TM314C PRELIM EXAM

Happiness Inc. imported 500 cartons of frozen yellow tuna fish from Mainland China arrived at South Harbor with each carton having a dimension of 25 cm x 30 cm x 50 cm and weighs 35 kilograms. If pierside discharging is made, how much is the total arrastre charges, exclusive of value-added tax?

• P13,944.00

• P12,450.00

• P11,620.00

• P13,014.00

A shipment of 50 boxes containing laptops from China arrived at Port of Cebu and was covered by letter of credit with total CPT value of $28,700.00 inclusive of freight charges of $3,000.00 while the air waybill shows air freight charges of $3,100.00. Inclusive of value-added tax, how much is the total bank charge? Use rate of exchange P41.75/$1.00.

• P1,529.82

• P1,713.40

• P1,556.65

• P1,743.45

Gray Corporation imported 200 sacks of cement from Australia. The shipment arrived at Port of Manila with each sack weighing 170 pounds. How much is the total wharfage dues paid to BOC?

• P471.08

• P565.14

• P632.96

• P527.61

A shipment of 10 x 40’ vans containing straws from Japan arrived at South Harbor. Each container weighs 20,000 kilograms. How much is the total arrastre charges inclusive of value-added tax?

• P95,771.20

• P46,587.50

• P52,178.00

• P119,714.00

A shipment of 8 x 40’ vans containing pesticides from Japan arrived at Port of Manila. Each containers weighs 24,00 kilograms. How much is the total wharfage charges inclusive of value-added tax?

• P6,232.40

• P6,980.29

• P4,154.80

• P4,653.38

A shipment of 50 crates of galvanized coil arrived at South Harbor. Each crate had a gross weight of 1,000 pounds. The total volume is 22 cubic meters. If pierside discharging is made, compute the arrastre charges paid to BOC.

• P3,500.00

• P3,920.00

• P3,969.00

• P4,445.28

An importation of 5 x 40 FCL: STC General Merchandise arrived at Port of Manila. If the discharged was pier side, calculate the amount of wharfage due for purposes of filing the SAD.

• P 2,596.75

• P 2,908.36

• P 3,895.25

• P 4,362.68

Cyrene Furniture’s imported 100,000 pieces of logs from Thailand in 6” X 8” X 12’ per piece, to be discharged at Manila International Container Port. Calculate the amount of arrastre charge for purposes of computing the value added tax.

• P31,400.00

• P35,168.00

• P31,428.57

• P91,200.00

Find total landed cost if a shipment has a total dutiable value of P3,560,000.00. The rate of duty is 10%, miscellaneous expense is P35,000.00 and the excise tax amounts to P800,000.00.

• P3,951,000.00

• P4,751,000.00

• P3,916,000.00

• P3,560,000.00

It is a customs fee paid by the importer for services rendered and documents issued by the Bureau of Customs.

• Import Processing Fee

• Customs Documentary Stamp

• Bank Charge

• Brokerage Fee