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- Jupiter Engine Company has recently negotiated contracts to sell 1 of its X-model engines to a customer in England and 1 of its Z-model engines to a customer in Germany. Jupiter will be paid in 3 months in the currency of its customers. The engine selling prices are: X-model 200,000 British pounds Z-model 265,500 Euros Jupiter’s costs to produce each engine in US dollars: X-model $225,000 Z-model $270,000 Today’s exchange rates: GBpound/US$ 1.20 US$ /Euro 0.90 Calculate Jupiter’s profits from each engine sale, based on today’s exchange rates. (Profit = Price in US dollars - costs in US dollars) Jupiter will not actually be paid for 3 months. If they choose not to hedge themselves against currency fluctuations by locking in today’s rate, they will either make less or more profit based on changes in the exchange rate. Would they prefer to see the US dollar get STRONGER or WEAKER during this period?…Westinghouse Company, a producer of washing machines, sells various customers. It has a contract to deliver 10 fully automatic washing machines to Soft and Wash Company for a total price of P400,000. The contract contains a clause for free repairs and maintenance services for a period of two years from date of purchase. Soft & Wash paid 50% of the price and half after 3 months. 1. How much sales revenue vill be recognized by Westinghouse on this sale? P400,000 b. P100,000 а. C. P200,000 d. No revenueClayton Industries sells medical equipment worldwide. On March 1 of the current year, the company sold equipment, with a cost of $160,000, to a foreign customer for 200,000 euros payable in 60 days. At the same time, the company purchased a forward contract to sell 200,000 euros in 60 days. In another transaction, the company committed, on March 15, to deliver equipment in May to a foreign customer in exchange for 300,000 euros payable in June. This equipment is anticipated to have a completed cost of $210,000. On March 15, the company hedged the commitment by acquiring a forward contract to sell 300,000 euros in 90 days. Changes in the value of the commitment are based on changes in forward rates, and all discounting is based on a 6% discount rate. Assume all hedges are accounted for as fair value hedges and that the spot-forward difference is included in the assessment of hedge effectiveness. Various spot and forward rates for the euro are as follows: Spot Rate Forward Rate for…
- You SUckaroo CC. a ho(keyequipment business, estimates that it will sell 3 400 pairs of shin pads per year from a distributor in Spain. Each pair costs R 195.00 to purchase and R18.00 in freight charges. The company borrows funds at an interest rate of 9% per annum to finance inventories. Stickaroo ccs purchasing agent has calculated that it costs R 472.00 to place an order for each pair of shin pads and that the holding cost is R 6.00 for each pair. Calculate the eoq.A company produces jackets for €20 each in Portugal, which has a corporate tax rate of 21%. It then transfers its products to its Irish subsidiary for resale to the Irish public at a sales price of €30 per jacket. The corporate tax rate in Ireland is 12.5%. Calculate the total after-tax profit in the two countries if the company uses a transfer price of €23 and it sells 10,000 jackets. ANSWERS: €84,950 €15,050 €66,500 €8,495 €8,750On May 1, RR Products Company ships five (5) of its appliances to SZ Company on consignment. The cost of the appliances shipped is 155 per unit. The consignor paid shipping costs totaling 50. Each unit is to be sold at 250 payable 50 in the month of purchase and P10 per month thereafter. The consignee is entitled to 20% of all amounts collected on consignment sales. SZ Company was able to sell 3 appliances in May and 1 in June. Regular monthly collections by the consignee, and appropriate cash remittances have been made to the consignor at the end of each month . 17. What is the total amount of remittance to consignor as of June? A. P-0- B. P184 C. P64 D. P200 18. How much is the profit on consignment? A. P150 B. P294 C. P140 D. None of the above 19. What is the cost of inventory on consignment? A. P155 B. P165 C. P245 D. None of the above Con
