Ikea received the sofa set that was bought at a wholesale price of PhP 11,000. The secretary, Mr. Dela Paz, marks up all furniture by 55%. At what price should the secretary sell the sofa set?
Q: Kerianne paints landscapes, and in late 20x6 placed four paintings with a retail price of P250 each…
A: Correct answer is P250 Revenue kerianne should recognize in 20x6 is P250
Q: eaner and sels each What is the percent markup based on selling price? Shurgurado Lhines decided to…
A: a) Calculation of percent markup = (4499.5 - 1,875) ÷ 4,499.5 = 58.33%
Q: A manufacturer of vertical blinds purchases raw materials for $17.00 per set of blinds and has a…
A: Overhead means the cost incurred indirect in factory for the production of goods. Manufacturing…
Q: The Ri Jung Hyuk Company sold 1,500,000 boxes of cake mix during the year under a new sales…
A: The above question is based on the revenue recognition and reporting of liability.
Q: All Lacoste items are on sale at 15% discount. If a dress costs P7500 with a delivery fee of P150,…
A: Discount: Promotional discounts are price reductions applied to a product or service in order to…
Q: a. Calculate his total profit or loss made from the sale of the phones. Round to the nearest…
A: A trade discount is a discount given by the manufacturer to the seller. It deducts from the list…
Q: The Cellphone Company buys iPhones at PhP24,000. Expenses are set at 15% of the selling price and…
A: The regular selling price is the list price of iPhone, which can be calculated by adding the…
Q: Mary is a sales person for Challenge Furniture. She receives an incremental commission based on the…
A: Commission to be paid by Challenge Furniture to Mary is based on sales made by her.
Q: Thomson Printing Company is a buyer and seller of used machinery. On April 10, the president of the…
A: The question is based on the concept of contract and breach of contract under contract act. The…
Q: MarkosLabs, Inc. sells tattoupées – tattooable toupées for balding men. In 2021, it sold 200…
A: In accordance with IFRS 15, a company recognizes revenue to represent the transfer of promised goods…
Q: Appliance Store realizes a mark-up of PhP3,450 in selling TV sets. If its items are sold at a…
A: Note: As per the policy, we are supposed to solve the first three subparts at a time, Kindly repost…
Q: A watch store owner decided to offer 20% discount for a particular brand of watch that sells at…
A: Given: The owner sells one watch for P35,000.00 The owner buy one watch for P22,000.00 He is giving…
Q: Caroline, the owner of Caroline’s Boutique, estimates that she will sell P300,000 worth of certain…
A: When a firm orders items from the vendor on regular basis, it has to incur various types of costs…
Q: A watch store owner decided to offer a 20% discount for a particular brand of watchthat sells at PhP…
A: 1. Normal sell price of the watch is PhP 35,000 Cost price of the watch is PhP 22,000…
Q: A vegetable stand owner purchases onions at the rate of P350 per kg daily and sells it at the rate…
A: Lets understand the basics. For calculating onwers profit per kg of onion sold, we need to use below…
Q: A specialty shop procures several antique clocks for $5,000 apiece and offers them to customers for…
A: Markup is the amount of profit added to the product in order to calculate selling price per unit.
Q: Eveready Co. sells heavy-duty batteries, which cost P7,000, at a total installment price of P12,000.…
A: Trade-in over allowance Trade-in over allowance is the additional discount offered to the customer…
Q: Ace Hardware buys brushes at a wholesale price of PhP 380 each. If the selling price is PhP 627,…
A: Markup rate = (Selling price - Purchase price)/ Purchase price
Q: The list price of a secondhand van was P300,000 at a local car dealership. However, a customer…
A: As per revenue recognition standard IFRS, the amount of revenue that should be recognized is amout…
Q: Appliance Store realizes a mark-up of PhP3,450 in selling TV sets. If its items are sold at a…
A: Breakeven Point: It is the point where firm is earn no profit and no loss, and total revenue earned…
Q: Charlotte sells widgets that cost $50 each to purchase and prepare for sale. Annual sales are 10,000…
A:
Q: D) Ahmed, the retailer, purchased 300 units of a stationary item from the wholesaler, costing RO 6…
A: D. Purchase price for Ahmed = RO 6VAT = 20%NO OF UNITS PURCHASED = 300VAT PAID BY AHMED =purchase…
Q: Khalid is a salt merchant who supplies salt to general merchants in Lahore city. In the year of 2020…
A: We are hereby first need to know what is a meaning of contribution margin ratio? Contribution margin…
Q: Nicolas Appliance Center has purchased electric fans for Php 800 each The electric fans are marked…
A: The markup is the difference between the selling price and cost price of a product. Markup…
Q: Using Excel spreadsheet / worksheet, determine Anna's profit. Attach excel solution.
A: Operating income refers to the income or gross profit generated by the company from its operations…
Q: Lemuel bought bottles of food supplements at Php 1 800 each. He is planning to sell this at 15%…
A: In this question, we are required to calculate the quantity of bottles to be sold to be in break…
Q: Washamoto Ltd took delivery of a microcomputer and printer on 1 July 20X6, the beginning of its…
A: Required:Compute the cost of acquisition of the microcomputer to Washamoto Ltd.
