Tax rates refer to the percentage of income that is taxed, whereas tax revenues refer to the dollars collected by the government in taxes.
The partnership most likely formed is a general partnership.
<h3>What is a general partnership?</h3>
A general partnership is when two or more people come together to form a business. The people who come together to create the business are referred to as partners.
In a general partnership, all the partners are responsible for the running the company. All the partners have an unlimited liability.
To learn more about partnerships, please check: brainly.com/question/9909227
Answer:
1. The fixed portion of the predetermined overhead rate for the year is $10,000 per direct labor hour.
2. The fixed overhead budget variance is $4,000 unfavourable and the fixed overhead volume variance is $10,000 favourable.
Explanation:
In order to calculate the the fixed portion of the predetermined overhead rate for the year we would have to use the following formula:
predetermined overhead rate for the year=<u>Total fixed overhead cost year</u>
Budgeted direct labor-hours
=$ 250,000/25,000
=$10,000
1. The fixed portion of the predetermined overhead rate for the year is $10,000 per direct labor hour.
In order to calculate the fixed overhead budget variance, we use the following formula:
2. fixed overhead budget variance=Actual fixed overhead cost for the year- budgeted fixed overhead cost for the year
=$ 254,000-$ 250,000
=$4,000 unfavourable
In order to calculate the fixed overhead volume variance, we use the following formula:
fixed overhead volume variance=budgeted fixed overhead cost for the year-fixed overhead appliead to work in process
=$ 250,000-(26,000×10)
=$10,000 favourable
Step 1) Make the equation describing the situation:
y = 0.045 x + 250
Where x is the sales and y is his total earning.
if,
y = 500 (total earning)
then,
500 = 0.045 x + 250
500 - 250 = 0.045 x
250 = 0.045 x
x = 250/0.045
x = $5,555.55
The total value of his sales should be $5,555 to earn a total of $500.
Answer:
5.01%
Explanation:
The bond nominal yield to call is 5.01%
