AISAT BALIWAG

BUSINESS MATH
FINAL QUIZ

NAME:
SECTION:

PART I Identify what is being asked. (2 points each)

1. Overtime Rate
2. Rest Day or Special Holiday Rate
3. On Rest Day which Falls on a Special Day Rate
4. Regular Holiday Rate
5. On Rest Day which Falls on a Regular Holiday Rate

PART II For the following invoices whose term of payment is 3/10, 2/15; n/60, Find:
1. Deadline for the 3% discount period
a) Invoice Date: April 12
b) Invoice Date: July 29
2. Deadline for the 2% discount period
a) Invoice Date: April 12
b) Invoice Date: July 29
3. Deadline for the 60-day credit period
a) Invoice Date: April 12
b) Invoice Date: July 29

Find the cash discount and net amount due if the following invoices are paid within the discount period. Use a separate
sheet for your computations.
Net Invoice Price Terms of Payment Cash Discount Net Amount Due
1. 3265 3/10 ; n/30
2. 1342.50 2/15; n/30
3. 985 3/5 ; n/30
4. 266.50 1/10 ; n/30
5. 839.75 3/30 ; n/90

PART III
1. Emmanuel Joshua is a manager. He earns a basic salary of 12,500 per month. He earns a 3% commission on his own
sales and 1% on the sales of his men. In addition, he is granted a transportation and representation allowance of 5,000. For
the current month, his men made a total sale of 250,000. Emmanuel made a total sale of 140,000. Compute his:
A. Commission
B. Overrides
C. Transportation and Representation Allowance
D. Gross Earnings

2. Abram is a sales representative receiving an annual salary of 180,000 plus commission on all his sales above quota of
30,000 in accordance with the following schedule:
First 30,000 above quota %
Next 50,000 1%
Next 70,000 2%
Over 150,000 3%
Compute his gross earnings if his sales for the month:
A. 28,500
B. 37,900
C. 58,200
D. 93,200
E. 170,000

MR. JOMAR V. VILLENA, CPA