Ligo Co. a sardines canning company had the following purchases as inputs for its manufacturing operations during the month:Tin cans, inclusive of VATP 80,000Tomatoes150,000Sardines200,000Labels, inclusive of VAT20,000TotalP 450,000What is the presumptive input VAT allowable to Ligo? What is the creditable input VAT of Ligo for the month?

Name: Ligo Co. a sardines canning company had the following purchases as inp
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: Ligo Co. a sardines canning company had the following purchases as inputs for its manufacturing operations during the month:Tin cans, inclusive of VATP 80,000Tomatoes150,000Sardines200,000Labels, inclusive of VAT20,000TotalP 450,000What is the presu

VAT-Value Added Tax, also known as goods and service tax, which is being charged upon price of goods…

Answered: What is the presumptive input VAT…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter7: Variable Costing For Management analysis

Section: Chapter Questions

Problem 2CMA: Chassen Company, a cracker and cookie manufacturer, has the following unit costs for the month of...

See similar textbooks

Related questions

Concept explainers

Topic Video

Question

Ligo Co. a sardines canning company had the following purchases as inputs for its manufacturing operations during the month:

Tin cans, inclusive of VAT	P 80,000
Tomatoes	150,000
Sardines	200,000
Labels, inclusive of VAT	20,000
Total	P 450,000

What is the presumptive input VAT allowable to Ligo?
What is the creditable input VAT of Ligo for the month?

Expert Solution

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions