lobe Telecom sold $300,000 worth of 120-day commercial paper for $298,000. What is the effective 120-day rate on the paper? Format: 1.1
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Globe Telecom sold $300,000 worth of 120-day commercial paper for $298,000.
What is the effective 120-day rate on the paper? Format: 1.11%
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- McEwan Industries sells on terms of 3/10, net 30. Total sales for the year are $1,921,000; 40% of the customers pay on the 10th day and take discounts, while the other 60% pay, on average, 70 days after their purchases. d. What is the percentage cost of trade credit to customers who do not take the discount and pay in 70 days?The cost of product X is 30 percent of its selling price, and the carrying cost is 8 percent of selling price. Accounts are paid on average 60 days after sale. Sales per month average P25,000. What is the investment in accounts receivable? choose the letter of the correct answera. P8,000.00b. P9,000.00c. P19,000.00d. P29,000.00e. P39,000.00The cost of product X is 30 percent of its selling price, and the carrying cost is 8 percent of selling price. Accounts are paid on average 60 days after sale. Sales per month average P35,000. What is the investment in accounts receivable? CHOOSE THE ANSWERA. P600.00B. P6,600.00C. P19,000.00D. P16,600.00E. P26,600.00
- ABC sold boxes of candles at P1,000 each. For each box, ABC incurs variablecost of P750. Daily sales total 500 boxes over its 250-work day year. All salesare on credit. For the coming year, it plans to accept customers who have lessdesirable credit ratings. Sales are expected to increase by 10%. Averagecollection period will increase from 40 days to 50 days. Bad debts willincrease from 1% to 3% of sales. Fixed expenses will stay the same. Forprofitability analysis, ABC uses an 8% effective interest rate.Required: If ABC proceeds with its plan to accept the new market group. compute for the following: 1. increase in contribution margin 2. increase in receivables carrying cost 3. increase in bad debts 4. net advantage or disadvantage of the plan1. Dalagang Pilipina Company needs ₱5,000,000 short-term credit for 90 days. To produce the amount, the company intends to sell commercial paper with a discount rate of 15%, issuance cost of ₱75,000 and other flotation cost of ₱15,000. How large should the commercial paper issue be to achieve the needed amount? (nearest peso amount)A company uses 1,500 units of Zeron per year. Each unit has an invoice cost of P222, including shipping costs. Because of the volatile nature of Zeron, it costs P860 for liability insurance on each shipment. The costs of carrying the inventory amount to P65 per item per year exclusive of a 20 percent cost of capital. Other order costs amounts to P18 per order. At present, the company orders 250 units at a time. What is the annual cost of the company's current order policy?
- U.S Telephone Cellular sells phones for $100. The unit variable cost per phone is $50 plus a selling commision of 10% (based on the unit sales price per phone). Fixed manufacturing costs total $1,050 per month, while fixed selling and administrative costs total $2,370. How many phones must be sold to achieve the breakeven point? Round to two decimal places.30. Marjoha Company sells on terms of 3/10, net 30. Gross sales for the year are P1,200,000 and the collections department estimates that 30 percent of the customers pay on the tenth day and take discounts; 40 percent pay on the thirtieth day; and the remaining 30 percent pay, on average, 40 days after the purchase. Assume 360 days per year. What is the average collection period?A bookstore sells a particular book for ₱450. Variable expenses are ₱280 per book. Currently, the bookstore is just breaking even at 6,000 books per year. The annual fixed expenses would be? a. ₱ 1,020,000 b. ₱ 450,000 c. ₱ 280,000 d. ₱ 730,000 e. ₱ 714,705.88 f. ₱ 1,680,000
- Bulldogs Inc. sells on term 3/20, net 40. Total sale for the year are P1,200,000 on which 40% is cash sales. 30% pays on the 20th day and take discounts while the remaining customers always pay on time. What is the average amount of accounts receivable? (Use 360-day year) The annual demand of Bulldogs Inc. sole product totaled 450,000 units. Due to uncertainty in supply of items, the maximum possible lead time for the orders is 2 weeks and 1 day. A safety stock of 6,250 units is determined. What is the normal lead time? (Use 360 days)Preston products produces a disinfecting liquid. The liquid is sold in one gallon containers and has the following price and cost characteristics. Sales Price: $36.00 per gallon Variable costs: $12.00 per gallon Fixed costs: 504,000 per month Preston products is subject to an income tax rate of 21 percent. a. How many gallons must Preston products sell every month to break even? b. How many gallons must Preston products sell to earn a monthly operating profit of $75,840 after taxes?A company manufactures a single product with a selling price of ₱120. Fixed expenses total ₱450,000 and the company must sell 10,000 units to breakeven. Tax rate is 25%. If the target profit after tax is ₱210,000, how many units must be sold? a. 6,223 b. 16,223 c. 16,667 d. 4,667 e. 26,667