OPMT_1110_CHAPTER_1_IN_CLASS_QUESTION_SOLUTIONS_ON_RATIOS (1)OPMT 1110

Chapter 1 Ratio, Proportion, and Percent: Solution set RATIO IS A RELATIONSHIP BETWEEN TWO VARIABLES (A/B or A:B) Example: No of students per teacher, earnings per share 1) Set up a ratio to represent the following: 10 quarters (.25) to 12 dimes (.10) to 16 nickels (.05) Answer: 250 : 120 : 80 25 : 12 : 8 2) Set up a ratio to represent the following: one-half of an hour to 18 minutes Answer: 30 : 18 DIVIDE EACH SIDE BY A COMMON TERM. IN THIS CASE, COMMON TERM = 6. BOTH SIDES ARE DIVISIABLE BY THE COMMON TERM 5 : 3 3) At Upscale Corporation, direct selling expense amounted to $3500 while sales volume was $97 500 for last month. What is the ratio of direct selling expense to sales volume? Answer: = =  Direct selling to total sales ratio 4) The cost of a unit is made up of $7.25 direct material cost, $4.75 direct labour cost, and $3.50 overhead. What is the ratio that exists between the three elements of cost? Answer: Direct material : direct labor : overhead A:B:C 3 way ratio FIRST, GET RID OF THE DECIMALS BY MULTIPLYING EACH NUMBER BY “10” THEN DIVIDE EACH TERM BY A COMMON FACTOR NUMBER 25 = $7.25 $4.75 $3.50 = 725 : 475 : 350 = 29 : 19 : 14 5) The cost of a unit is made up of $120.00 direct material cost, $80.00 direct labour cost, and $20.00 overhead. What is the ratio that exists between the three elements of cost? Answer: Direct material : direct labor : overhead = $120.00 $80.00 $20.00 = 120 : 80 : 20 = 6 : 4 : 1 6) Departments A, B, and C occupy floor space of 310, 120 and 475 square meters respectively. If the total rental for the space is $38 225.00 per month, how much rent should be paid by Department B? Answer: Price per square meter = = $42. Amount paid by B = 120 × price per squa