ASSIGNMENT 2 (TOTAL 30 MARKS) 1. If one Canadian dollar is equivalent to US$0.8150, how much do you need in Canadian funds to buy US$800.00? (2 marks) A bicycle was sold for $282.50. The selling price included 13% harmonized sales tax. Find the amount of HST on the bike. (2 marks) A microwave oven originally advertised at $220 is reduced to $209 during a sale. By what percent was the price reduced? (2 marks) I B earns $16. 60 an hour with timeand a half for hours worked over 8 a day. His hours for a week are 8.25, 8. 25, 9. 5, 11. 5, and 7. 25. Determine his gross earnings for that week. (2 marks) Mahal of Winnipeg, Manitoba, bought a ring for $6400. Since the jeweller is shipping the ring, she must pay a shipping charge of $20. She must also pay GST (5%) and PST (8%) on the ring. Determine the total purchase price of Mahal's ring. (2 marks) The Superior Iumpdrive Company sells jump drives for $10 each. Manufacturing cost is $2.60 per jump drive; marketing costs are $2.40 per jump drive; and royalty payments are 20% of the selling price. The fixed cost of preparing the jump drive is $18 000. Capacity is 15 000 jump drives. a. Compute i. the contribution margin; (2 marks) ii. the contribution rate. (2 marks) b. Compute the break-even point i. in units; (2 marks) ii. in dollars; (2 marks) iii. as a percent of capacity. (2 marks) Draw a detailed breakeven chart. (2 marks) d. Determine the break-even point in units if xed costs are increased by $1600, while manufacturing cost is reduced by $0.50 per jump drive. (2 marks) e. Determine the break-even point in units if the selling price is increased by 10%, while xed costs are increased by $2900. (2 marks) E" Determine the net price of an article listed at $590 less 37.5%, 12.5%, and 81/3% (2 marks) An invoice for $3200, dated March 20, terms 3/ 10 E.O.M., was received March 23. What payment must be made on April 10 to reduce the debt to $1200 (2 marks)