Answer:
b) $113,000
Explanation:
For the computation of net income under absorption costing first we need to follow some steps which is shown below:-
variable overhead per unit = $105,000 ÷ 35,000
= $3 per unit
The Variable cost of production per unit
Particulars Amount
Direct material $19.00
Direct labor $21.00
Variable overhead $3.00
Variable cost of production
per unit $43.00
Cost per unit of finished goods under absorption costing
Particulars Amount
Total direct material cost $665,000
($19 × 35000)
Total direct labor $735,000
($21 × 35000)
Total variable overhead $105,000
Total fixed overhead $175,000
Total $1,680,000
Units in finished goods = Number of units produced - units sold
= 35,000 - 21,000
= 14,000
Cost of finished goods under variable costing
= Variable cost of production per unit × Number of units in finished goods
= $43 × 14,000
= $602,000
Cost of goods sold
= Production cost - Finished goods cost
= $1,680,000 - $602,000
= $1,078,000
Income statement under absorption costing
Particulars Amount
Sales revenue $1,491,000
($71 × 21,000)
Less: cost of goods sold -$1,078,000
Gross Profit $413,000
Less : operating expenses -$300,000
Net operating income $113,000
Answer:
fiscal policies
Explanation:
Fiscal policy refers to the way that the government modifies its total spending and tax rates in order to guide the nation's economy. Fiscal policies work together with monetary policies (regulation of money supply) as a government attempt to influence the economic cycle. When the government implements an expansionary fiscal policy(increase spending and decrease taxes) it will attempt to boost economic growth.
Accomplished, Achieved, Active in, Awarded, Assisted, Broadened, Built, Chaired, Championed, Completed, Delegated, Distinguished, Enacted, Enhanced, Facilitated, Formulated, Graduated, Granted, Handled, Helped, Implemented, Improved, Increased, Initiated, Joined, Kept, Led, Licensed, Managed, Mastered, Navigated, Netted, Obtained, Outlined, Performed, Placed, Qualified, Received, Recorded, Secured, Served, Taught, Trained, Understudied, Undertook, Verified, Volunteered, Widened, Worked.
Hope these help!!!
Answer:
it is not allocatively efficient
Explanation:
Monopoly is a market condition where one seller has all the market share. This leads to an inefficient market structure, an increase in the prices of goods and services and abnormal profits. A problem with adopting a fair return polity for a natural monopoly is that it is not allocatively efficient. In a monopoly, goods and services are not produced to help the economy or people.
These were Kane's best brief variations. in Kane's 2021 income statement, the deferred portion of its provision for earnings taxes must be $a hundred thirty-five,600.
An income tax is an instantaneous tax that a central authority levy on the income of its residents. The earnings Tax Act, 1961, mandates that the significant government acquire this tax. The authorities can change the income slabs and tax charges every year in its Union finances. income does now not best imply cash earned in the form of earnings.
Any Indian citizen elderly beneath 60 years is prone to pay earnings tax if their earnings exceed 2.5 lakhs. If the person is above 60 years of age and earns greater than Rs. three lakhs, they'll pay taxes to the authorities of India.
Income taxes are a source of revenue for governments. they're used to fund public services, pay authorities' responsibilities, and provide goods for residents.
Learn more about Income taxes here:
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