Q: Bramble, Finland's second largest homebuilder, has approached Wilson with an offer to buy 75,000…
A: Contribution Margin analysis :— Contribution margin analysis investigates the residual margin after…
Q: Big Red Motors, Inc., employs 15 sales personnel to market its line of luxury automobiles. The…
A: If a business has two alternatives of doing something, then it should select that alternative which…
Q: Hewitt Enterprises is a business that buys and sells printers at a profit and has the following…
A: Since cost assumption of the business enterprise is not mentioned. We are assuming that latest price…
Q: a. A boutique buys bags from a manufacturer for Php 2,000 each and sell them for Php 3,299.Compute…
A: As per the guidelines, only one question is allowed to be answered. Please upload different question…
Q: Coby is plumber who engages Peter to buy materials on his behalf. Peter is given a limit of $1,500…
A: Agency is simply an agreement by one person (the principal) in terms of which they transfer…
Q: 23. Mrs. Racelis, an entrepreneur, purchased 500 bags of cement at P 240 per bag If she sold 500…
A: Hi student Since there are multiple questions, we will answer only first question. If you want…
Q: Khalid is a salt merchant who supplies salt to general merchants in Lahore city. In the year of 2020…
A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…
Q: Annie bought one dozen smartphones for P200,000.00 with a discount of 5%. She sold half dozen at a…
A: Since you have posted a question with multi sub-parts, we will solve first three sub-parts for you.…
Q: A manufacturer offers to deliver to a dealer 300 chairs at Php 360 per chair and to reduce the price…
A: We can solve this problem by developing an equation and then solving it in excel using the solver…
Q: The business manager of an RSO has a choice of purchasing T-shirts for 500 students from two…
A: Cost: the term cost refers to any expense which is incurred to manufacture a product or provide a…
Q: Compute the following requirements:
A:
Q: Markson and Sons leases a copy machine with terms that include a fixed fee each month of $500 plus a…
A: Variable cost per copy using high-low method (Highest Cost - Lowest Cost) / (Highest No. of Copies -…
Q: Annie bought one dozen smartphones for P200,000.00 with a discount of 5%. She sold half dozen at a…
A: The profit or loss on selling the goods depends on the purchase cost and selling price. If the total…
Q: on the sale of a house, broker Audrey Kirch earns 7% of the first $50,000 and 3% of any amount…
A: Earnings of broker on first $50000 = 50000 * 7% = $3500
Q: Indicate how much income Sunland should recognize in January, February, March, and April.
A: As per IFRS 15, principal has to recognise revenue on a gross basis where as agent has to recognise…
Q: Kristin Company sells 300 units of its products for $20 each to Logan Inc. for cash. Kristin allows…
A:
Q: A motorcycle shop pays its wholesaler Php 4,500 for a certain helmet, and then sells it to a…
A: Calculate the mark-up rate by dividing the difference of selling price and unit cost by the unit…
Q: A watch store owner decided to offer a 20% discount for a particular brand of watch that sells at…
A: Solution: Introduction: Trade Discount is a certain percentage on the List price given by the…
Q: Mr. Raza, a drug store retailer, seils surgical face masks and KN95 masks. He can regularly acquire…
A: Correct answer is option (d) 350 surgical face masks and 150 KN95 masks.
Q: An online seller sells RTW for P4,500 for 75 pieces of trendy tiktok tops. Lara offered to buy the…
A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…
Q: 1. Aling Ana would like to sell little trinkets she purchased from Divisoria fo PhP12 each. If the…
A: The answer is stated below: Note: Answering the first question as there are multiple…
Q: Mr. John Villamin wanted to sell cupcakes to his friends. He spends Php 22.50 per cupcake with…
A: Markup is the spread or the difference between selling price of a product and its costs. It is…
Q: Sydney Company is a retailer that sells clothing. The entity has launched a promotional campaign…
A: Accounting- Accounting is the method that an organization uses to keep track of its finances and…
Ikea received the sofa set that was bought at a wholesale price of PhP 11,000. The secretary, Mr. Dela Paz, marks up all furniture by 55%. At what price should the secretary sell the sofa set?
