Mark Joseph L.

Carnice

BSCA

FINAL EXAM

CUSTOMS VALUATION

INSTRUCTION: Please show your solution.

1. Gamba Company imported 25 boxes of assorted toys with EXW process of USD350.00/Box,
packing and handling is USD500.00 freight per BL is USD 1,200.00. Compute the amount of the
following given the additional details.
Exchange Rate = Php 52.00/1USD
Rate of Duty is 5%

Dv in Dollar : __________10,635_________________ (5 points)

DV in Peso :_________553,020___________________ (5 points)

CUD : _____________27,651_______________(5 points)

2. Supposing shipment stated in number was imported under letter of Credit, compute the correct
amount of:
Bank Charge : _____________691.275___________ (2 points)
Brokerage Fee :_______5,741.275__________________(2 points)

3. XYZ corporation had an importation of assorted sandals amounting to USD50,000.00 FOB Term,
freight is USD1,000.00. Compute for the amount of insurance ______1,000_______? (1 points)

4. An importation of Luna Merchandise arrived Manila Port on 15 January 2022. Import documents
shows the following: 10 X 45’ stc frozen chicken feet, 5 x 20’ stc frozen pig loin, 15 x 40’ frozen
chicken wings all with rate of duty of 5%. Based on commercial invoice the value of the goods
totaled to CIF USD 1,500,000.00 and was imported under letter of credit. If the exchange rate is
53 to 1USD, Compute for the total amount of duties, taxes and other charges to be paid by the
importer. (25 points)

DV in peso - 79,500,000
bank charge – 99,375
CUD - 3,975,000
Brokerage fee - 104,425
Arrastre - 232,410
Wharfage - 23,447.5
 Import Processing fee - 1000
Customs documentary Stamps - 280
TOTAL = 83,935,937.5

5. A shipment of 10 x 20’ Rattan Bags and 15 X 45’ Rattan shoes departed Port of Manila on 17
January 2022. Compute the amount of the following. Exchange rate is 52 to 1$

Total Arrastre due VAT inclusive = ________85,204________________ 10 points

Total Wharfage due VAT Inclusive = ________7,721.6________________ 10 points
Total Amount of Container security fee : _____32,500_______________ 10 points

GOODLUCK!!!

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