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Quiz 3
Quiz 3
Quiz 3
10 %
Course Instructor Quiz Date Total Marks /15
Please, use the attached cost sheet to make your calculations, show all
calculations,
Round your final answer to the nearest dollar amount; then, put the final price to
the nearest $5 amount.
Costs CAD$ US$ Notes
Cost Cost
Cost [EXW] Ex-warehouse $250
Trucking (freight to dock) $5
Cost to Dock $255 $250 + $5 = $255
Wharfage and Handling $4
Cost FAS (beside vessel) $259 $255 + $4 = $259
Finance Charge $6.48 $259 * 2.5% = $6.48
Profit Margin $18.58 $259 + $6.48 * 7% =
$18.58
Agent’s Commission $1
Price FOB $285.06 $259 + $6.48 + $18.58 +
$1 = $285.06
Convert to US$ $228.05 $285.06 / $1.25 =
( move to new column ) $228.05
Ocean Freight $50
Price [CFR] C&F $278.05 $228.05 + $50 = $278.05
Marine Insurance $3.06 $278.05 * 110% * 1% =
$3.06
Total [CIF] CIF $281.11 $278.05 + $3.06 =
$281.11
Round to the nearest US$ $281
Round to the nearest US$5 $280