PC Quiz 1 by Chua - CUD

Maureen Wroblewitz paid P 762,500.00 for the Value Added Tax of her imported ivory, rate of duty is at 5% and the miscellaneous expense paid amounted to P 22,572.00, exclusive of VAT. How much is the customs duty?

• ₱ 274,522.13

• ₱ 300,561.09

• ₱ 301,504.51

• ₱ 253,263.79

Compute for the customs duty of a shipment of the office furniture with CPT value $ 10,500, FRT per invoice of $ 700.00, FRT per airway bill of $750.00, Insurance of $ 800.00, with the rate of duty of 7%. Use the exchange rate of ₱50.00/$1.00

• ₱ 39,725.00

• ₱ 37,611.00

• ₱ 37,485.00

• ₱ 40,565.00

An importation of silver ores with an excise tax Php 2,787.56 and freight of $250. Compute for the customs duty if the rate of duty is 10% and exchange rate of ₱53.892/$1.

• ₱ 7,272.66

• ₱6,969.69

• ₱ 6,968.90

• 7,372.60

Mr. Chua imported 1x20 container STC: 20 boxes of perfume arrived at the MICP and each box weighs 350 grams with letter of credit. The said shipment has a CFR of $1,134.73 and $39.25 insurance with no OR. If the freight is $125.50 and rate of duty is 5% ad valorem, compute for the total amount of VAT. Use the exchange rate. ₱48.69/1$.

• ₱ 7,289.90

• ₱ 8,669.94

• ₱ 7,296.76

• ₱ 8,522.52

Shipment: 2X20, STC:Various Sport Shades CIF:$18,750.00 (w/ letter of credit) Total FRT:$1,500.00 Total ME:P17,118.16, Rate of Duty:15%, Exchange Rate:$50.250/ $1.00. FIND VALUE ADDED TAX

• ₱ 117,170.86

• ₱ 130,022.00

• ₱ 134,468.46

• ₱ 132,076.05

The aggregate value of landed cost and excise tax is ₱2,400,000.00. If the ME is ₱50,000.00, calculate the amount of customs duty if the imported goods is a traditional automobile with 5 seating capacity having an excise tax worth 20% of the landed cost.

• ₱ 300,000.00

• ₱ 350,000.00

• ₱ 400,000.00

• ₱ 450,000.00

Shipment : General Cargo; CPT, NAIA : $20,000; FRT/AWB : $1,000; ROD: 5%; Exchange Rate : ₱50/$1 ME without arrastre chargeand wharfage due : ₱20,000; Arrastre Charge and wharfage due : ₱7,000. Compute for the VAT

• ₱ 130,794.00

• ₱ 131,634.00

• ₱ 129,234.00

• ₱ 132,332.12

LC : ₱1,200,000; ME : ₱56,700; ROD : 5%. Compute for the VAT if the imported goods are imitation jewelries.

• ₱ 240,000.00

• ₱ 170,132.57

• ₱ 220,579.08

• 180,090.00

How much is the wharfage due if the gross weight of the shipment is 1,763,668.43032 ounces and the wharfage due rate is ₱34/MT pier side. (net of VAT)

• ₱ 1,700.00

• ₱ 1,904.00

• ₱ 1,834.00

• ₱ 1,800.00

CFM fishing Corp. imported frozen foods from South Korea in two FEUs, if the CPT value of $ 35,000 includes freight of $4,200, compute for the customs duty of the shipment. If the terminal handling charges in the origin as separately invoiced reflected to be $800 and rate of duty 4%. Use exchange rate P50.00/$1.00

• ₱ 71,232.00

• ₱ 72,464.00

• ₱ 74,128.00

• ₱ 74,064.00