Purchase Price based on vendor invoice 1,300,000 200,000 150,000 Trade discounts deducted from purchase price Salaries of marketing department Broker fees of import agents Commission of sales agents Import Duties Freight in Freight out Handling costs of importation 30,000 50,000 300,000 50,000 40,000 120,000
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Compute for total cost of purchases. *
a. P1,840,000
b. P1,800,000
c. P1,675,000
d. P1,600,000
Step by step
Solved in 2 steps
- Vendor (A) Billed Cost (B) Original Retail (C) Net Sales (D) Initial Mark Up Planned for Each Vendor (E = B*58%) Maintained markup For each Vendor (F = (C-B)/B) Reduction applied to merchandise {G = (C-D)/C} Vendor A ₹ 38,520 ₹ 87,000 ₹ 86,270 ₹ 22,342 126% 0.84% Vendor B ₹ 43,270 ₹ 1,02,000 ₹ 98,420 ₹ 25,097 136% 3.51% Vendor C ₹ 41,270 ₹ 94,000 ₹ 77,720 ₹ 23,937 128% 17.32% Vendor D ₹ 42,230 ₹ 98,000 ₹ 81,660 ₹ 24,493 132% 16.67% Vendor E ₹ 74,200 ₹ 1,79,000 ₹ 1,55,750 ₹ 43,036 141% 12.99% Vendor F ₹ 68,030 ₹ 1,62,000 ₹ 1,49,940 ₹ 39,457 138% 7.44% Vendor G ₹ 96,990 ₹ 2,35,000 ₹ 1,99,870 ₹ 56,254 142% 14.95% Vendor H ₹ 1,01,280 ₹ 2,50,000 ₹ 2,03,800 ₹ 58,742 147% 18.48% Vendor I ₹ 52,270 ₹ 1,30,000 ₹ 1,08,990 ₹ 30,317 149% 16.16% Vendor J ₹ 75,320 ₹ 1,87,000 ₹ 1,37,780 ₹ 43,686 148% 26.32% Vendor K ₹ 83,260…Question 28 Use the following information to calculate figures in the table below. Manufacturer: S 60 net selling price. Marks up (Wholesaler: $ 20, Retailer: $ 40) Applicable VAT: 30% Calculation Manufacturer Wholesaler Retailer Customer Net VAT paid by the Manufacturer is: Net cost of sales Mark up Net selling price S 60 S 80 $ 120 VAT chargeable (309%) Gross selling price Accounting for VAT Due to Customs and Excise Recoverable from Customs and Excise subtract) Net VAT Paid byJoker Inc. has only two retail and two wholesale customers. Information relating to each customer for 2020 follows: (Click the icon to view the data.) Requirement Calculate customer-level operating income. Begin by calculating each customer's gross margin. Then calculate the operating income for each customer. (Use parentheses or a minus sign to enter a negative gross margin or a customer-level operating loss. Abbreviations used: cust = customer; oper. = operating.) Gross margin Customer-level operating income (loss) Wholesale West Region Wholesaler East Region Wholesaler Blake Inc. Retail Robin Corp
- Given:Avarege trade receivables of afirm is40.000,average finished goodsis 50.000, cost of goods sold is 200000 and net sales is 250.000. Whatis trade receivables turnover? a. 250.000/40.000 b. 40.000/ 200.000 c. 40.000/250.000 d. 200.000/ 40.000 ========== 5. Activity Ratios are used in the assessment ofa) The financial risk of the companyb) the profitability of the assetsc) the short term debt repayment capacity of the firm d)the efficiency of the asset or the source analyzedThe following relates to a single sale of goods made by Spurs in 2023: Selling price P500,000Freight costs 5,000Terms 3/15, n/30Shipping Date December 28, 2023Date goods received by the customer January 3, 2024Date payment is received by Spurs January 5, 2024 Question:9. If the term is FOB destination, how much sales should be recorded by Spurs for the year ended December 31, 2023? a. P0b. P490,000c. P495,000d. P500,000Calculate the gross profit from the following? Sales of OMR 20000, Cost of goods sold OMR 8000 and Return inwards OMR 6000, Return outwards 4000, Purchases 15000. a. OMR 5000 b. OMR 8000 c. OMR 6000 d. OMR 12000
- Given:Avarege trade receivables of afirm is40.000,average finished goodsis 50.000, cost of goods sold is 200000 and net sales is 250.000. Whatis trade receivables turnover? a. 250.000/40.000b. 40.000/ 200.000c. 40.000/250.000d. 200.000/ 40.000==========5. Activity Ratios are used in the assessment ofa) The financial risk of the companyb) the profitability of the assetsc) the short term debt repayment capacity of the firmd)the efficiency of the asset or the source analyzedFinancial information is presented below: Operating Expenses Sales Returns and Allowances Sales Discounts Sales Revenue Cost of Goods Sold Gross profit would be O $126400. O $144500. O $113700. O $24200. $ 89500 18100 12700 319200 174700Financial information is presented below: Operating Expenses Sales Returns and Allowances Sales Discounts Sales Cost of Goods Sold Gross profit would be $89000 25000 11000 290000 157000
- Sales Cost of goods sold Operating expenses Sales discounts Sales returns and allowances Interest revenue P 460,000 300,000 85,000 20,000 15,000 5,000 From the details above, compute the net sales.Given the information available in the table below, what is the Wholesaler's Selling Price to the Retailer? SELLING MARGIN CHANNEL MEMBER COST PRICE % Supplier/Manufacturer $179.52 $224.40 20% not Wholesaler ??? 15% available not Retailer $300.00 12% available Consumer $300.00 O $256.00 O $224.40 O $240.00 $264.00Sales Sales Returns & Allowances Sales Discount Purchases Freight in Purchase Renurns & Allowances Purchase Discount Beginning Inventory Ending Inventory Operating expenses Other Income Otber Expenses P 780,000 15,000 19,000 420,000 12,000 8,000 2,000 50,000 80,000 120,000 16,000 3,000 How much is the cost of goods available for sale? P 4E0.000 P 472,000 P448,000 P 470,000