Business Math Numerical (calculations-6) Business Math Numerical (calculations-6) 1. Total sales of prescription drugs are $210,000 and cost of drugs is 180,000. What is the gross profit and gross profit in percentage? + 30,000 $ and 14.5 % 2. The cost of goods sold is $150,000. The inventory at the start of year was $25,000 and at the end of year was 50,000. What inventory turnover rate? Answer: 4 3. In continuation with previous Question, the turn over rate was 6 last year. What is the difference in tum over rate? Answer: 2 4, The following figures appearing on the balance sheet. Cost of goods sold $500,000; Beginning inventory $200,000; Ending inventory $220,000; Total current assets $150,000; Total fixed assets $40,000; Total liabilities $75,000 Calculate Inventory turnover rate and Net worth of pharmacy Answer: 2.3 and $115,000 5. Total sales is = $530,000; Cost of goods sold = $350,000. What is % of gross margin? Answer: 33% 6. Cost of goods sold is $2,000,000; Start of year inventory capital $400,000; End of year inventory capital is $600,000. What is the turnover rate? Answer: 4 7. A mouthwash sells for $29.99. The mark up on cost is 50%. What is the cost of mouthwash? Answer: 19.99 $ 8. A customer buy 12 bottles of mouth washes and cost of each bottle cost is $15. However, due to bulk purchase, the customer gets one bottle free. How much a customer saves on each bottle? Dr Jaggi’s Academy Page 1Business Math Numerical (calculations-6) Answer: 1.15 $ Hint: Actual Price of 12 bottles: 180 §. In new Scheme, price of 13 bottles is 180 §. So under new Scheme, price of one bottle is 13.84 $. Price of one bottle without scheme is 15 S. Saving per bottle is 1.15 9. In a scheme, on purchasing ten dozen (120) bottles of Tylenol, you will receive one dozen (12) additional bottles free. If the regular unit cost is $2.99, what is the actual unit cost paid by the pharmacy? Answer: 2.71. Without scheme, price of 120 bottles is (120 X 2.99) 358.8 $. Under scheme, (120 +12) 132 bottles have price of 358.8 S. Under scheme, price of one bottle is 358,8/13= 2.718 10. The cost of a drug is $10 and mark up on cost is 30%. The prescription (dispensing fee: co-payment) fee is $10. What is the total amount that the customer pays? Answer: 23 $; Selling price is 13 $ + Prescription fees= 23 S 11, The total net profit is $90,000 and net profit on income is 15%? Calculate total income. Answer: 600,000. Net Profit = [Percent profit on income X Total Income]/100 90,000 [15 X Total Income}/100 12, What is the retail sales price if mark-up price on cost is 33.3% and total cost is $12? Answer: 16 $ 13. If the cost of an item is $6 and mark up on cost is 40%, What is the retail price? Answer: 8.4 14. Ifa selling price is $15.90 and mark up on cost is 33.3%. what is the cost of an item? Answer: 11.9 $ 15, The cost of an item is $12 and the retail price is $16. The mark up on cost is? Answer: $33.3% SP = [percent MP x Cost]/100 + Cost 16 =[Y x 12]/100 + 12 Y x 12/100 Dr Jaggi’s Academy Page 2Business Math Numerical (calculations-6) Y= 400/12= 33.3 % 16, There is a decrease in the expenses of pharmacy by $12,000 in comparison to last year. What will be the percent increase in net profit, if Sales = $1200,000; Cost = $1050,000; Net profit this year = $120,000, Answer: 10 %; Net profit = decreas e in expenses 12,000 S. Percent increase in Profit = [12000/net profit this year] X 100= 10 % 17. A pharmacist decreases the expenses of his pharmacy by 36,000 $ as compared to his, expenditures last year while achieving the same sale. What will be the percentage of increasing his net profit if Sales =3,000,000; Cost=2,400,000; Net profit this year =180,000 Answer: 20% Dr Jaggi’s Academy Page 3