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1 year ago

Target costing sets costs based on the price that customers are willing to pay.

Business

1 answer:

Alisiya [41]1 year ago

6 0

It is False that Target costing sets costs based on the price that customers are willing to pay.

Because target costing estimates product cost by subtracting a desired profit margin from a competitive market price. As the target cost makes reference to the competitive market, it is fundamentally customer-focused and an important concept for new product development.

Costing is any system for assigning costs to an element of a business.

Competitive is most commonly used to describe a person who has a strong desire to compete and win.

Development is the act, process, or result of developing the development of new ideas an interesting development in the case.

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Lance, Art, and Wayne have joined together to open a law practice but are struggling to manage their cash flow. They haven’t yet

mixas84 [53]

Answer:

This is very simple, they should start billing their clients right away.

You don't have to bill your clients for the full legal expenses, but they for sure need to start making some money.

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When you open a business you have to keep some money as reserve to cover some expenses for at least a few months.

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2 years ago

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Helen [10]

Answer:

A is the correct answer I think hope this helps

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2 years ago

Read 2 more answers

. Archie can claim total deductible medical expenses that exceed 7.5% of his adjusted gross income. a. True b. False

Thepotemich [5.8K]

The correct answer is; False, as of 2020.

Further Explanation:

In the previous tax years, 2017-2018, this statement would of been correct. Archie could of claimed his total deductible medical expenses that exceeded 7.5% of his AGI. However, the laws changed for 2019 and this is no longer the correct way to claim medical expenses.

For the 2019 taxes, a person can only deduct any expenses that amount to over 10% of the total AGI per person. The deduction can be figured by taking your AGI and multiplying this total by 10%. The deductions will also have to be itemized before claiming.

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3 0

3 years ago

Andrew earns $45,300 in taxable income annually, and pays federal income taxes of $5,345. 40. What is Andrewâ€™s net federal inc

ASHA 777 [7]

Based on the information given Andrewâ€™s net federal income tax rate is c. 11.8%.

Using this formula

Net federal income tax rate=Federal income taxes / Taxable income

Where:

Federal income taxes= $5,345.40

Taxable income=$45,300

Let plug in the formula

Net federal income tax rate=$5,345.40/$45,300

Net federal income tax rate=0.118×100

Net federal income tax rate=11.8%

Inconclusion Andrewâ€™s net federal income tax rate is c. 11.8%.

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2 years ago

The following terms relate to the fundamental qualities of useful information. Match the key letter of the correct term with the

Bumek [7]

Answer:

1. Providing information that is not biased toward one position or another.

c. Neutral

As an accountant, you cannot prepare, record or select information in order to favor someone's personal interests.

2. Providing information before it loses its capacity to influence decisions.

d. Timely

Information must be available when it can influence future decisions. E.g. having a 2010 cost report today is useless if you are preparing next year's budget.

3. Providing information that is proven to be free from error.

b. Faithful representation

Faithful representation means that information must be accurate, complete, neutral, and free from errors.

4. Providing information that would make a difference in a business decision.

g. Relevant

Relevant information should be material and be either predictive or confirmatory.

5. Provide information that accurately depicts what really happened.

b. Faithful representation

Faithful representation means that information must be accurate, complete, neutral, and free from errors.

6. Providing information that confirms or corrects prior decisions.

a. Confirmatory value

It can be used to check, confirm or correct prior reports or evaluations.

7 0

2 years ago