Answer in the correct steps Global Trading imported goods worth$50,000. Additional costs include: freight$3,000, import duty 10%, insurance $2,000,and handling $1,000. What the total cost ofinventory.

Explanation of Import Duty: Import duty is a tax levied by governments on goods when transported…

Answered: Global Trading imported goods worth…

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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IRON ORE COST SHEET 1. Please, prepare the cost sheet, based on the following information a) Commodity: Iron Ore b) Quantity: 250,000 MT in bulk c) Exchange rate: US $1.00 = CAD S1.25 d) Cost Ex-warehouse: USD$60 per MT e) Trucking (freight to dock): USDS10,000,000 ) Wharfage and handling: USD$25 per MT g) Finance charge: 2.5% h) Profit margin: 7% i) Agent's commission: USD$125,000 j) Ocean freight: USD$12,500,000 for total shipment k) Marin insurance: 1% on110% of the C&F value Please, use the attached cost sheet to make your calculations, show all calculations, Round your final answer to the nearest dollar amount; then, put the final price to the nearest $5 amount. Costs CADS USS Notes Cost Cost Cost [EXW] Ex-warchouse Trucking (freight to dock) Cost to Dock Wharfage and Handling Cost FAS (beside vessel) Finance Cha Profit Margin Agent's Commission Price FOB Convert to US$ (move to new column) Ocean Freight Price [CFR] C&F Marine Insurance Total [CIF] CIF Round to the nearest US$…
A recent income statement for BMW reports the following (in € millions). Assume 75% of the cost of sales and 75% of the selling and administrative costs are variable costs, and the remaining 25% of each is fixed. Compute the contribution margin (in € millions). (Round computations using percentages to the nearest whole euro.) Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . €92,175 Cost of sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74,043 Selling and administrative expenses . . . . . . . . . . . . . . . . . . . 8,633
37 Shipping expense is P9,000 for 8,000 pounds shipped and P11,250 for 11,000 pounds shipped. Assuming that this activity is within the relevant range, if the company ships 9,000 pounds, its expected shipping expense is closest to (nearest peso):
If average revenue per unit is expected to be $25 and cost of goods sold are expected to be $17 per unit, how many units must be sold to breakeven on investment if the investment cost is $240,000? O 40,000 O 14,117 O 9,600 O 65,118
The operating income for TRX Inc. is $100 million. If the cost of goods is $30 million, SGA expenses are $15 million, and other operating expenses are $5 million, find the sales revenues for TRX.
Kindly provide the correct options for the following three questions
A production Enterprise is considering introduction of a new product into the market. Detailed calculations of expected revenues are presented in the table below: Thousands euro Revenues Closing balance Account payables Year 1 Inventory of production materials Inventory of finished products 700 The firm's analysts estimated that investment outlays to start the production (investment, research and development) would amount to EUR 650 thousand. Average variable costs account for about 55% of revenues. Depreciation of investment outlays amounts to 33,33% annually. After the 3rd year, the fixed assets are expected to have a market value of 100 thousand Euro (despite being fully depreciated). The performed analysis suggests that implementation of the project would cause overheads at the company to rise by ca. EUR 100 thousand annually. The table below presents forecast for the share of liabilities, production materials and stock in revenues: Year 1 14% 12% Year 2 8% 800 Year 2 14% 11% Year…
Shipping expense is $9,000 for 8,000 kilograms shipped and $11,250 for 11,000 kilograms shipped. Assuming that this activity is within the relevant range, if the company ships 9,500 kilograms, what is the expected shipping expense? Use the high-low method. Show your calculations. Without plagiarism
Apple company has the following information, Annual sales= 12 Million Cost of goods sold = 65% of sales Purchases= 60% of Cost of goods sold AAI = 65 days ACP = 45 days APP = 33 days Find : 1- The cash conversion cycle (CCC) 2- The operating cycle (OC) 3- The resources invested (operating assets)
Calculate COGS
1. Subject : - Finance
If the selling price per unit is $50, the variable expense per unit is $20, and total fixed expenses are $260,000, what are the breakeven sales in dollars? A. $433,333 B. $650,000 OC. $185,714 ⒸD. $156,000

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Global Trading imported goods worth $50,000. Additional costs include: freight $3,000, import duty 10%, insurance $2,000, and handling $1,000. What the total cost of inventory.