A. $ 5,000,000.00
B. $ 5,010,000.00
C. $ 5,025,000.00
D. $ 5,050,000.00
Related Mcqs:
- Shell Philippines, a multinational company, has a total gross income for a particular year of P 50,000,000. The taxable income after taking all deductions except for depletion is P 18,500,000. What is the allowable depletion allowance for that particular year? Take percentage of gross income for oil as 22%?
A. P 9,358.41
B. P 9,228.45
C. P 9,250.00
D. P 9,308.45 - A feasibility study shows that a fixed capital investment of P10,000,000 is required for a proposed construction firm and an estimated working capital of P2,000,000. Annual depreciation is estimated to be10% of the fixed capital investment. Determine the rate of return on the total investment if the annual profit is P3,500,000?
A. 28.33 %
B. 29.17 %
C. 30.12 %
D. 30.78 % - A leading shoe manufacturer produces a pair of Lebron James signature shoes at a labor cost of P 900.00 a pair and a material cost of P 800.00 a pair. The fixed charges on the business are P 5,000,000 a month and the variable costs are P 400.00 a pair. Royalty to Lebron James is P 1,000 per pair of shoes sold. If the shoes sell at P 5,000 a pair, how many pairs must be produced each month for the manufacturer to break-even ?
A. 2.590
B. 2,632
C. 2,712
D. 2,890 - Under the depletion allowance method in computing depreciation, the depletion charge is equal to either ________________ which ever is smaller ?
A. Fixed percentage of gross income or the net taxable income
B. Fixed percentage of gross income or 50% of the net taxable income
C. 50% of the fixed percentage of gross income or 50% of the net taxable income
D. 50% of the fixed percentage of gross income or the net taxable income - A manufacturer produces certain items at a labor cost of P 115 each, material cost of P 76 each and variable cost of P 2.32 each. If the item has a unit price of P 600, how many units must be manufactured each month for the manufacturer to break even if the monthly overhead is P428,000 _________________?
A. 1,033
B. 1,037
C. 1,043
D. 1,053 - The depletion allowance method of computing depletion is commonly known as ___________________?
A. Unit method
B. Percentage method
C. Factor method
D. Sinking fund method - Miss Calledo deposited P 1,000, P 1,500 and P 2,000 at the end of the 2nd year, 3rd year and 4th year, respectively in a savings account which earned 10% per annum. How much is in the account at the end of the 4th year ?
A. P 4,880.00
B. P 4,820.00
C. P 4,860.00
D. P 4,840.00 - The monthly demand for ice cans being manufactured by Mr. Camus is 3200 pieces. With a manual operated guillotine, the unit cutting cost is P25.00. An electrically operated hydraulic guillotine was offered to Mr. Camus at a price of P275,000.00 and which cuts by 30% the unit cutting cost. Disregarding the cost of money, how many months will Mr. Camus be able to recover the cost of the machine if he decides to buy now ?
A. 10 months
B. 11 months
C. 12 months
D. 13 months - Using factor method, the depletion at any given year is equal to ?
A. Initial cost of property times number of unit sold during the year divided by the total units in property
B. Initial cost of property divided by the number of units sold during the year
C. Initial cost of property times number of units sold during the year
D. Initial cost of property divided by the total units in property - An asset is purchased for P 9,000.00. Its estimated economic life is 10 years after which it will be sold for P 1,000.00. Find the depreciation in the first three years using sum-of-years digit method____________________?
A. P 3,279.27
B. P 3,927.27
C. P 3,729.27
D. P 3,792.72
