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1 year ago

The Smith home has an assessed value of $64120, and their tax rate is 3.2%. What is their annual tax bill?

Business

1 answer:

Kruka [31]1 year ago

7 0

The annual tax bill of Smiths' house is $64120.

A tax is a compulsory fiscal burden or another type of levy imposed on taxpayers by government agencies to fund government expenditures and various public expenditures. A written claim for money owed by an individual or entity in taxes. It is used to fund and pay interest on federal debt.

The Smith home has an assessed value of $64120

tax rate = 3.2%.

The annual tax bill

= ($64,120 x . 032 = $2,051.84).

Hence, the annual tax bill is $2,051.84.

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B.F. Goodrich has been manufacturing and marketing automotive tires for over one hundred years. It spends much of its marketing

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Answer:

maturity

Explanation:

Based on the information provided within the question it can be said that the tires are in the maturity stage of their product life cycle. This is the longest stage in the product life cycle in which the introduction and growth stages has already passed and the product advertisements have minimal impact on sales since people have already seen the product. This seems to be the case since Goodrich has sold it's tires for more than a hundred years and only focuses on short term marketing.

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3 years ago

Discuss how the JIT concept differs between manufacturing and service companies.

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Similar to manufacturing, services use methods that add value to the raw materials required to make the finished product. JIT emphasizes the process rather than the end result. Therefore, it may be applied to any set of processes, whether they are involved in manufacturing or providing services.

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Between service and manufacturing organizations, there are five key differences: the tangible nature of their output; production on demand or for inventory; production tailored to the needs of a particular customer; labour-intensive or automated operations; and the requirement for a physical production location.

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2 years ago

Whether exchange is between individuals, firms, or countries, voluntary trade occurs because:

larisa86 [58]

Answer:

b.both parties are made better off.

Explanation:

People voluntary to trade when they will better off after the trade. Since individual or nation has different proficiency and endowment resources, the ability to produce some product will be different for each country.

For example, German people are skillful of making beer. They have efficient production. Whereas France have expertise in making perfume. It is reasonable for German people to buy perfume from France since it is cheaper and has better quality than making it themselves. On the other hand, if french want to drink beer, it is cheaper to buy from Germany. Thus, both Germany and France will be better of after the trade.

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3 years ago

Having a savings account can contribute to a person’s overall financial well-being. Which one of the following is NOT a benefit

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The answer is C..............

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3 years ago

Sims Company, a manufacturer of tablet computers, began operations on January 1, 2019. Its cost and sales information for this y

kakasveta [241]

Answer:

Results are below.

Explanation:

Absorption vs Variable costing method

The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.

The variable costing method incorporates all variable production costs (direct material, direct labor, and variable overhead).

1) First, we need to calculate the total unitary variable cost:

Unitary production variable cost= 35 + 55 + 40= $130

Selling and administrative costs for the year Variable $ 725,000

Unitary total variable cost= 130 + (725,000 / 80,000)= $139.06

Now, the variable income statement:

Sales= 80,000*350= 28,000,000

Total variable cost= (80,000*139.06)=(11,124,800)

Total contribution margin= 16,875,200

Fixed overhead= (6,600,000)

Fixed Selling and administrative costs = (4,250,000)

Net operating income= 6,025,200

2) First, we need to calculate the unitary production cost:

Unitary production cost= 130 + (6,600,000/110,000)= $190

Now, the absorption costing income statement:

Sales= 28,000,000

COGS= 80,000*190= (15,200,000)

Gross profit= 12,800,000

Total Selling and administrative costs= (725,000 + 4,250,000)= (4,975,000)

Net operating income= 7,825,000

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3 years ago