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3 months ago

The Heidelberg Company began the period with a balance of $13,000 in its Work in Process (WIP) account. During the period the

Business

1 answer:

mixas84 [53]3 months ago

6 0

The cost of goods manufactured is $34,000

What is cost of goods manufactured?

The cost of goods manufactured is the cost of the units of finished goods manufactured during the period under review.

The cost of goods manufactured is determined as opening work-in-process plus labor direct costs, direct materials cost, applied manufacturing overhead and thereafter we deduct the ending work in process, note that the estimated overhead is applicable since the materials are computed using the purchase cost

cost of goods manufactured=$13,000+$16,000+$10,000+$17,000-$22,000

cost of goods manufactured=$34,000

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americans pay federal, state, and local governments nearly percent of every dollar they earn in taxes.

frozen [14]

nearly 41.1 percent of every dollar they earn in taxes.

the required details about taxes is given in below link

In the United States, the primary source of tax revenue was from individual income taxes (federal, state, and municipal).

sources of US tax revenue.

The United States relies substantially more on individual income taxes and property taxes than the OECD average. Individual income taxes generated 41.1 percent of total tax revenue in the United States, compared to an average of 24 percent in OECD countries—a 17.1 percentage point differential.

This is mainly due to the fact that in the United States, more than half of business income is reported on individual tax returns. In comparison to other OECD nations, the United States' method of taxing business income increases the share of tax revenue from individual income taxes and decreases the share of tax revenue from corporate taxes.

to know more about US tax revenue.

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4 months ago

Next to the following list of eight characteristics of business organizations, select a brief description of how each characteri

Gemiola [76]

Answer:

1. Owner authority and control - one vote per share, readily transferred

2 Ease of formation - requires government approval

3. Transferability of ownership - readily transferred

4. Ability to raise large amounts of capital - high ability

5. Duration of life - Unlimited

6. Owner liability - limited

7. Legal status - separate legal entity

8. Tax status of income - corporate income is taxed

Explanation:

A corporation is a business type :

1. Ownership of a corporation can be acquired by acquiring shares of the corporation.

2. A corporation requires government approval and a lot of legal requirements before it can be formed.

3. A corporation can raise capital through issuing shares, bonds and borrowing from financial institutions .

4. The liability of shareholders who are the owners are limited to the amount invested.

5. Corporate income is taxed and profit distributed to shareholders are also taxed.

6. A corporation is a separate legal entity.

7. The life of a corporation can be unlimited.

8. One share is equal to one voting right.

I hope my answer helps you

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2 years ago

At a price of $5/hour, bob wants to hire three workers. when the price rises to $7/hour, bob wants to hire only two workers. bob

Rashid [163]

$5 per worker
5*3=15
$7 per worker
7*2=14
total of what he pays the workers per hour
15+14=29
he pays the workers 29 dollars per hour

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2 years ago

Suppose you are trying to understand the effect that an increase in the price of grapes will have on the market for wine.

NemiM [27]

Answer:

The correct answer is option d.

Explanation:

The most effective model to understand the effect of change of a variable on other variable is by assuming other factors to be constant. This simplifies the model and helps in easily understanding the relationship between the two variables.

Though the assumption of other things being constant does not apply in the real world, it is still used as otherwise change in other factors would complicate the model. If several factors change it would be difficult to understand the relationship between variables.

Here, to study the effect of change in the price of grapes on the market for wine, it is necessary to assume other factors such as income, consumer preferences, etc to be constant.

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2 years ago

In a year in which common stocks offered an average return of 18%, Treasury bonds offered 10% and Treasury bills offered 7%, the

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Among us in real life sus sus c

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