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Nadya [2.5K]
4 years ago
6

When rice producers from china sold rice for a lower price in japan as compared to the price charged in china, it appeared the c

hinese rice producers were engaging in?
Business
1 answer:
AfilCa [17]4 years ago
7 0
<span>They were involved in dumping, which is a technique specially used in international trade where producers sell their product under the cost of production in another country, therefore, losing money, in an effort to increase their market share and create a monopoly of the sales. It's very unfair and disloyal</span>
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Assuming a FICA tax rate of 7.65% on the first $127,200 in wages, 1.45% on amounts in excess of $127,200, and a federal income t
Lelechka [254]

Answer:

$154524

Explanation:

If a federal tax rate is 20% on all wages then we subtract that amount from the total wage of $206000 for the year

20% from $206000 is $41200

$206000 - $41200 = $164800

We have deducted the federal tax rate and got the amount $164800

After we apply the FICA tax rate of 7.65% on the amount $127200 we get

7.65% of $127200 is $9730,8 so the first amount we have to remember is

$127200 - $9370,8 = $117469,2

Regarding the amount that excess $127200 that amount stands at

$164800 - $127200 = $37600

We apply the 1.45% rate to the amount $37600

1.45% of the $37600 is $545,2 so the second amount we have to remember is

$37600 - $545,2 = $37054,8

We now simply add the two calculated amounts

$117469,2 + $37054,8 = $154524

So the net pay for the year is $154524

7 0
4 years ago
Compute the amount of gross profit from the sales in July. (Hint: Add any underapplied overhead to, or deduct any overapplied ov
sasho [114]

Answer:

Gross profit = $790000

Explanation:

Suppose:

Sales = 1000000

Cost of goods sold = 200000

Actual overhead = 100000

Direct labor used = 15000 hours

Predetermined rate = $ 6 per hour

Computation of gross profit:

         Sales =                                                                             1000000

less:<u> Cost of goods sold</u>                    =200000      

Add: under applied overhead (w#1) = <u>10000</u>

                                                                                                 (<u>210000</u>)

                Gross profit                                                              790000

(w#1) Applied overhead = Actual labour hours * predetermined rate

                                         = 15000 * 6 = $90000.

   Actual overhead                              =  <u>100000</u>

Under applied overhead                          10000

3 0
4 years ago
Cost of Goods Sold account is debited and Finished Goods Inventory is credited for A) purchase of goods on account. B) the sale
Firlakuza [10]

Answer:

B) the sale of goods to a customer.

Explanation:

When goods are sold to a customer, the cost of goods sold account is debited by the same value that the finished goods inventory is credited.

For example, suppose a company sells $1,000 worth of goods to a customer, and the sales price is $1,200. The customer pays by cash the full value of the goods. The journal entry would be:

Account                                    Debit           Credit

Cash                                         $1,200

Sales Revenue                                             $1,200

Cost of Goods Sold                $1,000

Finished Goods Inventory                           $1,000

7 0
3 years ago
A deferred annuity is one in which interest charges are deferred for a stated time period. True or Flase
Colt1911 [192]

Answer:

False

Explanation:

A deferred annuity is a contract that guarantees a regular income or lump sum payments at a future date. It is a popular and effective way to supplement one's income in retirement days. Insurance companies mostly offer deferred annuities. The insured pays their premiums now and opts to delay in collecting their benefits until some later years. Deferred annuities are also a way of making long term savings.

7 0
3 years ago
Name two programs created by the economic opportunity act.
Flauer [41]

Answer:

Among the other programs funded by the EOA were the Neighborhood Youth Corps, which provided training and jobs for young people (age 16–21) from impoverished families, work-study programs, and community action programs. The act also provided loans to small businesses and farmers.

5 0
3 years ago
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