Determine the amount of the value added tax

Assignment Help Managerial Accounting
Reference no: EM132916092

Questions -

Q1. Gross Margin Based on Sales: Rolly Company wants to sell a product at a gross margin of 40%. The cost of the product is P120.00. What selling Price should be charged for the product?

Q2. ROI Pricing: Lite Coprpration wishes to earn a 40% return on ots P200,000.00 investment in the facilities used to product A. Estimated sales voulume is 40,000 units for which the company expects to incur the following unit costs:

Variable manufacturing Cost P4.00

Fixed Manufacturing Costs P2.00

Variable selling and administrative costs P1.50

Fixed Selling and Administrative Cost P0.50

At how much per unit should Product A be prices for sale?

Q3. Full Cost Pricing. Cheryl Corporation produces a product which a variable cost of P150 per unit. Total fixed cost amounts to P500,000 and is allocated to the products based on the number of units produced. Selling price is determined by adding a 20% mark-up to full cost. How much should the selling price be per unit for 10, 000 units?

Q4. Effect of Sales Tax and Service Charge on Price Setting. Pol Caterers quotes a price of P120 per person for a dinner party. This price includes 6% sales tax and 15% service charge. Sales tax is computed of the food plus the service charge. The Service charge is computed on the food only. At what amount does Pol price the food?

Q5. Trade Discount: Malen company sells its product ay P400.00 each, which includes allowance for a 3% trade discount based on gross sales. Determine the net selling price for Malen's Product?

Q6. Value Added Tax: Linda Company's product has a tag price of P350.00 inclusive of value added tax. Determine the amount of the value added tax included in the tag price.

Reference no: EM132916092

Questions Cloud

What is the carrying amount of note payable on December : The December collections of assigned accounts receivable amounted to P2,000,000 less cash discounts of P100,000. What is the carrying amount of note payable
Analyze the factor of police negotiation during siege : Provide a historical overview of the facts of the Branch Davidian Standoff. Analyze the factor of police negotiation during the siege.
Analyze factor of police negotiation during siege : Analyze the factor of police negotiation during the siege. Analyze the factor of police negotiation during the siege.
Expected impact of policies in community : Explain the expected impact of policies in the community. Discuss how you, as a law enforcement leader, would communicate these policies to your personnel.
Determine the amount of the value added tax : Value Added Tax: Linda Company's product has a tag price of P350.00 inclusive of value added tax. Determine the amount of the value added tax
Explain the political-legal-economic-socio-cultural : To expand our local brands internationally, especially in South Africa, identify and explain the political-legal, economic, socio-cultural, technological and ge
Discusses specific incident of ethical violations : You will utilize CSU Online Library to locate an article that discusses a specific incident of ethical violations on the part of a police or corrections officer
Prepare the appropriate journal entry for Selling of Assets : Equipment that had cost $90,000 and had a book value of $60,000 was sold for $24,000. Prepare the appropriate journal entry for Selling of Assets
Alternative approaches to dealing with juvenile offenders : Approach to legislature's interest in creating alternative approaches to dealing with juvenile offenders that would still be handled via state court's system

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Compute the first production department cost of ending work

Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total for May.

  Calculate the relevant cost of building virtual headsets

Poullus Limited, a high-tech electronics manufacturing. Calculate the relevant cost of building 200 virtual headsets which may help with the pricing decision.

  Craft company produces a single product

Craft Company produces a single product. Last year, the company had a net operating income of $80,000 using absorption costing and $74,500 using variable costing.

  What overhead applied to production totaled

What Overhead applied to production totaled? Blakely charges manufacturing overhead to products by using a predetermined application rate

  Discuss the organizational and manager behavior problems

Discuss the organizational and manager behavior problems, if any, inherent in this situation. What would you advise company's president to do in this situation

  Solve the markup percentage and target selling price

Sales volume is 1,500 units instead of 1,000 units, calculate the markup percentage and target selling price that will allow Watson to earn its desired RO

  What would be the break-even in units

What would be the break-even in units assuming Ben incurred $2,500 in selling expenses and had $10,000 in other fixed expenses?

  What limits the usefulness to managers of fixed budget

What limits the usefulness to managers of fixed budget performance reports? How can these limits be overcome? Explain in detail with suitable example.

  Calculate the cvp income statement based on management

Calculate the CVP income statement for 2019 based on management's estimates. Compute the break-even point in (1) units and (2) dollars.

  Explain which material variance is calculated first

Explain which Material Variance (Quantity or Price) is calculated first and why is there a specific order in which these calculations are made.

  Determine the current average cost per meal

Compute the net advantage (disadvantage) of accepting the contract. Determine the current average cost per meal. Round your answer to two decimal places.

  Find the amount of setup cost allocated to each unit

Using number of setups as the activity base, the amount of setup cost allocated to each unit of product for X and Y , respectively is

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd