Question 1

A South African firm has contracted to sell a U.S. firm goods valued at 200,000 rand. The rand is valued at $10.4150. Compute the value of the shipment in U.S. dollars.​

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Question 2

A major chain of department stores has contracted to purchase from a foreign manufacturer 200 large radios at $36 each and 150 small radios at $22 each. An ad valorem duty of 16% is charged on all radios. Compute the duty the purchaser will pay.​

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Question 3

On a certain date the U.S. dollar is valued at 5.7757 per Danish krone and 0.528821 per British Pound. Compute how many more krone than pounds a U.S. citizen would get for $100 U.S. currency. (Round to nearest whole number.)​

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Question 4

ABC, Inc. plans to purchase 250 units of a certain component used in building computers in their U.S. factory. ABC, Inc. can purchase the components from country X at a price of $45 each plus an ad valorem duty of 38%, or from country Y at a price of $60 each plus an ad valorem duty of 3%. Compute the amount ABC, Inc. will save by purchasing from country Y.​

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Question 5

XYZ, Inc. plans to purchase 460 units of a certain component used in building computers in their U.S. factory. XYZ, Inc. can purchase the components from country A at a price of $42 each plus an ad valorem duty of 42%, from country B at a price of $54 each plus an ad valorem duty of 2%, or from a domestic manufacturer at a price of $51 each. They take the lowest bid. Compute the amount the 460 units will cost XYZ, Inc.​

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Question 6

Global Concerns, Inc. has contracted to sell certain goods to a company in Australia. The Australian company has contracted to pay 500,000 Australian dollars for the shipment. At the time the contract was signed, the Foreign Currency in dollars column in the financial section of the morning paper showed that one Australian dollar was valued at $0.903497 U.S. currency. Between the date the contract was signed and the date on which payment was received, the Australian dollar fell to a value of $0.8740. Compute the amount Global Concerns gained or lost by agreeing to accept payment in Australian dollars instead of U.S. dollars.​

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Question 7

Fast Manufacturing, Inc. has contracted to sell certain goods to a company in Finland. The price agreed upon for the goods is 500,000 euro. On the date the contract was signed, the euro was valued at $1.30. If the value of the euro fell from $1.30 to $1.25 on the date of payment, compute how much Fast Manufacturing, Inc. lost by contracting in euro instead of U.S. dollars.​

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Question 8

GarciaHariss, Inc. plans to purchase 500 units of a certain component used in building cell phones in their U.S. factory. GarciaHariss, Inc. can purchase the components from country A at a price of $32 each plus an ad valorem duty of 32%, from country B at a price of $45 each plus an ad valorem duty of 4%, or from a domestic manufacturer at a price of $41 each. They take the lowest bid. Compute the amount the 500 units will cost GarciaHariss, Inc.​

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Question 9

A German firm has contracted to sell a U.S. firm goods valued at 140,000 euro. The euro is valued at $1.45. Compute the value of the shipment in U.S. dollars.​

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Question 10

Madison Manufacturing, Inc. has contracted to sell certain goods to a company in Malaysia. The price agreed upon for the goods is 320,000 Malaysian Ringgits. On the date the contract was signed, the Foreign Currency in dollars column in the financial section of the local paper showed that the Malaysian Ringgit was valued at .309502. Compute the U.S. dollar value Madison Manufacturing, Inc. expects to receive for the goods. (Round to nearest dollar.)​

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Question 11

Green's Manufacturing, Inc. has contracted to sell certain goods to a company in Norway. The price agreed upon for the goods is 150,000 Norwegian kroners. On the date the contract was signed, the Foreign Currency in dollars column in the financial section of the local paper showed that the Norwegian krone was valued at .185028. If the Norwegian krone rose to .1950 on the date of payment, compute how much Green's Manufacturing, Inc. gained by contracting in Norwegian kroners instead of U.S. dollars.​

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Question 12

A U.S. company located in a foreign trade zone imported $1,500,000 worth of goods. The duty rate on the goods is 7%. If 20% of the goods were moved into U.S. Customs territory for sale and 80% were exported for sale, compute how much the company saved by being located in a foreign trade zone.​

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Question 13

Princess Jewelry, Inc. has contracted to purchase 144 bracelets from a foreign manufacturer. The price of each bracelet is $32. An ad valorem duty of 20% is charged on each bracelet. Compute the duty Princess Jewelry, Inc. will pay for the shipment.​

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Question 14

​Great Manufacturing, Inc. has contracted to sell certain goods to a company in Austria. The price agreed upon for the goods is 900,000 euro. On the date the contract was signed, the euro was valued at $1.29. If the value of the euro rose from $1.29 to $1.30 on the date of payment, compute how much Great Manufacturing, Inc. gained by contracting in euros instead of U.S. dollars.

