 on an installment plan. The
agreement provided for a 10% down payment of the selling price, and the unpaid balance to
be paid in 12 monthly payments of $35 each. Morris paid how much in finance charges?
a. $114.00
b. $275.40
c. $126.00
d. $92.00
40. The company calculates hours worked to the nearest quarter of an hour. Joe worked from
8:00 to 11:50 and from 12:30 to 4:20. What are his total hours?
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FBLA BUSINESS CALCULATIONS TEST

a.
b.
c.
d.

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8
8
7
7

41. Nichole H is a carryout cashier. She earns $5.15 for a regular 40 hour week. She earns
double time for Sundays. Last week Nichole worked her regular 40 hours plus 7 hours
on Sunday. FICA and Medicare is $21.67; FWT is $42.00, and Medical Insurance that she
pays for is $22.50. How much is her net pay?
a. $261.25
b. $283.25
c. $219.58
d. $197.08
42. Trishas Corporation manufactures personal computer monitors. Each monitor is packaged
in a carton measuring 2 feet long, 1.5 feet wide and 2 feet high. How many cubic feet of
space does Trisha need to store 800 monitors?
a. 480 feet
b. 4800 feet
c. 480 square feet
d. 4800 square feet
43. Sabrinas Sporting Company estimates fixed costs of $19,125 and variable costs of $44,625
to produce and sell 3,000 baseball bases. The selling price of the bases is to be $25 each.
What sales income must Sabrinas company have in order to break even?
a. $75,000
b. $63,750
c. $11,250
d. $2,550
44. Based on problem #43, at a selling price of $25 each, how many bases must be sold to
break even?
a. 11,250
b. 3,000
c. 2,550
d. 255
45. Trevors Fashions expects fixed expenses of $2,000 and variable expenses of $6,000 to
produce and sell 1,000 sweaters. To break even the company must sell the sweaters for at
least how much?
a. $2.00
b. $2.40
c. $6.00
d. $8.00
46. In problem 45 above, in order to make a net income of 30% of the total cost, Trevors must
sell the sweaters for how much each?
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a.
b.
c.
d.

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$6.00
$7.40
$8.00
$10.40

47. Jacobs Financial Services rents space for a branch office at $2,760 a month. The office is
60 feet long and 40 feet wide. The yearly rental cost per square foot is how much?
a. $24.00
b. $13.80
c. $66.24
d. $27.60
48. JJ has 6 marbles; #s 1, 2, 3, and 4 are red and those numbered 5 and 6 are blue. What is the
probability of picking a red marble?
a. 1/6
b. 1/3
c. 2/3
d.
49. From the problem above, what is the probability of picking a marble not marked 2?
a. 1/6
b. 1/3
c. 2/3
d. 5/6
50. On October 31, Ana borrowed $2,800 from the bank. She gave the bank her 3-month note
for that amount. The note was dated October 31, and the exact interest rate was 11%. On
the maturity date, what was the amount of the check that Ana gave the bank?
a. $3108.00
b. $2,877.00
c. $1,554.00

FBLA

FBLA BUSINESS CALCULATIONS TEST

#2902.00

BUSINESS CALCULATIONS KEY

1. d
2. b
3. d
4. a
5. c
6. a
7. d
8. d
9. c
10. d
11. a
12. c
13. d

FBLA

14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.

b
c
8
c
d
b
a
b
d
b
c
b
c

27.
28.
29.
30.
31.
32.
33.
34.
35.
36.
37.
38.
39.

c
d
c
c
b
d
b
a
a
c
a
b
a

40.
41.
42.
43.
44.
45.
46.
47.
48.
49.
50.

d
d
d
b
c
d
d
b
c
d
b

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