The three major types of firms in the united states are called

Requirement For each of the following, indicate whether the amount is taxable:

kodGreya [7K]

Answer and Explanation:

All these situations are taxable under lottery tax in the U.S.A, under Federal tax rule, there is 25% amount of winning money you have to pay under lottery tax rule.

If the acceptance of the prize is not based on significant potential benefits and the payment is charged by the education department to a tax-exempt agency approved by Linda, option "C" might be withheld from income.

5 0

3 years ago

If a company must expand capacity to accept a special order, it is likely that there will be an increase in unit variable costs.

Lelechka [254]

Answer:

If a company must expand capacity to accept a special order, it is likely that there will be an increase in fixed costs.

Explanation:

The fixed costs are the part of the total costs of production that remain constant during a given reference quantity in a certain period. These include, for example, depreciation of fixed assets or rental or interest expenses. Since fixed costs are incurred regardless of the application quantity (short-term), they cannot be apportioned to the unit costs according to the cause.

In the present case, given that the company must expand its capacity to take the special order, it means that all of its production factors are totally devoted to production, so that in order to produce a greater quantity of goods, the productive factors must be increased, which are part of the fixed production costs that the company has. Therefore, as the costs of production are altered, there will be an increase in fixed costs.

6 0

2 years ago

Madole Corporation has two production departments,Forming and Customizing.The company uses a job-order costing system and comput

Ludmilka [50]

Complete Question:

Madole Corporation has two production departments,Forming and Customizing.The company uses a job-order costing system and computes a predetermined overhead rate in each production department.The Forming Department's predetermined overhead rate is based on machine-hours and the Customizing Department's predetermined overhead rate is based on direct labor-hours.At the beginning of the current year,the company had made the following estimates:

Machining Customizing Machine-hours Direct labor-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour 20,000 2,000 $90,000 $88,000 18,000 1,000 $ 2.00 $ 4.00 During the current month the company started and finished Job K973. The following data were recorded for this job: Job K973 Machine-hours Direct labor-hours Machining Customizing 70 40 40 60.

a. Calculate the estimated total manufacturing overhead for the Forming Department.

b. Calculate the predetermined overhead rate for the Customizing Department.

c. Calculate the total overhead applied to Job K973 in both departments.

Answer:

Madole Corporation

a. Calculation of the Estimated total manufacturing overhead:

Machining Customizing Total

Total fixed manufacturing overhead cost $90,000 $88,000 $178,000

Variable manufacturing overhead cost 36,000 80,000 116,000

Total overhead cost $126,000 $168,000 $294,000

Estimated total manufacturing overhead cost for the Forming Department = $126,000

b. Calculation of the predetermined overate rate for the Customizing Department = Overhead cost/Direct labor hours

= $168,000/2,000

= $84 per direct labor hour

For Forming department = $126,000/18,000 = $7 per machine hour

c. Total overhead applied to Job K973:

Machining = 70 * $7 = $490

Customizing = 60 * $84 = $5,040

Total overhead applied = $5,530

Explanation:

a) Data and Calculations:

Machining Customizing

Machine-hours 18,000 20,000

Direct labor-hours 1,000 2,000

Total fixed manufacturing overhead cost $90,000 $88,000

Variable manufacturing overhead per machine-hour $2.00

Variable manufacturing overhead per direct labor-hour $ 4.00

Data for Job K973

Machining Customizing

Machine-hours 70 40

Direct labor-hours 40 60

4 0

3 years ago

Rachael can afford a $380-per-month car payment. If she is being offered a 4-

Viktor [21]

Answer:

$16,963.91

Explanation:

380(1 - 1.003^-48)/0.003

= $16,963.91

5 0

3 years ago

Read 2 more answers

Alpha Company has assets of $620,000, liabilities of $260,000, and equity of $360,000. It buys office equipment on credit for $8

Sliva [168]

Answer: Increase in assets and increase in liabilities.

Explanation: As we know that accounting equation is denoted as :-

Assets = capital + liabilities

where,

. Assets are the resources owned by the firm for the generation of revenue.

. Capital means the funds procured by company in the form of contribution by the owners or in the form of debt.

. Liabilities are the obligations on the company.

.

Purchase of office equipment on credit will result in increase in assets as office equipment is used for administration purposes and as it is purchased on credit it will also increase its liabilities.

3 0

3 years ago