Prices of food in Jollibee's overhead menu include 12% value added tax (VAT). You ordered Chick'nwich meal and paid P196.00. a. How much is the cost of the food and drink (without the tax)? b. How much is the tax for the food and drink?

Prices of food in Jollibee's overhead menu include 12% value added tax (VAT). You ordered Chick'nwich meal and paid P196.00. a. How much is the cost of the food and drink (without the tax)? b. How much is the tax for the food and drink?

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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Find the amount of sales tax on a car that costs 12,800 where the sales tax rate is 6.5%
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H. K 35 36 TABLE A TABLE B Annual Fixed Costs (TL) Marketing, Selling and Distribution Expenses Low Option High Option 725,000.00 37 Annually Estimated Annually Estimated Sales Administration Expenses 1,250,000.00 38 Sales 30,000.00 1,285.00 15,000.00 1,443.00 39 Price (TL) $4 Price (TL) 2$ R&D 379,000.00 40 Direct Fixed Costs 4,750,000.00 41 Materials Number Required Unit Costs (TL) Materials Number Required rqaaS 42 Stove 1 172.25 Stove 1 202.25 43 Oven 1 242.15 Oven 1 252.15 TAX RATE 44 Display Screen 45 Driver 1 19.25 Display Screen 2 36.24 2 18.10 Driver 2 18.10 20% 46 Electronic Card 1 11.97 Electronic Card Bluetooth 1 11.97 47 Bluetooth 1 11.16 1 11.16 48 Fan 2 7.99 Fan 8 7.99 49 Light Bulb 1 Light Bulb Smart Connectivity 4.99 5.99 50 39.99 51 Direct Labor Costs 85.32 52 Packaging Cost Per 49.27 Direct Labor Costs 10% Increase from LowOption's Direct Labor Cost Increase from LowOption's Packaging Cost 53 Packaging Cost Per Unit 4% 54 Instructions Answers