The Cellphone Company buys iPhones at PhP24,000. Expenses are set at 15% of the selling price and the required profit is set at 20% of the selling price. During a weekend sale, the iPhone is sold at 10% discount. A. What is the regular selling price of the iPhone? B. What is the sale price of the iPhone? C. How much did The Cellphone Company gain or lose when the iPhone was sold during the weekend sale? Pls. Show all the solutions

The Cellphone Company buys iPhones at PhP24,000. Expenses are set at 15% of the selling price and the required profit is set at 20% of the selling price. During a weekend sale, the iPhone is sold at 10% discount. A. What is the regular selling price of the iPhone? B. What is the sale price of the iPhone? C. How much did The Cellphone Company gain or lose when the iPhone was sold during the weekend sale? Pls. Show all the solutions

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 12EB: Able Transport operates a tour bus that they lease with terms that involve a fixed fee each month...

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Able Transport operates a tour bus that they lease with terms that involve a fixed fee each month plus a charge for each mile driven. Able Transport drove the bus 7,000 miles and paid a total of $1,360 in June. In October. Able Transport paid $1,280 for the 5,000 miles driven. If Able Transport uses the high-low method to analyze costs, how much would Able Transport pay in December, if they drove 6,000 miles?
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 solutions
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?
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?
A discount store purchased mobile phones at a cost of P28,800 per dozen. If they need 20% of cost to cover operating expenses and 15% of cost for the net profit, what is (a) the selling price per phone and (b) the percent of markup on selling price?
A watch store owner decided to offer a 20% discount for a particular brand of watchthat sells at PhP 35 000. By doing so, his average sales increased from 5 watchesto 12 watches a day. If he bought one watch at a price of PhP 22 000 from thesupplier, by how much was the daily profit increased or decreased by offering suchdiscount on the watch?
Samsung uses 600 touch-screen glasses a month to manufacture cell phones. Each touch screen-glass costs $ 30. The company pays $ 73,000 for the procurement clerk annually and has a budget of $ 18,250 a year for communication devices. The obsolescence cost is $ 24 a day, and the insurance costs $ 18 a day. In a year, how often should Samsung place the purchase order for touch-screen glass? What is Samsung’s total cost of inventory for touch-screen glass?
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
Thorne Co. values, advertises and sells residential property on behalf of its customers. Thecompany has been in business for only a short time and is preparing a cash budget for the first four months of 2013. Expected sales of residential properties are as follows.2012 2013 2013 2013 2013Month December January February March AprilUnits sold 10 10 15 25 30The average price of each property is £180 000 and Thorne Co. charges a fee of 3 per cent of the value of each property sold. Thorne Co. receives 1 per cent in the month of sale and the remaining 2 per cent in the month after sale. The company has nine employees who are paid on a monthly basis. The average salary per employee is£35 000 per year. If more than 20 properties are sold in a given month, each employee is paid in that month a bonus of £140 foreach additional property sold.Variable expenses are incurred at the rate of 0.5 per cent of the value of each property sold and these expenses are paid in the month of sale. Fixed…
It costs Salesiana Publishing house Php 350 000 to make books. The Php 350 000 is a fixed cost or a cost that cannot change. To help the publishing company sell the books, a marketing company charges Php 10.00 for each book sold. If the company charges Php150.00 per book, how many books should they sell to break even? a. 2850 books b. 3200 books c. 2500 books d. 1750 books
Klee Motors is a small car dealership. On average, it sells a car for $24 000, which it purchases from the manufacturer for $20 000. Each month, Klee Motors pays $60 000in rent and utilities and $60 000 in salespeople’s salaries. In addition to their salaries, sales people are paid a commission of $500 for each car they sell. Klee Motors also spends $15 000 each month on local advertisements. a. How many cars must Klee Motors sell each month to break even? b. Will Klee Motors earns a profit if it can sell 6 cars? c. How much sales revenue shall the company earn to achieve a $100,000 profit?
Caroline, the owner of Caroline’s Boutique, estimates that she will sell P300,000 worth of certain decorator table this year (P5,000/unit). Her accountants have determined that ordering costs amount to P1,250 per order and that carrying cost to 30% of average inventory. a.What is the optimum number of orders per year? b.How much is the optimum peso per order? c.What is the optimum number of units per order?