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1 year ago

Who benefits from deducting the amount paid in state income tax from their income for purposes of computing federal income tax?

1 answer:

3 0

The person that benefits from deducting the amount paid in state income tax from their income for purposes of computing federal income tax is option a: Everyone who must pay state income tax.

<h3 /><h3>What are Income tax in the United States?</h3>

Income taxes in the United States is known to be a kind of a tax that is often imposed by the federal government, as well as a lot of states.

Note that the income taxes are said to be set by applying a tax rate as income increases, and as such,

Therefore, The person that benefits from deducting the amount paid in state income tax from their income for purposes of computing federal income tax is option a: Everyone who must pay state income tax.

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A corporation acquires new funds only when its securities are sold in the

Varvara68 [4.7K]

C so sorry I’m wrong

8 0

3 years ago

Calculating the Predetermined Overhead Rate, Applying Overhead to Production, Reconciling Overhead at the End of the Year, Adjus

Usimov [2.4K]

Answer:

Instructions are listed below

Explanation:

Giving the following information:

Estimated:

Overhead $160,000

Direct labor hours 80,000

Han uses normal costing and applies overhead based on direct labor hours.

For January, direct labor hours were 8,150.

By the end of the year, Han showed the following actual amounts:

Overhead $166,000

Direct labor hours 79,600

Assume that the unadjusted Cost of Goods Sold for Han was $176,000.

1) Predetermined overhead rate= total estimated overhead for the period/ total amount of allocation base

Predetermined overhead rate=160000/80000= $2 per hour

2) Applied overhead (January)= Predetermined overhead rate*actual hours= 2*8150= $16,300

3) Applied overhead for the year= 2*79600= $159,200

Over/under applied= actual overhead - applied overhead= 166000 - 159200= 6800 underapplied

4) COGS= 176000

Underapplied overhead= 6800

COGS adjusted= $182,800

3 0

3 years ago

What can a food surplus lead to?

gayaneshka [121]

A food surplus in a society can lead to many different things. But based on the principles of supply and demand a surplus of food should lead to a reduction in the price of food, because the quantity supplied is most likely higher than the quantity demanded. In addition a food surplus could lead a country or companies to sell their food surplus internationally or to "dump" the goods on another country or market by selling the goods for a very cheap price most likely lower than the price of the good in that market prior to the entry of this new producer or country with the food surplus.

4 0

3 years ago

n the first two years your investment increases by 2.5% annually, in the third year it returns 12% but in the fourth year it goe

mote1985 [20]

Answer:

Ans. The average annual rate of return over the four years is 2.792%

Explanation:

Hi, first let´s introduce the formula to use

$r(Average)=\sqrt[n]{(1+r(1))*(1+r(2))*(1+r(3))+...(1+r(n))}-1$

Where:

r(1),(2),(3)...n are the returns in each period of time

n =number of returns to average (in our case, n=4).

With that in mind, let´s find the average annual return over this four years.

$r(Average)=\sqrt[4]{(1+0.025)*(1+0.025)*(1+0.12)+(1-0.07))} -1=0.022792$

Therefore, the average annual return of this invesment in 4 years is 2.2792%

Best of luck.

5 0

3 years ago

During the current period, Department A finished and transferred 50,000 units to Department B. Of the 50,000 units, 20,000 were

antoniya [11.8K]

Answer:

A. $1,615

Explanation:

Provided information,

Total transferred units = 50,000

Opening units = 20,000 which were 1/5 th complete

Equivalent units = 4,000

That means on the remaining 20,000 - 4,000 = 16,000 units full overheads were applied.

30,000 units were started and completed during the month, for which entire overheads will be added.

Newly started = 10,000 units 3/5th complete = 6,000 units completed in closing inventory.

Therefore total equivalent completed units on which overheads applied = 16,000 + 30,000 + 6,000 = 52,000 units

Ending goods in inventory = 10,000 units which are 6,000 equivalent units completed

Total overheads for the month = $14,000

Overheads = $14,000/52,000 = 0.269 per unit

For 6,000 units = $1,615 .38

Therefore correct option is

A. $1,615

8 0

3 years ago