Business Finance Level 1

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1 Business Finance Level 1 This paper must be returned with the candidate s work, otherwise the entry w void and no result will be issued Sample paper 1 Candidate s name (Block letters please) Centre no Date Time allowed: 1 hour (plus 5 minutes reading time). Note making is not allowed during reading time. Answer all questions. Show all your workings. All final answers must be written in blue or black ink. Your answers should be written in the question booklet in the spaces provided. If additional separate sheets of paper are used, make sure each page is clearly labelled with your name. Recommended equipment: calculator, pencil, ruler, protractor, eraser. For examiner s use only Section B Section A Task 1 Task 2 Task 3 Task 4 TOTAL /15 /20 /12 /29 /24 /100 The City and Guilds of London Institute 2012 V1

2 Section A Answer all questions. 1 The Kool Cosmetics company produced the following information for the sale of various cosmetics in the last year. $ million Mascara Perfume Lipstick Moisturiser Hand Crème Cosmetic Calculate the proportion of total sales represented by perfume. (1 mark) 2 A shop owner is taking a sample to calculate the average amount spent by customers. Seven customers spent the following amounts in a half-hour period: $8.20, $14.70, $5.36, $11.00, $2.60, $5.32, $5.32 State the median amount. (1 mark) C2

3 A restaurateur, bought four ten-litre cans of cooking oil. She estimates that she uses 0.25 litres each day in her restaurant. Calculate the number of days the oil will last. (1 mark) 4 An organisation borrows $ at 6% per annum simple interest. Calculate the amount of interest payable in one year. (1 mark) 5 The manager of QuikCut Hairdressers is reviewing prices. It costs $4.00 in wages for a hair cut, $1.50 in materials and $0.40 in other costs. The manager decides to add 40% for profit in addition to total costs. Calculate the price of a haircut. (2 marks) 6 A taxi driver works 30 hours a week. On average the taxi driver transports four passengers each hour. Calculate the time in weeks it would take to transport passengers. (1 mark) C3

4 Ahmed employs workers on a piece rate basis. He pays $0.40 per unit for the first 200 units completed each week and $0.50 for all units completed over 200 units. Calculate the amount Ahmed would pay an employee who completes 215 units in a week. (2 marks) 8 Lin, Kim and Sue are partners sharing profits in the ratio 3:2:4. Calculate the amount Sue would receive if Lin receives $ (2 marks) 9 Tim Webber, the UK sales manager asked for $ to be converted to sterling. The rate of exchange is $1.95: Commission of 2.00 is to be paid on the transaction. Calculate the amount Tim Webber will receive. (2 marks) 10 Sanji bought goods to the value of $400 less 5% trade discount. A tax of 10% applies to the transaction. Calculate the amount Sanji paid. (2 marks) (Total 15 marks) C4

5 Section B Complete all tasks You are employed in the office of China Electrica, a small company of electricians, and have been asked to complete a number of tasks. Task 1 Your manager has asked you to order the following for the company: 10 Reams of A4 white copy paper 5 Reams of A4 white printer paper 250 Window pocket white envelopes 1 Box medium black ball point pens Using the following price list complete the order form opposite. Product description Office Suppliers Limited Price list Product Reference Unit quantity List Price $ Paper A4 White copy A4 Coloured copy A4 White printer A4 Coloured printer Tracing WC 01 CC 02 WP 03 CP 04 TP 05 Ream Ream Ream Ream Envelopes White plain pocket White window pocket Plain Wallet Window Wallet WPP 11 WWP 12 PW 13 WW 14 Box 250 Box Pens Fine black Medium black Fine blue Medium blue FBK 22 MBK 23 FB 24 MB Trade discount of 5% is available on orders up to $ Trade discount of 10% is available on the total of all orders above $ Delivery for orders up to $50.00 is charged at $4.00 Delivery is free for orders above $50.00 in value Tax of 15% applies to all orders C5

6 Office Suppliers Limited Order Form Ordered by: Your account ref: 5875 China Electrica Ltd 47 Airport Road Kuala Lumpur Product description Product Reference Unit Quantity List Price $ Total value of goods $ Total goods All goods supplied are subject to a 30-day guarantee Trade discount Sub-total Delivery charge (if any) Sub-total 15% TOTAL (Total 20 marks) C6

7 Task 2 A phone call has been taken from a potential customer and the information below has been obtained. Your manager has added his notes to the information and you have been asked to produce a costed estimate before he returns the telephone call. Telephone message Dated: Today To call back: by today Manager s note: Mr Patel would like an electrician to call to connect a new cooker and a new shower. Will require cable (2 $10.00 per metre and an additional 25 $5.00 per metre), labour: nine $9.00 Please return phone call to advise price. Additional costs/expenses $ His telephone number is (03) Add a callout charge of $ a) Using the information above complete the following estimate. ESTIMATE China Electrica Ltd 47 Airport Road Kuala Lumpur Customer Name:... Telephone number:... Date: $ = = Costs/expenses Callout charge TOTAL (Total 12 marks) C7

8 Task 3 a) Using the information provided, calculate the net pay for the following employees in the table below. Time Sheet Summary Employee Sue Ling Jackson Dhilami Basic rate of pay Overtime rate Hours at basic rate Hours worked this week $7.74 per hour Time and a half 35 hours 39 hours $8.80 per hour Double time 37 ½ hours 44 hours Gross pay is subject to a deduction of 20%. Employee Sue Ling Jackson Dhilami $ Basic rate per hour Overtime pay per hour Basic pay this week Overtime pay this week Gross pay Less deductions (20%) Net pay (18 marks) C8

9 b) Three employees are to be paid in cash for this week and you have been asked to prepare a cash analysis to determine the notes and coins needed for their pay. Complete the cash analysis below using the minimum amount of notes and coin. Employee Net pay $ Emily Setekia $20 $10 $1 50c 10c 5c 1c Lee Leng Lim Teng Total number of notes/coin TOTALS $ (11 marks) (Total 29 marks) C9

10 Task 4 Your manager is to make a presentation to staff who do not come from a numerate background and has asked you to present a table of information in a graphical way so that it is easier to understand. The table below provides information for a six month period. a) (i) Calculate, in degrees, the proportion of customer visits that take place each month and complete the total customer visits and degrees in the table below. (7 marks) Month Customer Visits Degrees March 400 April 200 May 100 June 300 July 500 August 500 TOTAL C10

11 (ii) Use the information in the table to prepare a pie chart to indicate the proportion of customer visits that take place each month. (4 marks) Monthly Proportion of Customer Visits C11

12 b) (i) Calculate the percentage of customer complaints per month and complete the table below. March April May June July August Customer visits Complaints Percentage of customer complaints per month (ii) Use the information in b) (i) to complete the following line graph. (6 marks) Percentage of customer complaints per month Percentage March April May June July August Month (7 marks) (Total 24 marks) C12

Business Studies Level 2

Business Studies Level 2 8994-02-002 Sample 00002 Candidate s name (Block letters please) Centre no Date Time allowed: 2 hours (plus 5 minutes' reading time). Answer all questions. All answers must be