BAMA 1101 HCT Price of Paint in Shop A & B Is Different Discuss With Reason Ques BUSINESS MATHEMATICSsee file attachedanswers should be in word file…….

BAMA 1101 HCT Price of Paint in Shop A & B Is Different Discuss With Reason Ques BUSINESS MATHEMATICSsee file attachedanswers should be in word file………………………….. HIGHER COLLEGE OF TECHNOLOGY
DEPARTMENT: BUSINESS STUDIES
Final Examination: Assignment Based Assessment
Semester: II
A. Y.: 2019 / 2020
Start Date: Friday, 29 May
Time: 03.00 PM
Due Date: Sunday, 31 May
Time: 03.00 PM
Student Name
Student ID
Specialization
Section
01 to 11
Level
DIPLOMA FIRST YEAR
Course Name
BUSINESS MATHEMATICS
Course Code
BAMA1101
For official Use Only
Question No.
Max. Marks
1
Obtained Marks
Question No.
Max. Marks
5
1
5
2
5
2
5
3
5
3
5
4
5
4
5
5
5
5
5
6
5
6
5
7
5
7
5
8
5
8
5
9
5
9
5
10
5
10
5
Grand Total Marks
50
Obtained Marks
50
First Marker:
Second Marker:
Date:
Date:
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Guidelines for Students to Submit the Assignment:
1)
The final assessment for semester 2, 2019-20 will be done through comprehensive assignment
for a maximum of 50 marks. The schedule of the final assessment is available in the college website.
https://www.hct.edu.om/about/the-college/announcements/final-assessment-timetable-041620
2)
All the students are expected to have only one assignment at one time. In case, if the students
have more than one assignment on the same day, please report to the exam committee through the
following mail id. exam.bus@hct.edu.om as soon as possible.
3)
All students are given 48 hours to complete and submit each assignment from the day, date and
time the assignment is uploaded. Students are advised not to wait till the last moment of the deadline
to submit the assignment.
4)
The students can check the assignment anytime and any number of times from the opening of
the assignment. The answer to the assignment need to be uploaded in e-learning within 48 hours.
5)
The answer to the assignment can be uploaded only one time. No requests for resubmission of
the assignment will be entertained.
6)
The students may contact the following mail Ids if they face any difficulties while related to
final assignment.
For Academic related support :
Business Courses
anand.kalimani@hct.edu.om
karri.krishna@hct.edu.om
For Technical Writing 1
ramil-ecot@hct.edu.om
For Technical Writing 2
khulood.aiadi@hct.edu.om
For Technical Communication
jocelyn.balili@hct.edu.om
For issues related to e-mail
office365support@hct.edu.om
accounts and Microsoft Teams
Any issues related to E-Learning
support.elearning@hct.edu.om
Moodle
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Any other IT Troubleshooting
7)
helpdesk2@hct.edu.om
Students may contact their respective lecturer through college email (within the 48-hour period
given) if they have any doubts and clarifications on the assignments.
8)
Students should be aware that this assignment is an independent assessment. Students are not
allowed to get help from any other person during the assessment period.
9)
Students assignment will be checked for plagiarism through Turnitin software. This assignment
will be assessed as per the College Assessment Policy. Student will be investigated in case of
plagiarism as per the College policy and procedures. The maximum acceptable similarity index is
25%.
10) In case the students face any technical issues regarding the submission of assignment, the
answer to the assignment can be mailed to the concerned lecturer within the 48-hour period using
college email.
11) Any assignment submitted after the 48-hour period will not be considered for evaluation.
12) The assignment should be submitted only with the file in MS Word document. No other format is
acceptable at all (e.g. pictures, JPEG, PDF, etc).
13) The students need to answer the assignment in the prescribed number of words as mentioned in
the assignment.
14) The students need to follow the following format while preparing the assignment :
Font Style: Times New Roman
Font Size: 12 point for body and 14 point for Headings
Line Spacing: 1.5
Margin: 2.54cm (One inch) on all the sides
Page Number : At the bottom right hand corner of each page
Colour: All words should be in black colour
15) Students who will fail to submit their assignment as per the deadline given are required to make
an online appeal along with the valid excuses as the guidelines which will be announced through the
college website or e-learning portal within three days from the date of submission deadline.
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ANSWER ALL THE QUESTIONS, SHOW ALL CALCULATIONS, WORKING NOTES AND
EXPLANATION (EACH QUESTION WILL CARRY 05 MARKS)
Q 1: Al Rawabi Manufacturing LLC , is a leading chair manufacturing company in Muscat.
Mr. Rashid, who has recently joined as a production supervisor would like to calculate the
total cost of producing 500 chairs in a month. Records show that material cost of producing
one chair is RO 2 while labor cost per chair is RO 2 and other manufacturing cost is also RO 2
per unit. The company pays RO 2000 per month as a rent and Mr. Rashid found that there are
no other expenses.
a) Discuss what would be total cost if Al Rawabi produces 500 chairs in a month.
b) Rent should be considered in the total cost. Discuss with reasons
c) Also compare the total cost of Al Rawabi LLC with the total cost of the another
company Al Maha Furniture Pvt. Ltd if Al Maha incurs same cost and pays rent RO
3000 per month for producing 500 chairs in a month.
