Savannah Corporation should report revenue from investment for 2017 in the amount of $80,000.
<h3>Amount to be reported as revenue</h3>
First step
Percentage ownership=35,000/140,000 shares ×100
Percentage ownership=25%.
Second step
Using equity method
Revenue from investment=25%× $320,000
Revenue from investment=$80,000
Therefore Savannah Corporation should report revenue from investment for 2017 in the amount of $80,000.
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The amount of Doug's taxable income is <u>$27,700</u>.
<u>Explanation</u>:
<u><em>GIVEN</em></u>:
AGI = $35,000
State income taxes = $2300
Local property taxes = $3000
Medical expense = $800
Charitable contribution = $2000
Total deduction amount= State income taxes+Local property taxes+Charitable contribution
= 2300+3000+2000
= $ 7300
Total deduction amount= $7300
Taxable income= $35000- $7300
= $27,700
The amount of Doug's taxable income is <u>$27,700</u>.
Answer:
A technological advance makes it possible to produce more of good X with less labor. As a result, labor is released from producing good X. Some of this labor ends up producing goods Y and Z.
Explanation:
Answer:
the increased in the labor productivity is 23.08%
Explanation:
The computation of the increased in the labor productivity is given below;
= (Increase in production - current production) ÷ current production
= (1,920 valves - 1,560 valves) ÷ 1,560 valves
= 23.08%
hence, the increased in the labor productivity is 23.08%
Therefore the same should be considered
Answer:
overhead rate: 17.5
Explanation:
The difference between applied an actual overhead is calculated as follows:
actual hours x overhead rate - actual cost = over or underapplied overhead
underapplied means actual were higher than applied
while, overapplied means the actual cost were lower.
Based on this information we can set up the foermula as follows:
overhead rate x 32,000 -540,000 = 20,000
now we solve for the rate:
rate = (20,000 + 540,000) / 32,000 = 17.5
