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- Veta Enterprises GmbH makes custom-built bicycles in Germany. The following are predicted to occur during the forthcoming year, which is about to commence. For the year 2021 Direct materials $10,000 Direct Labour $32,000 Total direct cost $42,000 Indirect labour cost $5000 Depreciation $1,600 Rent $2000 Insurance $1000 Indirect materials $400 Other indirect cost $200 Total Indirec cost $10,200 Direct labour time $4,000 hours Machine time 600 hours All direct labour is paid at the same hourly rate. Peter Preat wants Veta Enterprises to make a bicycle for his son. Veta estimates that the bicycle will require materials and components that will cost e1,000. It will take 50 direct labour hours and 10 direct machine hours to make the bicycle. (a) Determine the cost of the bicycle if indirect costs are allocated with direct labour hours as an allocation base. (b) Determine the cost of the bicycle if indirect costs are allocated with direct machine hours as the allocation base. (c)…A British-made component costs 151 U.K. pounds. A company in the United States needs to buy these components and the current indirect quote indicates that one dollar will buy 0.89 pounds. Ignoring transactions costs, how much will one component cost in U.S. dollars? Instruction: Type your answer in dollars, and round to two decimal places.Q7 a.A manufacturer produces a car component. The cost sheet of the component is as follows: (5) Direct Material 4.00 Direct Labour 2.00 Variable Overheads 1.50 Fixed Overheads 2.50 A foreign manufacturer who uses this car component offers to purchase 20,000 units at Rs. 13 per component against the usual price of Rs. 15 per unit. If this offer is accepted the fixed expenses will go up by Rs. 40,000 annually. Would you accept this offer? Are there any other considerations, which may affect your decision? Q7 b.Calculate the effect on profit of a proposed change in ‘Sales Mix’ from the following data and also suggest that whether company should change the sales mix or continue with the existing: (5) M N O P Total Sales (in Rs) Existing Sales mix(Rs.)…
- please answer within 30 in details.Company ABX in Toronto is shipping 1050 units of computers to South Korea. Each computer is priced at $600 CND. Trucking charges is 1000 CND to Montreal and Ocean freight: $ 12,500.00 USD. They would like to add insurance coverage of 115%. They have been offered a rate of 0.05% for insurance. Insurance premium?A U.S.-based multinational pharmaceutical firm with four plants in Europe uses traditional methods to distribute the annual business travel allocation on the basis of workforce size. Last year $500,000 in travel expenses were distributed, according to as shown, at a rate of 500,000 / 29,100 = $17.18 per employee. A switch to ABC allocates the $500,000 in travel expenses on the basis of the number of travel vouchers, categorized by travelers working on each product line. In ABC terminology, travel is the activity and a travel voucher is the cost driver. as shown details the distribution of 500 vouchers to each product line by plant. Not all products are produced at each plant. Use the ABC method to allocate travel expenses to each product line and each plant. Compare plant-by-plant allocations based on workforce size (traditional) and number of travel vouchers (ABC).
- ORANGE PRODUCTS INC. Orange Products Inc. is a producer of juice drinks in Florida, USA. Until now, the company has confined its operations and sales to the United States, but its CEO, Ray Jalkio wants to expand into the Pacific Rim. The first step is to set up sales subsidiaries in Japan and Australia. then to set a production plant in Japan, and finally to distribute the product throughout the Pacific Rim. The firm's CFO, Janet Jackson, is enthusiastic about the plan, but she is worried about the implications of the foreign expansion on the firm's financial management process. She has asked your group to develop a tutorial package that explains the basics of multinational financial management. The tutorial will be presented at the next management committee (ManCom) meeting. Consider the following exchange rates: US Dollar Required to buy one unit of Foreign Currency Number of units of Foreign Currency per US Dollar Japanese Yen Australian Dollar 0.0091 109.89 0.760 1.31611. The manufacturing costs of Calico Industries for three months of the year are provided below: Total Cost Production (units) April $116,900 281,000 May 85,100 160,800 June 103,700 244,200 Using the high-low method, the variable cost per unit and the total fixed costs areNepal Co. requires advance payments with special orders for machinery constructed to customer specifications. These advances are nonrefundable. Information for Year 2 is as follows: Customer advances--balance 12/31/Year 1 Advances received with orders in Year 2 $236,000 $368,000 Advances applied to orders shipped in Year 2 $328,000 Advances applicable to orders canceled in Year 2 $100,000 In Nepal's December 31, Year 2, balance sheet, what amount should be reported as a current liability for advances from customers? Select one: a. $0 b. $176,000 c. $276.000 d. $296,000
- A car's annual maintenance costs P18,000. If the cost of creating a forging is P90 and the selling price per forged unit is P115. Calculate the number of units that must be forged in order to break even.Global Athletes Pty Ltd is a large sports goods retailer. It purchases ‘sweet spot’ badminton set rackets for $110 each from Sport Australia Pty Ltd, a large manufacturer of sports products. Sport Australia has an annual turnover of more than 30 Million and has an accruals basis accounting system. Global Athletes Pty Ltd plans to sell the badminton set rackets at a 200% mark-up to its customers. In January last year, it purchased 100 racquets. However, in April, it discovered that 10 of these racquets had design faults, and it returned them to the manufacturer and obtained a full refund. Explain the GST consequences of this arrangement for both parties.Shushi Bae is a Koren based in South Korea. She established Shushi Samgyup in the Philippines and registered the same at the Department of Trade and Industry and the Bureau of Internal Revenue as Non-VAT. She hired Nicanor as the General Manager in-charge of all the operations of the head office and its branches. Total receipts for the 2021 are hereunder accounted: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Head Office NCR 500,000 400,000 500,000 400,000 Cebu Branch 250,000 300,000 200,000 Davao Branch 100,000 200,000 How much the total percentage tax is she required to pay for the year 2021?