Answer:
Deferred tax assets = $2 million
Explanation:
Given:
Total expenses on income statement = $5 million
Marginal tax rate = 40%
Effective tax rate = 32%
Find:
Deferred tax assets
Computation:
Deferred tax assets = Total expenses on income statement x Marginal tax rate
Deferred tax assets = 5 million x 40%
Deferred tax assets = $2 million
Answer:
the inventory should be recorded at $8,500
Explanation:
As we know that according to GAAP, the inventory should be recorded at a cost or net realizable value whichever is lower
So as per the question
Historical cost is $12,000
And, the net realizable value is
= Expected selling price - expected selling cost
= $9,000 - $500
= $8,500
So, the lower cost is $8,500
Hence, the inventory should be recorded at $8,500
Answer: C. will be favorable
Explanation:
Variable overhead efficiency variance simply means the difference between the time that it takes to manufacture a particular product and the time that was budgeted for the product.
Since the time incurred for the product was 2300 hours while the budgeted time was (600 × 4) = 2400 hours, then the variable overhead efficiency variance is favorable.
Answer:
A. i am a good communicator, and i am a strong team member
Explanation: