SUMMATIVE TEST IN ENTREPRENEURSHIP G10

2nd Grading Period

School Year 2021-2022
Name:_____________________________________ Date:________________________________
Grade 10- Section:_________________________ SCORE:______________________________

I. MULTIPLE CHOICE.. Encircle the letter of the correct answer.

1. This is the time when you need to decide to maintain your production.
a. When the TR is equal to TC c. When the TR is lesser than TC
b. When the TR is greater than TC d. When the TR is equal to TR
2. It refers to the situation when you need to decide to produce more when the .
a. TR is equal to TC c. TR is lesser than TC
b. TR is greater than TC d. TC is equal to TC
3. If you have 10 jackets for P165.00 unit cost, how much will be the unit price
at 37% Target Profit in Percent (TPP)?
a. P272.00 b. P295.00 c. P226.05 d. P227.05
4. Which of the following statement intended for the Target Goal?
a. To decline the net income daily c. To decrease the total sales
b. To earn a profit of Php. 516.00 daily. d. To shut down the business
5. With 8% discount incentive, what will be the unit price of 12 kilos laundry
if the service is P51 per kilo?
a. P536.04 b. P564.04 c. P563.04 d. P536.04
6. What is the effect in business when the TR is lesser than the TC?
a. There is a business loss c. There is no gain and no loss
b. There is a profit d. There is a decline in the net sales
7. In a laundry shop, when do you give a discount of 10%?
a. 5 to 12 kilos of laundry c. 13 kilos of laundry and above
b. 10 to 13 kilos of laundry d. 12 kilos of laundry only
8. It refers to the value sets for rendering a service or product for sale or the amount paid for
commodities.
a. cost b. price c. profit d. mark-up
9. How much is the price of a bottle of perfume when the cost is P250.00 with 38%TPP.
a. P380.00 b. P299.00 c. P345.00 d. P345.00
10. What type of costing is the direct labor cost and raw material in
production?
a. direct cost b. indirect cost c. purchasing cost d. Expenses
11. Expenses on building, machines, maintenance, salaries, office costs, selling
cost and financial costs are better known as overhead expenses. Which of
the following costing does it fall?
a. direct cost b. indirect cost c. purchasing cost d. Net Sales
12. It refers to the margin or difference between the cost price and the
selling price of an item.
a. mark-up b. revenues c. sales profit d. loss
13. What is the effect in business when the TR is equal to TC?
a. There is a business loss c. There is no gain and no loss
b. There is a profit d. There is decrease in the Total Sales
14. Which of the following is the meaning of the acronym BUTRUD?
a. Business Tray Run Design c. Business Thumb Run Design
b. Business Take Ray Design d. Business Trial Run Design
15. It refers to the pricing system wherein the government becomes
alert against those who are abusing and making unreasonable prices.
a. Pricing Control c. Price Index
b. Pricing Strategy d. Price Discount
II. Compute for the cost and analyze the following problems. Write your answers inside the box. Show
the solution in a separate sheet to arrive at the correct answers. ( 3 points each )
( Extra Sheet of paper for the SOLUTION )
 1. If you have two (7) workers receiving each a daily wage of P475.00 a day, with 6 working
days a week, how much is your total wage bill for one and a half month? ANSWER/SOLUTION:
2. Unit Cost of Product (UCP),
School Uniform = P365.00
Target Profit in Percent (TPP) =65% COMPUTATION
COMPUTE: Unit Price
ANSWER/SOLUTION:
3. Hours needed to complete a wood bench (it takes only 9 workers, each consuming 8 hours a
day to do it):
COMPUTE: TOTAL NUMBER OF HOURS AFTER 6 DAYS
ANSWER/SOLUTION:
4. Compute how much will be the price of a bottle of cologne when the cost is
P3150.00 with 41%TPP?
ANSWER/SOLUTION:
5. With 25% discount incentive, what will be the unit price of 13 kilos laundry if the service
is P38 per kilo?
ANSWER/SOLUTION:

III. Compute for the TOTAL COST and DIRECT MATERIAL COST PER BENCH and analyze the following
problems. Write your answers inside the box. Show the solution in a separate sheet to arrive at the
correct answers. ( 2 POINTS EACH )
BILL of MATERIALS of 1 WOODEN BENCH
Unit Cost Total Cost
Quantity Description
11 pcs. 2”x2”x8’ (leg) P57.50 632.5
7 pcs. 1”x3”x10’ (frame) 43.60 305.2
15 pcs. 1.5”x2”x6’ (brace) 51.00 765
25 btls Plastic varnish 87.50 2,187.5
1 ½ kl. 2” finishing nails 71.00 106.5
9 btls wood glue 37.00 333
DIRECT MATERIAL COST PER BENCH

IV. Given the following nominal values of revenues and costs, decide whether you need to produce
more, stop your production or maintain production of goods or services. Draw an upward (↑) arrow
if your answer is to produce more; downward arrow (↓) when you need to stop and draw a smiley face
(☺) when your decision is to maintain production.
BUSINESS TR TC ENTREPRENEUR’S DECISION
NO.
NAME (INCOME) (EXPENSES)
1 1 A Company 1.005 1.005
2 1 B Company 5,090 6,090
3 1 C Company .2500 1.00
4 1 D Company 4,709 4,907
5 1 E Company .75 .5000
6 1 F Company 1,001 1,101
7 1 G Company .001 .010
8 1 H Company .10 .009
9 1 I Company 1 .119
10 1 J Company .90 1.0

Prepared by: Checked by: Noted by:

RICHARD A. MIGUEL MAYROSE P. GARCIA ALEXANDER R. AMIGO

Teacher III TVE Department Head Principal I

CARINA B. CORTES, PhD

Master Teacher I