Answer:
$1,650,000
Explanation:
Preparation of the lower portion of the 2021 income statement .
2021 Income from continuing operations before income taxes5,800,000
Income tax expense(1,450,000)
($5,800,000 × 25 %)
Income from continuing operations4,350,000
Discontinued operations:
Loss from operations of discontinued component(3,600,000)
Income tax benefit 900,000
(25*3,600,000)
Loss on discontinued operations(2,700,000)
Net income$1,650,000
(4,350,000-2,700,000)
Therefore the the lower portion of the 2021 income statement is $1,650,000
Answer: The correct answer is "b. comb and sort the fibers.".
Explanation: Once these were complete, the next step would be to <u>comb and sort the fibers.</u>
The first step was to gather and clean the fibers and then comb and classify the fibers according to their nature.
Answer:
The product cost for 24,500 units is $497,350.
Explanation:
The reason is that the the product cost always includes all the variable production cost and specific fixed production cost. In this scenario, direct material cost, direct labor cost, variable manufacturing overhead cost are variable production cost whereas the fixed manufacturing cost is specific fixed production cost which will form part of product cost. The remainder of the cost left is period cost.
Direct materials (24,500 * $7.7 per unit) $188,650
Direct labor (24,500 * $4.7 per unit) $115,150
Variable manufacturing overhead (24,500 * $2.2 per unit) $53,900
Fixed manufacturing overhead (24,500 * $5.7 per unit) <u>$139,650 </u>
Total product costs $497,350
Answer:
False
Explanation:
Capital gains and losses netting will have no effect on tax payable. The individual impact on tax will be same as of netting the gains and losses. The net outcome of the tax will be remain un impacted.
<u>Answer:</u>
The correct answer for this is: Gross Rent Multiplier.
<u>Explanation:</u>
The type of a simplified alternative to capitalization of net income that does not take into account bad debts or expenses is called Gross Rent Multiplier (GMR).
Gross Rent Multiplier is used to find the approximate net incomes that does not include any bad debts or expenses.
Also, it is considered as the quickest tool to estimate the values, such as of a building.
