SYLLABUS FOR CONSUMER MATH

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1 SYLLABUS FOR CONSUMER MATH Textbook: Mathematics with Business Applications -- Glencoe, copyright 2004 Authors: Walter H. Lange and Temoleon G. Rousos Description: Consumer Math focuses on basic math skills needed in daily life. These skills include income, insurance, taxes and tax preparation, recordkeeping and budgeting, loans, credit cards, house and vehicle expenses, and investments. Through daily work in the book or outside resources these skills are learned while showing their importance to life. Tests are given at the end of each chapter. However, due to breaks, testing, weather, activities, etc. there may be a test over more than one chapter.. Course Objectives: The Consumer Math course is designed to prepare students for daily living beyond school. The course will cover a variety of areas that you deal with in life such as taxes, loans, housing costs, vehicle costs, and budgeting. These skills are covered in simple examples that show the basic ideas of what to do and look for when choosing insurance or investments as an example. Supplemental material such as graphing calculators, excel, guest speakers, trips to businesses, and worksheets is used throughout the course to solidify the importance of the math skills needed for daily living. Kansas College and Career Ready Standards (Common Core) are found at the following site: Course Outline: Subject to change due to the reasons listed above. I. Basic Math Skills A. Workshops II. Personal Finance A. Gross Income 1. Hourly Pay 2. Overtime Pay 3. Weekly Time Card 4. Piecework 5. Salary 6. Commission 7. Graduated Commission

2 B. Net Income 1. Federal Income Tax 2. State Income Tax 3. Graduated State Income Tax 4. Social Security and Medicare Taxes 5. Group Health Insurance 6. Statement of Earnings C. Recording 1. Average Monthly Expenditures 2. Preparing a Budget Sheet 3. Using a Budget D. Checking Accounts 1. Deposits 2. Writing Checks 3. Check Registers 4. Bank Statements 5. Reconciling the Bank Statement 6. Online Banking E. Savings Accounts 1. Deposits 2. Withdrawals 3. Account Statements 4. Simple Interest 5. Compound Interest 6. Compound Interest Tables 7. Daily Compounding 8. Annuities F. Cash Purchases 1. Sales Tax 2. Total Purchase Price 3. Unit Pricing 4. Comparison Shopping 5. Coupons and Rebates 6. Markdown 7. Sale Price G. Charge Accounts and Credit Cards 1. Account Statements 2. Finance Charge: Unpaid-Balance Method 3. Finance Charge: Average-Daily Balance Method (No New Purchases) 4. Finance Charge: Average-Daily Balance Method (New Purchases) H. Loans

3 1. Single-Payment Loans 2. Installment Loans 3. Simple Interest Installment Loans 4. Installment Loans Allocation of Monthly Payment 5. Paying Off Simple Interest Installment Loans 6. Determining the APR I. Vehicle Transportation 1. Purchasing a New Vehicle 2. Dealer s Cost 3. Purchasing a Used Vehicle 4. Vehicle Insurance 5. Operating and Maintaining a Vehicle 6. Leasing a Vehicle 7. Renting a Vehicle J. Housing Cost 1. Mortgage Loans 2. Monthly Payment and Total Interest 3. Closing Costs 4. The Monthly Payment 5. Real Estate Taxes 6. Homeowners Insurance 7. Homeowners Insurance Premium 8. Other Housing Costs K. Insurance 1. Health Insurance Premiums 2. Health Insurance Benefits 3. Term Life Insurance 4. Other Types of Life Insurance L. Investments 1. Certificates of Deposit 2. Effective Annual Yield 3. Stocks 4. Stock Dividends 5. Selling Stocks 6. Bonds III. Business Math A. Personnel 1. Hiring New Employees 2. Administering Wages and Salaries 3. Employee Benefits 4. Disability Insurance 5. Workers Compensation and Unemployment Insurance 6. Travel Expenses

4 7. Employee Training B. Production 1. Manufacturing 2. Break-Even Analysis 3. Quality Control 4. Time Study Number of Units 5. Time Study Percent of Time 6. Packaging C. Purchasing 1. Trade Discounts 2. Trade Discount Complement Method 3. Trade Discount Rate 4. Chain Discount 5. Chain Discounts Complement Method 6. Cash Discounts Ordinary Dating 7. Cash Discounts EOM Dating D. Sales 1. Markup 2. Markup Rate 3. Net Profit 4. Net Profit Rate 5. Determining Selling Price Markup Based on Selling Price 6. Markup Rate Based on Cost 7. Determine Selling Price Markup Based on Cost 8. Markdown E. Marketing 1. Opinion Surveys 2. Sales Potential 3. Market Share 4. Sales Projections 5. Sales Projections Factor Method 6. Newspaper Advertising Costs 7. Television Advertising Costs 8. Pricing F. Warehouse and Distributing 1. Storage Space 2. Taking an Inventory 3. Valuing an Inventory 4. Carrying an Inventory 5. Door-to-Door Transportation Cost 6. Transportation by Truck G. Services

5 1. Building Rental 2. Maintenance and Improvement 3. Equipment Rental 4. Utilities Costs Telephone 5. Utilities Costs Electricity 6. Professional Services H. Accounting 1. Payroll Register 2. Business Expenses 3. Apportioning Expenses 4. Depreciation Straight Line Method 5. Depreciation Book Value 6. Modified Accelerated Cost Recovery System (MACRS) I. Accounting Records 1. Assets, Liabilities, and Equity 2. Balance Sheet 3. Cost of Goods Sold 4. Income Statement 5. Vertical Analysis 6. Horizontal Analysis J. Financial Management 1. Corporate Income Taxes 2. Issuing Stocks and Bonds 3. Borrowing 4. Investments Treasury Bills 5. Investments Commercial Paper 6. Growth Expenses K. Corporate Planning 1. Inflation 2. Gross Domestic Product 3. Consumer Price Index 4. Budget

Algebraic Business Calculations Course Summary Department: Career and Technical Education Business. Semester 1

Algebraic Business Calculations Course Summary Department: Career and Technical Education Business Semester 1 Learning Objective #1 After completion of this objective, students will be able to: Demonstrate