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max2010maxim [7]
3 years ago
15

Flip's Pizzeria Inc. has the following financial items for the current year: Advertising Expenses $50,000 Cost of Goods Sold $66

0,000 Other Operating Expenses $390,000 Sales $1,830,000 Wages and Salaries $520,000 Capital Gain $15,000 Calculate Flip's taxable income for the current year.
Business
1 answer:
Allisa [31]3 years ago
7 0

Answer:

Flip's taxable income for the current year is $2,10,000.

Explanation:

Given information:

Advertising Expenses = $50,000

Cost of Goods Sold = $660,000

Other Operating Expenses = $390,000

Sales = $1,830,000

Wages and Salaries = $520,000

Capital Gain = $15,000

The formula for taxable income is

Taxable income for corporation = Gross Sales - cost of goods sold - operating expense - Interest expense - Tax deduction/ credit

Where,

Operating expense = Advertising Expenses + Wages and Salaries + Other Operating Expenses

Using this formula we get

\text{Taxable income for corporation}=1830000-660000-(390000+520000+50000)

\text{Taxable income for corporation}=210000

Therefore, Flip's taxable income for the current year is $2,10,000.

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timurjin [86]

Answer: The answers are provided below

Explanation:

There are several similarities between the project management processes which surround scrum to the traditional project management processes which surrounds a project life cycle such as Waterfall. When one looks at each iteration as a project, one will see that Scrum planning meeting will be identical to planning meeting of the traditional project.

The daily standups in scrum will resemble the monitoring and the controlling of traditional waterfall with the exception that in scrum, its team monitors itself. A sprint would be the execution stage while the sprint review will be like project closure lessons that are learned. Sprint can be seen as small waterfall model project.

However, the main difference is in the scrum's team mindset versus the team of the traditional project management. Also, the process of work defining as being completed is different for the teams. Lastly, the method used by the scrum team in its approaches to work, team collaboration, responsibility acceptance, tasks definition and accountability are different from the traditional project management team.

A hybrid approach will be sensible in a large organization which has pockets of power. This is true for large retails that have old legacy systems in which frequent deployments aren't possible.

This is true for systems in which, testing can't be automated due to the fact that automated testing is a vital part for success for large scrum projects. In such organizations, it is sensible to use scrum for the teams which are able to move to scrum and waterfall can be used for other parts of the organization.

6 0
3 years ago
"A company currently using an inspection process in its material receiving department is trying to install an overall cost reduc
Bogdan [553]

Answer:

$23.32

Explanation:

We have the given information as below:

Defective content average = 0.04

Number of units inspected per hour = 53

Hourly rate = $10

Cost involved in final product testing = $11

Now to determine if the inspector position is eliminated, we will need to calculate the number of defective products:

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defective products = 0.04 × 53 = 2.12

the hourly cost of defects = defective products × Cost involved in final product testing

The hourly cost of defects = 2.12 × $11 = $23.32

4 0
3 years ago
Unified Modeling Language (UML) Class diagrams describe the logical structure of a database system. True or False True False
Mashcka [7]

Answer:

True

Explanation:

The work of software developers is quite tough and confusing that is why the system of language was created to help them in their work. The system of language is known as a unified modelling language, it uses various diagrams to help them in solving various complex problems. This language provides a standard way to visualise the concepts that is why it is a logical structure of a database system.

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3 years ago
Television is a popular advertising medium among companies selling products and services that are consumed by mass markets becau
Natasha2012 [34]

Answer:

It has the ability to reach large audiences in a relatively cost-efficient manner.

Explanation:

Television is one of the medium used for advertising products by the sellers or the distributors or the suppliers. It is one of the mass media of advertising a product or service covering a large number of people at a particular time.

Since a cost incurred on an advertisement is just once in a few years moreover the same digital advertisement can be shown to a large or mass number of people at the same time thus proving that advertisement through television is cost effective or efficient as well.

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What is a market that runs most efficiently when one large firm supplies all of the output referred to as?
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7 0
3 years ago
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