Question:

"We Like Sweaters, Arts, and Sweets," also known as "WLSAS," recently purchased many products. First, they purchased sweaters from a factory in China. The manufacturing processes were as follows: the knit-to-shape sweater panels (approximately 70 percent of the exterior surface area) were knit to the shape in Singapore; the goods were transported to China for assembly of the major components; the goods were transported to Vietnam for embroidery work, applications of front pockets, quality control, trimming, finishing, and packaging; the completed sweaters were exported from Vietnam, destined for the United States.

In addition to sweaters, WLSAS also purchased 1000 pounds of sweet corn, 500 pounds were from Germany at $1 per pound, and 500 pounds were from Mexico at $0.5 per pound.

Finally, WLSAS also purchased 100 framed lithographs. The lithographs were purchased from a seller in Singapore called L-Heaven. The terms of this transaction were as follows:

The invoice value was $10,000.

The value of frames is $500, and WLSAS provided all frames to L-Heaven.

CIF Charleston, SC - duty paid, MPF included.

Price includes international freight of $1,000, and $500 marine insurance.

The deal also involved a buying commission of $500 that WLSAS paid to an agent to assist him with the deal.

Duty rate is 10%

MPF rate was 0.3464%

1. Which country is the correct country of origin for the knit-to-shape sweaters? Please explain.

2. In terms of duty paid to the U.S. Government, how much will WLSAS have to pay for all the sweet corn imported from abroad?

3. What is the correct transaction value (entered value) for the imported lithographs?

qunion 11 The carrying value of the bond moves towards the Not yet answered Select one: Marked out of 150 O face value Flag question Interest expense O coupon interest rate present value watson 12 Cash paid to bondholders each period is calculated by multiplying the by the nowwered Select one: Marked out of O face value, coupon interest rate Fap question O face value, present value O plus. minus Not applicableQUESTION 12 Accumulated Depreciation and Fees Earned would be sorted to which respective columns in completing a work sheet? Balance Sheet and Statement of Owner's Equity-Credit; and Income Statement-Credit. Income Statement-Debit and Income Statement-Credit. Balance Sheet and Statement of Owner's Equity-Debit; and Income Statement-Credit. Balance Sheet and Statement of Owner's Equity-Debit; and Balance Sheet and Statement of Owner's Equity-Credit. Balance Sheet and Statement of Owner's Equity-Debit; and Income Statement-Debit. QUESTION 13 How is profit margin calculated? Discuss its use in analyzing a company's performance. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). T TT Arial # 3 (12p0) . T - - - 3 . Words:6 Path: p QUESTION 14 Farmers' net income was $740,000 and its net sales were $8,000,000. Calculate its profit margin ratio.QUESTION 28 Which of the following is not a method of capital budgeting: A. Modified pay-back method O B. Modified internal rate of return (IRR) O C. Internal rate of return (IRR) O D. Net-present value QUESTION 29 Which of the following depreciation methods does not use salvage value? A. Some-of-the-year-digits O B. Double declining balance C. Unit output O D. Straight-lineQUESTION 6 "What would be more valuable, receiving $107 today or receiving $120 in 5 years if interest rates are 2 5% and by how much would it be the more valuable alternative?" Both are worth the same amount Insufficient date provided to determine an answer to this question O Receiving $107 / $1 higher Present Value Receiving $120 / $1 higher Present Value Receiving $107 / $106 higher Present Value Receiving $120 / $106 higher Present Value QUESTION 7What does Year 0 represent in a cash flow timeline? When the very first cash flow occurs 5-2 Future Values Calculate the future value given the following information below: Amount invested at year 0: $80 Number of years invested: Interested rate with annual compounding: 5-3 Present Values-Question 1 Calculate the present value given the following information below: Amount at end of year 6 $1,000 Interested rate with annual compounding: 3%