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4 years ago

8

For individual taxpayers, deductible losses for tax purposes do not include _____. business losses investment losses personal lo

sses personal casualty or theft losses

1 answer:

galben [10]4 years ago

6 0

<span>For individual taxpayers, deductible losses for tax purposes do not include personal losses. </span>

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In January, Knox Company requisitions raw materials for production as follows: Job 1 $936, Job 2 $1,690, Job 3 $767, and general

oksano4ka [1.4K]

Answer:

Materials used in production go to Work in Process so;

= 936 + 1,690 + 767

= $3,393

The materials used in the general factory will go to Manufacturing Overhead.

Date Debit Credit

Jan 31 Work in Process $3,393

Manufacturing Overhead $ 667

Raw Materials Inventory $4,060

5 0

3 years ago

Why is it important for businesses to understand the role of economics?

MrRa [10]

Answer:

Business economics often handles the analysis of various costs that business firms incur. Every business always desires to minimize their costs and maximize its profits by embracing different economies of scale. Nonetheless, the firms fail to determine exact costs that are involved in the production process.

6 0

3 years ago

Suppose that the market for haircuts in a community is perfectly competitive and that the market is initially in long-run equili

zloy xaker [14]

Answer:

C) earning an economic profit.

Explanation:

Since the market is in long run equilibrium, the demand = the supply of haircuts, and an increase in the quantity demanded will increase the equilibrium price in the short run, generating economic profits at least until more suppliers enter the market and long run equilibrium is established again. Economic profit doesn't exist when the market is at long run equilibrium.

*Economic profit = accounting profit - implicit costs. So economic profit being $0 in the long run doesn't mean the businesses are not making an accounting profit.

5 0

3 years ago

why do private sector firms seeking profit will allocate scarce resources to the production of goods and services and will it be

SashulF [63]

Answer:

Markets use prices as signals to allocate resources to their highest valued uses. ... Businesses also have dual roles—they supply goods and services and demand resources. The interaction of demand and supply in product and resource markets generates prices that serve to allocate items to their highest valued alternatives.

Explanation:

Hope this helped.. ;)

8 0

3 years ago

Lawler Manufacturing Company expects annual manufacturing overhead to be $810,000. The company also expects 45,000 direct labor

8_murik_8 [283]

Answer:

A. Overhead allocation rates based on direct labour hours = $18 per direct labour hour

B. Overhead allocation based on direct labour cost = 0.6

C. Overhead allocation rates based on machine time = $40 per machine time hour

Explanation:

Here, we are interested in having some calculations done; We proceed as follows;

From the question, the total overhead = 810,000

Mathematically;

a. The overhead allocation rates based on direct labour hours = Amount of total overhead/Total direct labour hours

= 810,000/45,000 = $18 per direct labour hour

b. The overhead allocation based on direct labour cost = Amount of total overhead / Total direct labour costs

= 810,000/1,350,000 = 0.6

C. Overhead allocation based on Machine time = Amount of total overhead/total machine time hours = 810,000/20,250 = $40 per machine time hour

7 0

3 years ago