8. In the Philippines, If an employee is to render overtime on a regular day, how much would be the rate per hour of rendered overtime? a. At least 160% of regular rate b. At least 125% of regular rate c. At least 150% of regular rate d. At least 130% of regular rate 9. In the Philippines, If an employee is to render overtime on a rest day, how much would be the rate per hour of rendered overtime? a. At least 150% of rest day rate b. At least 150% of regular rate c. At least 130% of rest day rate d. At least 130% of regular rate 10. It occurs when workers are paid by the unit performed (e.g. the number of tee shirts or bricks produced) instead of being paid on the basis of time spent on the job. a. Daily Rate b. Hourly Rate c. Monthly Rate d. Piece Rate

8. In the Philippines, If an employee is to render overtime on a regular day, how much would be the rate per hour of rendered overtime? a. At least 160% of regular rate b. At least 125% of regular rate c. At least 150% of regular rate d. At least 130% of regular rate 9. In the Philippines, If an employee is to render overtime on a rest day, how much would be the rate per hour of rendered overtime? a. At least 150% of rest day rate b. At least 150% of regular rate c. At least 130% of rest day rate d. At least 130% of regular rate 10. It occurs when workers are paid by the unit performed (e.g. the number of tee shirts or bricks produced) instead of being paid on the basis of time spent on the job. a. Daily Rate b. Hourly Rate c. Monthly Rate d. Piece Rate

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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1.
55. P&C Travel Agency specialize in flight between India and Malaysia. It books passengers on Malaysian Air. P&C fixed costs are Rs. 10,00,000 per month. Malaysian Air charges a passenger Rs. 20,000 per round trip ticket.Calculate the number of tickets P&C must sell each month to (a) breakeven and (b) make a target operating income of Rs. 4,00,000 per month in each of the following independent cases.a. P&C variable costs are Rs. 400 per ticket. Malaysian Air pays Chaturvedi AirBooking 10 per cent commission on ticket price. b. P&C variable costs are Rs. 200 per ticket. Malaysian Air pays P&C 10 per cent commission on ticket price. c. Chaturvedi AirBooking variable costs are Rs. 200 per ticket. Malaysian Air pays Rs. 500 fixed commission per ticket to Chaturvedi AirBooking. Comment on the results. d. Chaturvedi AirBooking variable costs are Rs. 200 per ticket. It receives Rs. 500 commission per ticket from Malaysian Air. It charges its customer a delivery fee of…
6. Dimitri Designs has capacity to produce 30,000 desk chairs per year and is currently selling all 30,000 for $240 each. Country Enterprises has approached Dimitri to buy 800 chairs for $210 each. Dimitri’s normal variable cost is $165 per chair, including $50 per unit in direct labor per chair. Dimitri can produce the special order on an overtime shift, which means that direct labor would be paid overtime at 150% of the normal pay rate. The annual fixed costs will be unaffected by the special order and the contract will not disrupt any of Dimitri’s other operations. PLEASE NOTE: All dollar amounts are rounded to whole dollars and shown with "$" and commas as needed (i.e. $12,345). If Dimitri accepts the offer, what will be the impact on profits of accepting the order. Incremental dollar amount = ? . Increase or Decrease? . Please note: Your answer is either "Increase" or "Decrease" - capital first letters and no quotes.
Suppose that you charged $8430 on a credit card to relocate for your first job. When you realized that the interest rate for the unpaid balance was 27% compounded monthly, he decided not to charge any more on that account. You want to have this account paid off by the end of 3 years, so you arrange to have automatic payments of equal amount sent at the end of each month.(a) What monthly payment must you make to have the account paid off by the end of 3 years? (b) How much total interest will you have paid?
4. Estrada V. Escritor sells on terms 3/10, net 30. Total sales for the year are ₱2,539,130. Forty percent of the customers pay on the tenth day and take discounts; the other 50% percent pay on 30th day average, and ten percent, on the average pay 40 days after their purchases. Assume a 365-day year, what is the average amount of receivables? (round to nearest peso amount).
Chapter 13, Question 7. Attached is a similar question with answers. Please answer the same two parts for the new question
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T. Maxwell, R. Rochester, M. Barton, Y. York, W. Clarke and I. Black all work at Grace Kennedy. R. Rochester, W. Clarke and Y. York works a regular work week of 40 hours at a rate of $650.00 per hour. However, T. Maxwell, Y. York and I. Black cach work 47, 49 and 52 hours respectively at a rate of 1.5 times regular rate. NOTE (a) All workers except M. Barton and W. Clarke pay union dues of $300.00 (b) All workers pay income tax of 25%, National Insurance of 52%, NHT of 2% and Education tax of 2% (e) T. Maxwell and w. Clarke pay Sagicor Insurance costs of $350.00 Draft a payroll sheet and calculate the payroll for the above Net Overtime Gross NIS Wage Income Union Sagicor Тах Name Нours Basic Worked Wage NHT Ed Total Dues Insurance Deductions Wages
A company that builds and sells desks has a weekly overhead including salaries and plant costs of P170,000. The cost of materials for each desk is P2,000 and the desk is sold for P10,000. How many desks must be built and sold each week so that the company is guaranteed a profit?
11. Suppose you have a balance of $5400 on your credit card, which charges an APR of 18%. If you want to pay off the balance in 18 months, how much should you pay each month? What is the total amount of interest you will end up paying? Assume that you charge no additional expenses to the card. 5400 012
4. Ms. Raheema purchases goods with a list price of RO 30,000. The supplier offers a 10 % trade discount, and a 2 ½ % cash discount for payment within 10 days. Required: a) Calculate the amount Ms. Raheema will have to pay if it delays longer than 10 days before paying. b) Calculate the amount Ms. Raheema will pay if it pays within 10 days.