Semester 2 Exam - Chapter 5 Review

Last year Beth’s annual salary was $38,350.  This year she received a promotion and now earns $46,462 annually.  She is paid biweekly. What was her biweekly salary last year?

• $1,597.92

• $1,475

• $1,280.52

• $1,525

Last year Beth’s annual salary was $38,350.  This year she received a promotion and now earns $46,462 annually.  She is paid biweekly. What was her biweekly salary this year?

• $1,787

• $1,935.92

• $1,875

• $2,015.64

Last year Beth’s annual salary was $38,350.  This year she received a promotion and now earns $46,462 annually.  She is paid biweekly. On a biweekly basis, how much more does Beth earn because of her promotion?

• $338

• $325

• $312

• $344

Rock musician Donny West is paid 15% on his CD sales and 12% on his tour video sales.  Last year, he sold one million CDs and 550,000 videos.  The CDs were sold to music stores for $5 each and the videos for $6 each.  How much did Donny receive in royalties last year?

• $1,320,000

• $1,480,000

• $1,500,000

• $1,230,000

Jim worked 40 regular hours last week, plus 8 overtime hours at the time-and-a-half rate. His gross pay was $1,248.  What was his hourly rate?

• $21 per hour

• $22 per hour

• $23 per hour

• $24 per hour

As part of their employees’ benefits, all workers at Middletown Electronics receive a pension that is calculated by multiplying the number of years worked times 1.65% of the average of their three highest years’ salary.  Maureen has worked for Middletown for 27 years and is retiring.  Her highest salaries are $97,000; $97,800; and $98,198.  Calculate Maureen’s pension.

• $43,510.20

• $44,682.80

• $45,187.70

• $46,295.60

The Price King Auto Mall pays their sales staff by commission.  They are paid a percentage of the profit the dealership makes on each sold car.  If the profit is $900 or less, the commission rate is 18%.  It the profit is greater than $900 and less than or equal to $1,500, the commission rate is 20% of the profit.  If the profit is above $1,500, the rate is 25% of the profit. What is the commission on a car for a $970 profit?

• $190

• $194

• $198

• $202

The Price King Auto Mall pays their sales staff by commission.  They are paid a percentage of the profit the dealership makes on each sold car.  If the profit is $900 or less, the commission rate is 18%.  It the profit is greater than $900 and less than or equal to $1,500, the commission rate is 20% of the profit.  If the profit is above $1,500, the rate is 25% of the profit. Price King Auto Mall purchases a car for $32,090 and sells it for 33,200.  What is the commission paid to the salesperson?

• $222

• $252

• $282

• $302