1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Usimov [2.4K]
1 year ago
6

Wallis company produces circuit boards in a foreign country that imposes a 15 percent vat. This year, wallis manufactured 8. 3 m

illion boards at a $5 material cost per unit. Wallis’s labor and overhead added $1 to the cost per unit. Wallis sold the boards to various customers for $7. 50 per unit for a net profit of $1. 50 per unit
Business
1 answer:
sdas [7]1 year ago
8 0

Wallis company owes a VAT of $9,337,500

The given question is about finding out VAT.

Wallis Company had manufactured 8. 3 million boards.

Therefore,

The quantity sold = 8.3 million = 8,300,000

The labor and overhead added $1 to the cost per unit. Whereas the net profit is $7. 50 per unit for a net profit of $1. 50 per unit.

Total Sales Value= Sales Quantity x Selling price per unit

= 8,300,000 x 7.50

= 62,250,000

Finding out the amount of VAT ( Being the Vat% imposed as 15%)

VAT amount = Sales value x VAT Rate

= 62,250,000 x 15%

= 62,250,000 x 15/100

= 62,2500 x 15

= 9,337,500

Wallis company owes a VAT of $9,337,500

Read more about VAT on:

brainly.com/question/28295269

#SPJ4

You might be interested in
Because your patented Gidgit is starting to gain attention and investors are starting to show interest, the executive committee
RideAnS [48]

Answer:

False.

Explanation:

Patent can be defined as the exclusive or sole right granted to an inventor by a sovereign authority such as a government, which enables him or her to manufacture, use, or sell an invention for a specific period of time.

Generally, patents are used on innovation for products that are manufactured through the application of various technologies.

Basically, the three (3) main ways to protect an intellectual property is to employ the use of trademarks, copyright and patents.

In this scenario, Because your patented Gidgit is starting to gain attention and investors are starting to show interest, the executive committee is considering becoming a publicly held company.

Since Gidgit is patented it cannot be sold to the government because it is a registered intellectual property that cannot be used or sold without the approval or consent of the owner.

4 0
3 years ago
The distinction between a current asset and other assets: A. is based on the ability to determine the current fair value of the
Scorpion4ik [409]

Answer: is based on when the asset is expected to be converted to cash, or used to benefit the entity.

Explanation:

Also known as a Short-Term asset, a current asset is an item of value that a company can either use or sale within a period to gain cash to clear current liabilities. Current assets can easily be converted to cash by sales or use.

3 0
3 years ago
Aztec industries produces bread which goes through two operations, mixing and baking, before it is ready to be packaged. next ye
solniwko [45]
Given the table showing <span>next year's expected costs and activities below:

\begin{tabular}&#10;{|C||C|C|}&#10; & Mixing & Baking\\[1ex]&#10;Direct labor hours&411,000 DLH&91,000 DLH\\&#10;Maching hours&811,000 MH&811,000 MH\\[1ex]&#10;Overhead costs&\$534,300&\$411,000&#10;\end{tabular}

Pard A:

</span><span>Aztec's departmental overhead rate for the mixing department based on direct labor hours is given by the mixing department's overhead cost divided by the mixing department's direct labor hours.

Thus, </span><span>departmental overhead rate for the mixing department based on direct labor hours is given by:

\frac{\$534,300}{411,000\ DLH} =\bold{\$1.30\ per\ DLH}



Part B:

</span>Aztec's departmental overhead rate for the baking department based on direct labor hours <span>is given by the baking department's overhead cost divided by the baking department's direct labor hours.

</span><span>Thus, <span>departmental overhead rate for the baking department based on direct labor hours is given by:

\frac{\$411,000}{91,000\ DLH} =\bold{\$4.52\ per\ DLH}



Part 3:

</span></span>Aztec's departmental overhead rate for the baking department based on machine hours <span>is given by the baking department's overhead cost divided by the baking department's machine hours.

</span><span>Thus, <span>departmental overhead rate for the baking department based on machine hours is given by:

\frac{\$411,000}{811,000\ MH} =\bold{\$0.51\ per\ MH}</span></span>
7 0
3 years ago
With respect to the consumer buying process, __________ is perhaps the most important factor that affects the time, effort, and
kupik [55]

Answer:

The Degree of Risk

Explanation:

With respect to the consumer buying process, the degree of risk is perhaps the most important factor that affects the time, effort, and expense dedicated to the search for information. When the higher risk is involved, we spend a lot of time in searching for information either from our external sources or internal sources. When the risk factor is less, then we do not spend much time and effort on searching for information. For example, when we are buying a packet of chips, we do not search information by spending much time and effort. But when we have to buy a car or a laptop, then we spend much time in searching for the information from all of the available sources because bad or wrong decision can cost us more in the case of buying a car or a laptop as compared to the buying of a packet of chips.

8 0
3 years ago
Caleb is driving a car in which dona is a passenger when an accident occurs. caleb and dona are emotionally rattled, but neither
SOVA2 [1]
<span>Caleb is not liable to Dona because she wasn't injured. The negligence theory is a theory whereby plaintiffs claim damages on the negligence caused by others. Dona wasn't physically injured; she can file a claim if she suffered physical injury, but emotional trauma is not injury in the purest sense.</span>
4 0
3 years ago
Other questions:
  • Which of these are loans to businesses or governments?
    9·2 answers
  • An example of a product that would be sold through niche marketing is
    10·1 answer
  • Valley Farms offers to sell Whole Harvest Bakeries, Inc., five hundred bushels of wheat. Whole Harvest responds, "We agree to bu
    8·1 answer
  • Cost allocation involves: Multiple Choice
    6·1 answer
  • Classify each characteristic as relating to a fixed exchange rate regime or a flexible, or floating, exchange rate regime.a. sig
    8·1 answer
  • The main goal of resource development is to find ways to promote the central planning of resource utilization so that resources
    12·1 answer
  • ________ often assist companies and their employees with ethical issues by formally addressing contributions to government offic
    5·1 answer
  • As people have become more healthminusconscious and decided to eat food that is better for them_________
    6·1 answer
  • What is a rat called?
    7·2 answers
  • Integrated Devices, Inc., is a private, for-profit corporation that is owned by five shareholders who are members of the same fa
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!