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Question 15

​White's Manufacturing, Inc. has contracted to sell certain goods to a company in the Netherlands. The price agreed upon for the goods is 94,000 Netherlands guilders. On the date the contract was signed, the Foreign Currency in dollars column in the financial section of the local paper showed that the Netherlands guilder was valued at 0.4184. Compute the U.S. currency value White's Manufacturing, Inc. expects to receive for the goods. (Round to the nearest whole dollar.)

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Question 16

Roger's Manufacturing, Inc. has contracted to sell certain goods to a company in Saudi Arabia. The price agreed upon for the goods is 250,000 Saudi Arabian riyals. On the date the contract was signed, the Foreign Currency in dollars column in the financial section of the local paper showed that the Saudi Arabian riyal was valued at .2267. If the value of the Saudi Arabian riyal fell from .2267 to .2006 on the date of payment, compute how much Roger's Manufacturing, Inc. lost by contracting in Saudi Arabian riyals instead of U.S. dollars.​

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Quiz 20: International Business

A South African firm has contracted to sell a U.S. firm goods valued at 200,000 rand. The rand is valued at $10.4150. Compute the value of the shipment in U.S. dollars.​

A major chain of department stores has contracted to purchase from a foreign manufacturer 200 large radios at $36 each and 150 small radios at $22 each. An ad valorem duty of 16% is charged on all radios. Compute the duty the purchaser will pay.​

On a certain date the U.S. dollar is valued at 5.7757 per Danish krone and 0.528821 per British Pound. Compute how many more krone than pounds a U.S. citizen would get for $100 U.S. currency. (Round to nearest whole number.)​

A German firm has contracted to sell a U.S. firm goods valued at 140,000 euro. The euro is valued at $1.45. Compute the value of the shipment in U.S. dollars.​

A U.S. company located in a foreign trade zone imported $1,500,000 worth of goods. The duty rate on the goods is 7%. If 20% of the goods were moved into U.S. Customs territory for sale and 80% were exported for sale, compute how much the company saved by being located in a foreign trade zone.​

Princess Jewelry, Inc. has contracted to purchase 144 bracelets from a foreign manufacturer. The price of each bracelet is $32. An ad valorem duty of 20% is charged on each bracelet. Compute the duty Princess Jewelry, Inc. will pay for the shipment.​

A South African firm has contracted to sell a U.S. firm goods valued at 200,000 rand. The rand is valued at $10.4150. Compute the value of the shipment in U.S. dollars.

A major chain of department stores has contracted to purchase from a foreign manufacturer 200 large radios at $36 each and 150 small radios at $22 each. An ad valorem duty of 16% is charged on all radios. Compute the duty the purchaser will pay.

On a certain date the U.S. dollar is valued at 5.7757 per Danish krone and 0.528821 per British Pound. Compute how many more krone than pounds a U.S. citizen would get for $100 U.S. currency. (Round to nearest whole number.)

A German firm has contracted to sell a U.S. firm goods valued at 140,000 euro. The euro is valued at $1.45. Compute the value of the shipment in U.S. dollars.

A U.S. company located in a foreign trade zone imported $1,500,000 worth of goods. The duty rate on the goods is 7%. If 20% of the goods were moved into U.S. Customs territory for sale and 80% were exported for sale, compute how much the company saved by being located in a foreign trade zone.

Princess Jewelry, Inc. has contracted to purchase 144 bracelets from a foreign manufacturer. The price of each bracelet is $32. An ad valorem duty of 20% is charged on each bracelet. Compute the duty Princess Jewelry, Inc. will pay for the shipment.