Product Cost Markup Percentage Apex Lighting Inc. produces and… Product Cost Markup Perc

Product Cost Markup Percentage Apex Lighting Inc. produces and… Product Cost Markup PercentageApex Lighting Inc. produces and sells lighting fixtures. An entry light has a total cost of $64 per unit, of which $32 is product cost and $32 is selling and administrative expenses. In addition, the total cost of $64 is made up of $44 variable cost and $20 fixed cost. The desired profit is $12 per unit.Determine the markup percentage on product cost. Round the answer to nearest whole number.fill in the blank 1 %2.The following items are reported on a company’s balance sheet:Cash$500,200Marketable securities390,800Accounts receivable (net)510,400Inventory161,700Accounts payable539,000Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place.a.  Current ratiofill in the blank 1b.  Quick ratiofill in the blank 23.A project is estimated to cost $186,846 and provide annual net cash flows of $38,000 for six years.Present Value of an Annuity of $1 at Compound InterestYear6%10%12%15%20%10.9430.9090.8930.8700.83321.8331.7361.6901.6261.52832.6732.4872.4022.2832.10643.4653.1703.0372.8552.58954.2123.7913.6053.3522.99164.9174.3554.1113.7843.32675.5824.8684.5644.1603.60586.2105.3354.9684.4873.83796.8025.7595.3284.7724.031107.3606.1455.6505.0194.192Determine the internal rate of return for this project, using the Present Value of an Annuity of $1 at Compound Interest table shown above.fill in the blank 1 %4. The cash flows from operating activities are reported by the direct method on the statement of cash flows. Determine the following:a.  If sales for the current year were $655,200 and accounts receivable decreased by $47,200 during the year, what was the amount of cash received from customers?$fill in the blank 1b.  If income tax expense for the current year was $53,200 and income tax payable decreased by $6,800 during the year, what was the amount of cash payments for income taxes?$fill in the blank 2c. Briefly explain why the cash received from customers in part (a) is different from sales.Because the customers paidmoreless than the amount of sales for the period, cash received from customers exceededis less than sales made on account by $47,200 during the current year. Accounting Business Managerial Accounting ACCT 21201 Share QuestionEmailCopy link