Step by step
Solved in 2 steps
- Kate is an executive for the Cozy Furniture Manufacturing Company. She purchased furniture from the company for $9,500, the price Cozy ordinarily would charge a wholesaler for the same items. The retail price of the furniture was $12,500, and Cozy’s cost was $9,000. The company also paid for Kate’s parking space in a garage near the office. The parking fee was $600 for the year. All employees are allowed to buy furniture at a discounted price comparable to that charged to Kate. However, the company does not pay other employees’ parking fees. Kate’s gross income from the above is: answer choices: $3,500. $4,100. $-0-. $900 $600.Coby is plumber who engages Peter to buy materials on his behalf. Peter is given a limit of $1,500 on purchases that he makes on Coby’s behalf. U-Bend Pty Ltd is a wholesaler of PVC piping from whom Peter has purchased pipes before . The company was selling piping at a discount price. Peter purchase a quantity of this piping for $2,000 and arranged for delivery. Peter thought it was too good a deal to pass up, even though it was in excess of his limit of $1,500 . Coby is refusing to accept the delivery of the pipes from U- Bend Pty Ltd Under Agency Law, will Coby be bound by the purchase?BM Motors, Inc. employs 40 sales personnel to market its line of luxury automobiles. Theaverage car sells for P1,200,000 and a 6% commission is paid to the salesperson. BM Motorsis considering a change to a commission arrangement that woul d pay each salesperson a salaryof P24,000 per month plus a commission of 2% of the sales made by that salesperson.The amount of total car sales at which BM Motors would be indifferent as to which plan to selectis A. P22,500,000 C. P24,000,000B. P30,0 00,000 D. P12,000,000
- Appliance Store realizes a mark-up of PhP3,450 in selling TV sets. If its items are sold at a mark-up of 40% of the selling price, D. If overhead expenses are at 27% of the cost, what is the break-even price of the TV set? E. If the TV set is sold at PhP7,500, how much profit or loss is incurred by Appliance Store? pls. show all the solutionsRyan, an agent, was able to sell Mikoy Frozen Products worth 50,000.00. Given her commission of 10%. How much will he receive if his earnings are based on commission alone?Appliance Store realizes a mark-up of PhP3,450 in selling TV sets. If its items are sold at a mark-up of 40% of the selling price, A. What is the regular selling price of the TV set? B. What was the cost of the TV set? C. What is the rate of mark-up based on cost for the TV set? D. If overhead expenses are at 27% of the cost, what is the break-even price of the TV set? E. If the TV set is sold at PhP7,500, how much profit or loss is incurred by Appliance Store?
- Rodney runs Handheld Hardware Inc. in Mississauga, Ontario. He purchases 490 phones from a distributor with trade discounts of 14% and 7% on the list price of $50 per phone. He sold 288 phones at the regular selling price of $82 each and offered a markdown of 20% on the next 59 phones. To ensure that he completes the stock, he sold the rest at break-even. The store's overhead expenses are 9% on cost. a. Calculate his total profit or loss made from the sale of the phones. Round to the nearest cent b. What is the rate of markdown from the original selling price for the remaining phones that are being sold at break even? % Round to two decimal placesA consumer purchases a flat iron to straighten her hair for $150 from a salon at which she gets her hair cut. If the salon’s markup is 40 percent and the wholesaler’s markup is 15 percent, both based on their selling prices, for what price does the manufacturer sell the product to the wholesaler?Mr. Raza, a drug store retailer, seils surgical face masks and KN95 masks. He can regularly acquire a supply of 200 to 400 surgical masks and 100 to 150 KN95 masks but not more than 500 items altogether. Mr. Raza can buy the surgical masks wholesale at Php10 each and sell them for Php18 each, whereas the KN95 masks cost Php25 each at wholesale but can be sold for Php 35 each. How many of each type should Mr. Raza acquire to make a maximum profit? 200 surgical face masks and 150 KN95 masks 200 surgical face masks and 100 KN95 masks 400 surgical face masks and 100 KN95 masks 350 surgical face masks and 150 KN95 masks
- appliance store realizes a mark-up of php3,450 in selling tv sets. if its items are sold at a mark-up of 40% of the selling price, a. what is the regular selling price of the tv set? b. what was the cost of the tv set?The business manager of an RSO has a choice of purchasing T-shirts for 500 students from two suppliers. Alpha T offers the shirt to be acquired at P300 each with print 500 pieces and silk screen cost of P1,000 for 500 pieces. If the RSO will buy less than 500 pieces, it will be charged at P315each. Beta T, another supplier offers the T-shirt at P187 each, charges printing at P10,000 at a higher level of printing technology for every 300 pieces, and P75/shirt for ink and labor. Record shows that sales come from 75% of the students buy T-shirts. If only 80% of the students are targeted to serve, which supplier will you choose? a) Alpha T b) Beta T c) Either of the two supplier d) none of the supplierKhalid is a salt merchant who supplies salt to general merchants in Lahore city. In the year of 2020 he sold 35,000 bags of salt. One bag consists of 50kg salt. He purchases slat in raw form and then grinds it, fills it in bags and then sold it, Sale price per bag is RM 45. He purchases the raw salt @ RM 400 per ton (1 ton consist of 1000 kg). Grinding cost is RM7 per bag, carriage outward cost is RM 5 per bag, he also purchases empty bags @ RM400 per 100 bags. Rent of shop RM1500 per month. Electricity and phone expense is RM16,000 per year (assume fixed). Depreciation of plant is RM3,680 per year. In the year 2021 it is expected that sale price and demand will remain the same but all the variable costs will increased by 15%. All the fixed costs will also increase by 10%. Required: Assume that demand in 2021 will remain the same he wants to keep same contribution margin ratio as in year 2020 what will be the new selling price per bag. other requirements have been answered here:…
