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2 years ago

Which category of texans, by income, pays the lowest amount of sales and excises taxes as a percentage of income?

Business

1 answer:

polet [3.4K]2 years ago

4 0

The second highest 20%, pays the lowest amount of sales and exercises taxes as a percentage of income.

A tax is a mandatory charge or economic charge levied by using any authorities on an individual or an employer to collect sales for public works imparting the nice centers and infrastructure. The gathered fund is then used to fund distinct public expenditure applications.

Sales tax is the largest cash generator in Texas, but seeing that 1989 Texans are spending less. The more money we spend the greater the state can spend. second to income tax, federal funding is the opposite supply of maximum revenue investment in TX. Federal funding is the alternative source of the highest sales investment in TX.

The most important cause of taxation is to elevate sources for governments to supply essential public offerings. Taxes pay for the various things which can be essential to functioning societies around the sector, consisting of health care, faculties, and social offerings.

Learn more about tax here brainly.com/question/26316390

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Output Total Cost 0 $24 1 33 2 41 3 48 4 54 5 61 6 69 Refer to the above data. The average fixed cost of producing 3 units of ou

3241004551 [841]

Answer:

Explanation:

Fixed cost is the cost that does not vary with output. It is the cost incurred even if output it zero - if no unit of output is produced.

fixed cost = average fixed cost x output

The fixed cost is $24. this is the cost incurred when output is zero

Average fixed cost = $24/3 = $8

8 0

3 years ago

Pauley Company needs to determine a markup for a new product. Pauley expects to sell 15,000 units and wants a target profit of $

gulaghasi [49]

Answer:

81%

Explanation:

Calculation for the markup percentage to variable cost that should be used

Using this formula

Markup percentage=[(Target profit + Fixed overhead costs + Fixed administrative costs) / Total variable costs

Let plug in the formula

Markup percentage=[($22*15,000 units)+$13,500+$21,000]/$30×15,000)

Markup percentage=($330,000+$13,500+$21,000)/$450,000

Markup percentage=$364,500/$450,000

Markup percentage=0.81*100

Markup percentage=81%

Calculation for Total variable costs

Variable product cost per unit $19

Variable administrative cost per unit $11

Total variable costs =$30

Therefore the markup percentage to variable cost that should be used will be 81%

8 0

4 years ago

A contingent liability is an obligation that should be: Question 2 options: A) Recorded in the accounts and classified in a cont

tester [92]

Answer:

D) Recorded in the accounts if the amount may be reasonably estimated and it is probable that the future event creating the obligation will occur

Explanation:

This is the best answer to the question

6 0

3 years ago

Identify the codification topic number that provides guidance on fair value measurements

Aneli [31]

Answer:

The right answer will be "FASB ASC 820".

Explanation:

FASB ASC 820 offers a fair market value structure for evaluating financial reports transactions, addresses appropriate valuation methodologies, addresses estimation methods inputs, and defines an accrual accounting hierarchy something which prioritizes inputs.
It needs detailed information about the value of program assets in the financial statements.

4 0

3 years ago

The I-75 Carpet Discount Store has an annual demand of 10,000 yards of super shag carpet. The annual carrying cost for a yard of

insens350 [35]

Answer:

5 units and $2,175

Explanation:

a. The computation of the economic order quantity is shown below:

= $\sqrt{\frac{2\times \text{Annual demand}\times \text{Ordering cost}}{\text{Carrying cost}}$

= $\sqrt{\frac{2\times \text{10,000}\times \text{\$150}}{\text{\$0.75}}$

= 2,000 units

The total cost of ordering cost and carrying cost equals to

= Annual ordering cost + Annual carrying cost

= Purchase cost + Annual demand ÷ Economic order quantity × ordering cost per order + Economic order quantity ÷ 2 × carrying cost per unit

= 10,000 × $8 + 10,000 ÷ 2,000 × $150 + 2,000 ÷ 2 × $0.75

= 80,000 + $750 + $750

= $81,500

Now in case of ordering 5,000 yields at discount price of $6.50 the total cost is

= Purchase cost + Annual demand ÷ Economic order quantity × ordering cost per order + Economic order quantity ÷ 2 × carrying cost per unit

= 10,000 × $6.50 + 10,000 ÷ 5,000 × $150 + 5,000 ÷ 2 × $0.75

= $65,000 + 300 + $1,875

= $67,175

Therefore there will be 5 units should store at a time and cost of inventory is 300 + $1,875 = $2,175

3 0

3 years ago