- D'Mask Bhd sells 3 ply surgical face masks. On 1 January 2020, D'Mask entered a contract with Topeng Bhd under which Topeng Bhd was to purchase one box of the face masks at RM20 from D'Mask. The contract states that if Topeng Bhd purchases more than 5,000 boxes of masks in a year, the price per box is reduced retrospectively to RM18 per box (i.e. all purchases will be RM18 per box). D'Mask Bhd's year end is 31 December. As at 31 March 2020, Topeng Bhd bought 600 boxes from D'Mask. D'Mask therefore estimated that Topeng Bhd's purchases would not exceed 5,000 boxes in the year to 31 December 2020, and Topeng Bhd would therefore not be entitled to the volume discount. During the quarter ended 30 June 2020, due to high demand, Topeng Bhd purchased an additional 3,000 boxes of masks from D'Mask. D'Mask then estimated that Topeng Bhd's purchases would exceed the threshold for the volume discount in the year to 31 December 2020. Required: Compute the revenue D'Mask Bhd would recognise in the…Williams Corporation imports, from a number of German manufacturers, large machining equipment used in the tooling industry. On June 1, the company received delivery of a piece of machinery with a cost of 450,000 euros when the spot rate was 1 euro equals $1.370. Williams had already paid 50,000 euros, when the spot rate was 1 euro equals $1.350, to the German company at the time of placing the order, and the balance of the invoice was due in 60 days after delivery. On June 15, the company became concerned that the dollar would weaken relative to the euro and proceeded to purchase an option to buy euros on July 31 at a strike price of 1 euro equals $1.375. The hedge was designated as a fair value hedge. At the time of purchase, the out-of-the-money option had a value of $1,400 and a value of $2,600 at June 30. Euro spot rates are as follows: 1 euro =June 15 . . . . . . . . . . . . . . . . . . . . . . . . . .…On October 5, 2024, the Lalisa Trading Company consigned 48 computer units, costing P 8,000 each, to Jennie, Inc. The units were to be sold on either cash or credit basis at a commission of 15% of net sales. Lalisa paid freight of P 1,800 on the shipment. On November 11, Jennie received the goods. Sales were made as follows: · October 15 – 10 units for cash at P 13,000 each · October 28 – 12 units on account at P 14,000 each On October 31, 2024, collections on accounts amounted to P 95,000, and an allowance of P 2,000 was given to a charge customer for a defective unit. On November 15, 2024, Jennie made the proper remittance of cash received from customers. Required: 1. Determine the amount of remittance 2. Determine the consignment profit 3. Determine the cost of ending inventory on consignment
- MJ Company consigned five calculators, with cost of P800 each, to the JM Company which was to sell these goods for the account and ink of the former for a commission of 15% of selling price. The MJ Company paid shipping costs of P200 on the shipment. Correspondingly. JM Company paid P320 on the freight of the shipment. On the last day of the year, JM Company reported that it had sold three of the calculators, two for cash at P1,500 each and one on credit at P1,800, of which 25% was collected as down payment. JM Company remitted all the cash due. 6. The amount of cash remitted by JM Company is? 7. The consignment profit (loss) is? 8. The amount of inventory on consignment of MJ Company is? Thank you! Please answer completeAmianan Company consigned five calculators, with cost of P800 each, to the Bisdak Company which was to sell these goods for the account and ink of the former for a commission of 15% of selling price. Amianan Company paid shipping costs of P200 on the shipment. Correspondingly, Bisdak Company paid P320 on the freight of the shipment. On the last day of the year, Bisdak Company reported that it had sold three of the calculators, two for cash at P1,500 each and one on credit at P1,800, of which 25% was collected as down payment. Bisdak Company remitted all the cash due. 1. How much is the remittance of the consignee to the consignor?2. How much is the consignment profit?ABC Co. sells Product X, Product Y, and Product Z to a customer for a lump sum price of P90,000. The products will be delivered at a different point in time. ABC Co. regularly sells products X, Y and Z separately at P20,000, P40,000 and P60,000, respectively. How much is the allocated transaction price of Product Z?
