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IBUS_300_QUIZ_3_FALL_2007_answer_sheet

IBUS_300_QUIZ_3_FALL_2007_answer_sheet - 4 $860.80 1.4 =...

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IBUS 300 Fall 2007, Quiz 3 Answer Sheet 1. B 11. A 2. A 12. D 3. A 13. A 4. D 14. C 5. D 15. C 6. C 16. B 7. B 17. D 8. A 18. D 9. D 19. B 10. A 20. A Part 2 1. Ans: 700 euros FOB Mar. $2000 CIF NY 700 euros x $1.50 : $1050.00 Cost of carriage : $50.00 Marine Insur. (25 x 1.50) : $37.50 Quality of Goods Cert. (20 x 1.50): $30.00 $1167.50 CIF N $2000 CIF NY 2. Ans: 1. $2350 / 1.5 = $1566.67 price paid to distributor. 2. $1566.67 / 1.4 = $1119.05 price paid to importer. 3. $1119.05 / 1.3 = $860.80 $ price paid to exporter.
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Unformatted text preview: 4. $860.80 / 1.4 = 614.86 euros : exporter’s price. 5. 614.86 / 1.2 = 512.39 euros unit cost. 6. 614.86 - 512.39 = 102.47 euro profit required. 7. $2150 / 1.5 = $1433.33 paid to dist. 8. $1433.33 / 1.4 = $1023.81 paid to imp. 9. $1023.81 / 1.3 = $787.55 paid to exp. 10. $787.55 / 1.4 = 562.53 euros : exp. Price. 11. 562.53 – 102.47 = 460.06 euros new unit cost required (455 – 465 is okay)....
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