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pav-90 [236]
3 years ago
7

Vendors at Municipal Stadium sell their wares at prices that include the city, state, and transit district sales taxes; the tota

l of these taxes is 8.25 percent when added to prices that do not include the sales tax.
a. Convert this 8.25 percent tax-exclusive sales tax rate into its tax-inclusive equivalent rate (Hint: Use the method outlined for VAT calculations.)
b. A vendor has receipts (including sales tax) at a game of $15,325. What sales tax must the vendor remit to the tax authorities?
Business
1 answer:
dem82 [27]3 years ago
7 0

Answer:8.25/108.25

It means the goods is sold of tax inclusive rate 8.25

B.$1167.96

8.25/108.25 * 15325= $1167.96 this is the amount to be remitted to the tax authority as the sales was inclusive of vat.

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Deere & Company is a global manufacturer and distributor of agricultural, construction, and forestry equipment. The company
barxatty [35]

Answer:

Days in Inventory = 63 days

Explanation:

We know,

Days in Inventory = 365 days ÷ Inventory Turnover

Given,

Inventory turnover = Cost of goods sold ÷ Average Inventory

Inventory turnover = 16,936 ÷ [( $2,410 + 3,430) ÷ 2]

Inventory turnover = 16,936 ÷ (5,840 ÷ 2)

Inventory turnover = 16,936 ÷ 2,920

Inventory turnover = 5.8

Putting the values into the formula, we can get

Days in Inventory = 365 days ÷ Inventory Turnover

Days in Inventory = 365 days ÷ 5.8

Days in Inventory = 63 days

3 0
3 years ago
Suppose that the U.S. government decides to charge wine consumers a tax. Before the tax, 50,000 bottles of wine were sold every
grigory [225]

Answer:

$4

$1 and $3

False

Explanation:

As per the data given in the question,

a)

Amount of tax for each bottle is $4 because the sellers are receiving $2 and buyers are paying $6. Therefore,

Amount of the tax on a bottle of wine is $6 - $2 = $4

b)

Burden on the consumer = $6 - $5

= $1

Burden on the seller = $4 - $1

= $3

c)

False, because the tax incidence depends on the flexibility or elasticity  of market.

6 0
3 years ago
The burndown chart is a Scrum created artifact that provides a list of features prioritized by business value. True False
sp2606 [1]

Answer:

False

Explanation:

The burndown chart  is a visual analysis tool used in projects execution to express the work completed daily against the outstanding purposely to ensure that project are completed and delivered with the agreed timeline.

It measures effort in relation to the level of work done and also keep the team on daily schedule.

The chart represents the work done on the vertical (Y) axis and the time on the horizontal (X) axis.

7 0
3 years ago
At the beginning of the year, Rangle Company expected to incur $54,000 of overhead costs in producing 6,000 units of product. Th
Flauer [41]

Answer:

Total cost of the units made in January = $35,400

Explanation:

Direct material cost in January = Direct material cost per unit * Units produced in January = $20 * 600 = $12,000

Direct labor cost in January = Direct labor cost per unit * Units produced in January = $30 * 600 = $18,000

Overhead costs in January = (Units produced in January / Expected units for the year) * Expected overhead costs for the year = (600 / 6,000) * $54,000 = $5,400

Therefore, we have:

Total cost of the units made in January = Direct material cost in January + Direct labor cost in January + Overhead costs in January = $12,000 + $18,000 + $5,400 = $35,400

5 0
3 years ago
Which of the following traits is most likely to be associated with the “A” in RIASEC?
Vilka [71]
The correct answer is creative.

Thank me by clicking on the ❤️. Thanks!
6 0
3 years ago
Read 2 more answers
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