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Jan. 19. She gave the grocer a check for $10.00 to apply on her account.
Jan. 20: Bread 30; rice 30.
Jan. 24: Pears 18; kerosene, 5 gal., $1.00; fresh eggs 70; apples 36; cheese 34; bread 30.
Jan. 26: Pork and beans 20; oatmeal 15; coffee 55.
Jan. 31: Prunes 54; bread 30; bacon 42; cocoa 22; lux 15; potatoes 65.
1. At the end of the month the grocer sent the following monthly statement. Add up the amounts of each sales slip and compare these amounts with the items of the monthly statement.
ALL BILLS DUE FIRST OF MONTH FOLLOWING PURCHASE
STATEMENT OF YOUR ACCOUNT
FOR THE MONTH OF
msa CL Hardy
NO. OF SALES-SLIP
119 124 /72 Z02 765 2140 722 779 770 /08 254
243 445 SIT 6182 9122
z 8 10 12 13 14 16 17 19 20 23 24 26 28 3/
34 IZ 30
60 737 2 88
90 87 229
12/23 13133 1447 7695 695 7155 892 1180 1270 1357 1585
Notice on the monthly statement that the charge for each sales slip is added to the balance for the preceding day to get the balance for that day. To that balance is added the charge for the succeeding day to obtain the balance due for that day.
2. Check the charges and balances in this way to see if the computations on the monthly statement are correct.
On January 19, Mrs. Hardy gave the grocer a check1 for $10.00 to apply on her account. The credit for this amount is shown in the monthly statement. The following form shows how she filled in the check:
21000 No 5
1920 No. 5 TE FIRST XDIQXAL RANK 19-232
1920 To H.A.Marden For Groceries
Bar bare ford 1776 87 Hämarden
Total 14687 Are thesduct
10oo Balandford 43687
Clara L. Hardy
3. On a blank form, obtained from your bank or ruled by hand, make out a check for the balance due on Mrs. Hardy's January account with Mr. Marden. Sign your name to the check just as if you were paying the bill for Mrs. Hardy.
The stub, at the left, from which the check is detached shows Mrs. Hardy to whom and for what purpose she paid the money and contains a record which shows her how much money she has left in the bank.
When the monthly balance is paid, the monthly statement is receipted by marking it paid as shown at the bottom of the statement.
INote that in signing the check the full name is used. “Mrs." is not regarded by banks as properly a part of a signature.
Exercise 5. Economy in Buying
Why can a merchant afford to sell goods in large quantities cheaper than in small quantities? (Consider cost of delivery, cost of wrapping up packages both in time and material, saving of time in uncrating goods, etc.) Why is it more economical for the grocer when customers give large orders every two or three days than a small order every day? Why can a grocer sell at lower prices under a cash system than under a credit system? (Consider interest on money and bad debts.)
1. How much can you save by buying apples at $3.00 per box (marked 40 pounds net) instead of buying the same amount of apples in small quantities at 10 cents a pound?
2. Mrs. Derby found that she could buy her favorite soap at 10 bars for 79 cents at one store. Another store charged 9 cents a bar. If she used approximately 150 bars in a year, how much could she save in a year on soap by buying it at the first store?
3. Mr. Carey noticed in reading an advertisement that he could get a box of 80 grapefruit at a special sale for $4.00. This size of grapefruit sold at 8 cents each at the store where he usually traded. How much would he save on 80 grapefruit by buying them by the crate at the special sale?
4. If a family uses 24 lead pencils a year, how much will they save by buying them in boxes containing 12 pencils at 50 cents a box instead of paying 5 cents each for them?
When the same goods are put up in packages or cans of different sizes, note both the net weight and the price of each to see which is the cheapest.
5. Crisco was quoted at one store as follows: 52 cents per can, net weight 1 pound 8 ounces; $1.05 per can, net weight 3 pounds; $2.05 per can, net weight 6 pounds. Which size was the cheapest? Which was the most expensive?
6. The same store priced small cans of potted meat at 5 cents for a 3-ounce can and 9 cents for a 5-ounce can. Compare the cost of 15 ounces in the two sizes.
7. A grocery store had the following prices on dried beef: a 33-oz. glass for 25 cents, a 7-oz. glass for 45 cents, bulk dried beef 70 cents a pound. If a family uses 3 pounds a month, how much would be saved by buying it in the bulk, instead of the 32-ounce glasses?
8. An 8-ounce glass of peanut butter of a certain brand costs 18 cents. A 1 pound 8 ounce glass of the same brand costs 45 cents. Compare the cost of 3 pounds of this peanut butter in each sized glass container.
9. A grocery store quoted the following prices per dozen on canned vegetables: 15-cent canned corn at $1.50 per dozen; 18cent canned peas at $2.00 per dozen. If Mrs. Willis uses 24 cans of the peas and 12 cans of the corn during the winter, how much would she save by buying by the dozen instead of single cans?
10. A 4-pound package of rolled oats sold at 30 cents when bulk rolled oats were selling at 6 cents a pound. If a family used 12 pounds of rolled oats during the winter, how much would they save by buying it in the bulk instead of the packages?
11. Mrs. Cooke used 1į quarts of milk a day. Her neighbor sells it to her for 12 cents a quart. She would have to pay the milkman 20 cents a day for that amount of milk. How much will she save on her milk in a year by buying from her neighbor?
12. Apples sold at $3.00 for a 40-lb. box, or 10 cents a pound when sold in smaller quantites. If a family uses 120 pounds during the winter, how much will they save by buying by the box?
“A PENNY SAVED IS A PENNY EARNED.'
Exercise 6. Relative Cost of Foodsi An engine must have fuel to supply energy to make it move and do work. So our bodies need food to build them up and to furnish energy. Different kinds of foods supply different amounts of energy. Since some foods are especially valuable in building up certain parts of the body, they are valuable for that reason even though they do not supply a large amount of erergy. In the following problems the energy-producing values only are compared.
1. The following weights of steak yield approximately the same amounts of energy: 1 pound porterhouse; 1 pound flank; 11 pounds round; 15 pounds sirloin. Find the present
14 prices of these cuts of steak at your meat market and compute the costs of the amounts given. Which is the cheapest cut? Which is the most expensive cut?
2. Compare the cost of: 1 pound of bacon; 2 pounds of ham; 24 pounds pork chops; 3 pounds of pork tenderloin. These kinds of pork produce approximately equal amounts of energy. Which is the cheapest of these pork cuts? Which is the most expensive?
3. One pound of canned salmon produces approximately as much energy as 2 pounds of fresh halibut or 4 pints of fresh oysters. Compare the costs of these three foods at present prices.
4. A pound of ham yields approximately as much energy as 11 dozen eggs. Which is cheaper at today's prices?
5. A pound of butter is equal in energy value to about 51 quarts of whole milk. Which costs more?
6. Compare the cost of 1 pound of sugar with the cost of 14 pounds of honey.
1For additional work on Food Values see the Efficiency Advanced under that topic.