Sales tax is this type of tax because it represents a higher percentage of the income of lower income earners.

Florida Berry Basket harvests early-season strawberries for shipment throughout the eastern United States in March. The strawber

hjlf

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

The selling price is $110 per crate, variable costs are $90 per crate, and fixed costs are $272,000 per year. In the year 2008, Florida Berry Basket sold 49,000 crate.

Sales= 110*49,000= 5,390,000

Variable costs= 4,410,000 (-)

Contribution margin= 980,000

Fixed costs= 272,000 (-)

Net operating income= 708,000

6 0

3 years ago

Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2

Vikki [24]

Answer:

a. The predetermined overhead rate for 2017,

=Total Manufacturing overhead costs / direct labor Costs

= $840,000/100,000= $ 1.2 / direct labor or 120% of direct labor cost.

b. Raw materials Inventory $ 90,000 Dr.

Accounts Payable $ 90,000 Cr.

To record the purchase of raw materials on account

Direct Labor $ 70,000 Dr.

Wages Payable $ 54,000 Cr

Payroll Taxes $ 16,000 Cr

To record factory labor costs incurred.

Indirect materials $ 17,000 Dr

Indirect labor $ 20,000 Dr

Depreciation expense $ 12,000 Dr

Other manufacturing costs $ 16,000 Dr

Manufacturing Overhead Control Account $ 65,000 Cr.

To record Manufacturing Overheads incurred.

c. Work In Process $ 189,000 Dr

Job 50 Raw materials $ 10,000 Cr

Job 51 Raw materials $ 39,000 Cr

Job 52 Raw materials $ 30,000 Cr

Job 50Direct Labor $ 5000 Cr

Job 51 Direct Labor $ 25000 Cr

Job 52 Direct Labor $ 20,000 Cr

Job 50 Manufacturing Overhead ( 1.2 * 5000) $ 6000Cr

Job 51 Manufacturing Overhead ( 1.2 * 25000) $ 30,000Cr

Job 52 Manufacturing Overhead ( 1.2 * 20,000) $ 24,000Cr

To record the materials, direct labor and manufacturing costs to Job 50,51 and 52. It can be summarized as follows

Work In Process $ 189,000 Dr

Raw materials $ 79,000 Cr

Direct Labor $ 50000 Cr

Manufacturing Overhead ( 1.2 * 50000) $ 60000Cr

6 0

3 years ago

Good Foods has net income of $82,490, total equity of $518,700, and total assets of $1,089,500. The dividend payout ratio is .30

dexar [7]

Answer:

5.6%

Explanation:

Internal growth rate can be calculated as below:

Internal growth rate = (Return on asset x Retention Rate)/[1 - (Return on asset x Retention Rate)]

Retention rate = 1 - Payout ratio = 1 - 30% = 70%

Return on asset = Net income/Asset = 82,490/1,089,500 = 7.6%

Putting all the number together, we have:

Sustainable growth rate = (7.6% x 70%)/[1 - (7.6% x 70%)] = 5.6%

8 0

4 years ago

Hãy lựa chọn 1 công ty sử dụng dịch vụ nghiên cứu của marketing của các nhà cung cấp bên ngoài.

anygoal [31]

Answer:

may I know which language

8 0

3 years ago

In year 1, Lawrence Corp. purchased equipment for $100,000. Lawrence uses straight-line depreciation over a 10-year useful life

UkoKoshka [18]

Answer:

$90,000 and $86,000

Explanation:

In year 1, Lawrence Corp. purchased equipment for $100,000. Lawrence uses straight-line depreciation over a 10-year useful life with no residual value for financial reporting purposes.

In year 1, tax depreciation was $14,000. At the end of year 1, the carrying value for accounting purposes is $90,000, and the tax basis is $86,000.

Carrying value = Cost - Depreciation to date = 100,000 - (100.000 cost / 10 years) = $90,000

While tax basis = Cost - Tax depreciation = $100,000 - $14,000 = $86,000

6 0

4 years ago

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