AMDM Unit 1 Test

Managers know that employees work at different speeds. As a manager, you want to know how long it should take employees to do one job together. The steps to do this are below. Put them in the right order.

• Put each employee's job time into a fraction

• Find the reciprocal of the fraction

• Divide and convert answer into hours and minutes

• See how long it takes each employee to do one job alone

• Find LCD, find new numerators and then add the numerators

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Employee Work Rates

After you graduate, it will cost you $3600 to move into your new apartment, $100 to turn on the power, $100 to turn on the natural gas, $80 to turn on the water and $110 to set up the Wi-fi and internet service. After you have moved in and all your bills are paid, you would like to have $1500 left over in your bank account. If you are able to save (and not spend) $150 a week, how many weeks of saving up will it take to pay for your Move Out?

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Move Out

To live in your apartment, each month you spend $1700 on rent, $130 on electric, $80 on water, $110 on internet access, $350 on food, $120 on gasoline and $120 on car insurance. The state you live in has an income tax of 5.3%. If you plan to work 38 hours per week, what minimum wage will you need to survive?

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Personal Minimum Wage (PMW)

You decide it is too expensive to live alone in a single bedroom apartment. So, you decide to rent a 2 bedroom apartment and split the bills with the other person. If during each month you normally spend $1700 on rent, $130 on electric, $80 on water, $110 on internet access, $350 on food, $120 on gasoline and $120 on car insurance. The state you live in has an income tax of 5.3%. If you plan to work 38 hours per week, what minimum wage will you need to survive?

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Personal Minimum Wage (PMW)

You worked 53 hours last week (and you are very tired). If your wage is $13.85 per hour, what is your weekly gross pay? (Round your answer to the nearest cent)

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Overtime

Shanaya works 38 hours per week and earns $14.25 per hour at her job. Her deductions are:

Federal: 11.75%, State: 5.5%, FICA: 7.65%, Medical Insurance: 6%, Vision: 1%, and Dental: 1.8%.

What is Shanaya's net pay?

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Deductions

You earn $13.25 per hour at your job and you worked 25 hours last week.

If your state tax is 4.75%, how much state tax will be deducted from your check?

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Calculating Taxes

Your business revenue was $15,386.41 last month. Your business expenses

were $12,698.59. What was last month's profit?

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Managing A Business

Revenue ​ (a)   ​ (b)   = ​ (c)  

• -
• +
• Expenses
• Revenue
• Profit
• Income
• Taxes

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Managing A Business

Sheila cleans your kitchen in 2 hrs. and 47 minutes. Ed cleans your kitchen in 3 hrs. and 23 minutes. Francisco cleans your kitchen in 3 hours and 17 minutes. How long will it take them to clean your kitchen if they work together?