( 2+1+2=05 Marks)
Q 2: Al Maha Engineering Company has bought a machinery for RO 50,000 with an estimated
useful life of 4 years. Mr. Bashir, an Accounting Manager, is responsible to calculate the
depreciation to record in the books of accounting. He is confused in selecting the method of
depreciation like WDV or Straight line method. He came to know that the expected scrap value
at the end of its useful life is RO 10,000.
a) Why should Al Maha company record depreciation in the books of accounts?
b) What would be book value of the machinery at the end 4 years using WDV method and
Straight line method.
c) Also comment on the depreciation method that is more suitable for the accounting
purpose
d) What is the scrap value of the machine? Discuss
(1+2+1+1= 05 Marks)
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Q 3: As per the official records of equity share prices published by Muscat Securities Market
(MSM) on 17 April 2020, following companies are the top gainers of the day. Al Bayan
Investment company is interested in investing 1000 OMR in the equity shares of that company
which has highest gain (in percentage) over the previous share price.
Company
Price (RO)
Increase
in
price
(RO)
GULF INTERNATIONAL CHEMICALS
0.099
0.009
BANK DHOFAR
0.105
0.006
VOLTAMP ENERGY
0.151
0.005
AL JAZEERA STEEL PRODUCTS
0.099
0.001
OMAN UNITED INSURANCE
0.306
0.002
a) What do you mean by gain in the above example?
b) Which company shares you will suggest Al Bayan Investment company to buy? Give
reason to your answer
c) Do you agree with Al Bayan company’s decision to invest in the company shares based
on one day price gain. Discuss critically
(1+2+2=05 Marks)
Q 4: Mr. Omar deposited RO 5000 in a fixed deposit at 5 % interest compounded semiannually for 5 years. At the beginning of year 3, he deposited an additional RO 2000 at 7 %
rate of interest compounded quarterly.
a) What will be the total balance in his account after 5 years?
b) Simple interest and compound interest method generate different amount of interest.
Discuss and give reason to your answer
c) If Omar would have deposited the same amount for the same period and at the same
rate of simple interest, how much amount he would have got at the end of 5 years?
(1+2+2=05 Marks)
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Q5: Mr. Ibrahim a Wholesaler buys a product from the Al bayan manufacturing company at
RO 700 and pays VAT at the prescribed rate of 10%. ABC LLC, a retailer buys a product
from the wholesaler at RO 800 and the wholesaler charges VAT at the prescribed rate of 10%.
The retailer fixes the price at RO 1000 and charges VAT at the same rate.
Mr. Hatim buys the product from the ABC LLC.
(5Q*01M= 05 Marks)
a) What is the price including VAT that Mr. Hatim has to pay to buy the Product?
b) What is input tax and output tax? Discuss
c) Find out amount of output tax for the retailer and wholesaler.
d) How much VAT does the retailer pay to the government?
e) VAT is different from sales tax system. Explain and give reason to your answer
Q6: Mr. Ibrahim goes to the Al Maha Hypermarket to buy the ready-made custard. There he
found that offer is going on a pack of three 425 gm tins for RO 1.450. The hypermarket also
sells the same brand of custard in 1 kg cartons costing RO 1.290 each. He is confused and does
not understand which one will be more cheaper in terms of price.
a) You are required to help him in taking the buying decision.
b) What is the intention of the Retailer/hypermarket to give offer to the customer? Discuss
(3+2=05 Marks)
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Q7: Al Madina School, Muscat are having 1500 students consisting 800 girls and 700 boys.
There are total 60 teachers working in which 35 are female teachers and 25 are male. Also 20
administrative staff working in the school administration.
(05Q*01 Mark = Total 05 Marks)
a) Is there any difference between ratio and fraction? If yes, give reason for your answer
b) If school recruits another 10 male teachers, ratio of male teachers to male students will
be changed. Discuss and give reason to your answer
c) What is the ratio of administrative staff to female teachers
d) If there are 100 girl students studying in the school, how many male students would be
studying?
e) If there are 150 male students studying in the school, how many girl students will be
studying in the school?
Q8: Zainub Al Bulushi, a professional consultant has recently bought the new office. She went
to the Extra Electronics to buy the Air Conditioner for her office. The Extra has wide range of
AC’s but she selects LG extra cool model. The product was priced RO 350 and Extra was
offering 10% discount on the selling price. During the conversation with sales person, Zainub
came to know that Extra had bought this AC from the manufacturer for RO 300. Finally she
decided to buy the AC.
(05Q*01=05 Marks)
a) What is markup and how it useful in deciding the price of the product? Discuss
b) What is the Extra’s markup rate on cost and how much is the markup amount?
c) What do you mean by discount and how discount is useful tool for the seller?
d) How much amount Zainub paid to buy the AC?
e) If Extra’s rate of markup is 20% on cost, what would be the selling price of the AC?
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Q9: Mr. Salim and Mr. Ahmed both are working in a Alpha construction company. They are
paid RO 5 per hour based on hourly rate, for 35 hours per week. According to the agreement,
they are eligible for overtime (time-and-a-half pay).
In the last month, if Salim worked for 160 hours and Mr. Ahmed worked for 180 hours.
a) How much gross pay both will receive?
b) Is there any difference between hourly pay and monthly pay? If yes, Discuss
c) Do you think over time should to be given to the workers. If yes, give reason to your
answer
(3+1+1=05 Marks)
Q10: Imran wants to repaint his entire house. He wishes to paint white colour for interior and
brown colour for exterior. His painter estimates that 5 litres of paint could cover an area of 12
square meters. Total interior area of the house is 684 square meters and exterior is 252 square
meters.
He enquired the price, Shop-A sells 10 litres of paint tin for OMR 8.150 and Shop-B sells 12
litres of paint tin for OMR 9.950.
Answer the following questions:
(5Q*1M=5 Marks)
a) The price of a paint in shop A and B is different. Discuss with reason
b) Find out how many litres of white colour paint is needed.
c) Find out how many litres of brown colour is needed.
d) If a paiter paints 24 square meter every day, how many days he will take to paint the
interior area of the house?
e) If Mr. Imran postpones his decision to paint the house for another 02 years, can he
paint the house with same cost? Discuss with reason
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