Question
Xoiswa Company manufactures a product that is packaged and sold. A plate is offered to customers sending in three wrappers accompanied by a remittance of
Xoiswa Company manufactures a product that is packaged and sold. A plate is offered to customers sending in three wrappers accompanied by a remittance of P10. Data with respect to the premium offer are summarized below:
| 2018 | 2019 | |
| Sales | 3,600,000 | 4,200,000 |
| Purchase of premium, P50 per plate | 390,000 | 580,000 |
| Number of plates distributed as premiums | 5,000 | 9,000 |
| Estimated number of plates to be distributed in next period | 2,000 | 3,000 |
| Distribution cost P20 per plate |
|
|
What is the premium expense for 2019?
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Payroll Accounting 2019
Authors: Bernard J. Bieg, Judith A. Toland
29th Edition
1337619779
