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ehidna [41]
3 years ago
9

Kevin is the financial manager of levingston bmw. the shop allows employees to purchase up to two vehicles at a discount. leving

ston's average gross profit percentage is 15%. this year kevin purchased a 530 model and a new m3. model fmv dealer cost employee price 530 $63,000 $50,000 $54,000 m3 $70,000 $60,000 $57,000 what amount must kevin include in income?
a. $0
b. $2,500
c. $2,950
d. $22,000
Business
1 answer:
SIZIF [17.4K]3 years ago
5 0

Kevin must take in $2,500 into his gross income. This is for the reason that the $13,000 ($70,000 -$57,000) discount got on the M3 is bigger than the qualified employee discount of$10,500 (sales price of $70,000 multiplied by the average gross profit percentage of 15%). There is no gross income from the acquisition of the 530 because the $9,000 ($63,000 - $54,000) reduction is less than the qualified employee discount of $9,450 ($63,000 multiplied by the average gross profit percentage of 15%).

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Explain why America has a debt problem.
kenny6666 [7]

Answer:

That's because as a country's economy grows, the amount of revenue a government can spend to pay its debts grows as well. In addition, a larger economy generally means the country's capital markets will grow and the government can tap them to issue more debt.

Explanation:

hope it helps

7 0
2 years ago
Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of
gizmo_the_mogwai [7]

Answer:

$27.2

Explanation:

First we have to calculate the total estimated manufacturing overheads which shall be determined as follows:

Estimated total manufacturing overheads=Variable manufacturing overhead+ Fixed manufacturing overheads

Variable manufacturing overhead=Estimated labour hours*manufacturing overhead per labour hour

                                                        =75,000*$10.70=$802,500

Fixed manufacturing overheads=$1,237,500

Estimated total manufacturing overheads=$802,50+$1,237,500

                                                                    =$2,040,000

Now we will compute the predetermined overhead rate which shall be determined using the following formula:

Predetermined overhead rate=Estimated total manufacturing overheads/Estimated labour hours

Predetermined overhead rate=$2,040,000/75,000=$27.2

3 0
3 years ago
According to this case study, what is an upcoming key technology that will be used in retail stores to improve customer service?
zloy xaker [14]

Answer:

 

1. According to the case study (copy attached) "the upcoming technology that will be used in retail stores to improve customer service is the Scan As You Go Mobile Devices".

2. It is currently being used by sales officers in some shopping malls to scan items on the spot and let customers pay without going through the cash registers.

It is also being used to help customers take advantage of discounts and coupons on items being purchased. The effect is that customers spend 10% when they shop using this technology.

3. In the future, the customers will be able to check out using their smartphones.

4. According to the case study, the technology referred to in 3 above is already pioneered by Apple Stores.

Cheers!

Download txt
5 0
3 years ago
Good strategy combined with good strategy execution: Select one: a. Offers a guarantee for avoiding periods of weak financial pe
Pachacha [2.7K]

Answer:

d. Are the most trustworthy signs of good management

Explanation:

The strategy refers to the planning through which the company could able to accomplish its goals and objectives within the prescribed time set by the company

The goods strategy mostly achieved the company targets within the standard time set by the company. And if the combination of both the good strategy and execution of the good strategy leads to the sign of good management i.e become trustworthy.

hence, the last option is correct

4 0
3 years ago
"Fresh Veggies, Inc. (FVI), purchases land and a warehouse for $460,000. In addition to the purchase price, FVI makes the follow
Artyom0805 [142]

Answer:

Cost of land = $519,000

Explanation:

<em>According to  International Accounting Standards (IAS)  16, property plants and equipments, the cost of land includes all of the cost necessary to bring and make it ready for the intended use. </em>

<em>These costs include purchase cost, fees and commission associated with the purchase transaction. </em>

<em>Further more, included in the historical cost are the net demolition cost of old structure to prepare the land for use. Net cost here means cost of demolition less any incidental proceed from the old structure.</em>

Note that all the costs incurred by FVI as reported all fall into the above definition of  cost of land.

Therefore the cost of the land would  be

=460,000 + 26,000 + 1,600+ 5,400 + 26,000

= $519,000

5 0
3 years ago
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