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iragen [17]
3 years ago
12

The managerial accountant at Donuts Galore needs to compute the target operating income to determine how much would need to be s

old to earn a target net income of $900, assuming a 40% tax rate. To earn a target net income of $900, what is the target operating income?
Business
2 answers:
Orlov [11]3 years ago
7 0

Answer:

$1500

Explanation:

Targeted Income after tax is $900

Tax rate is 40%

Income before tax = $900/(1-0.4) = $1500

soldi70 [24.7K]3 years ago
5 0

Answer:

To earn a target net income of $900,  the target operating income must be $ 1500.

Explanation:

Target Net Income = Target Operating Income ( 1- Tax Rate)

Target Operating Income = Target Net Income/ 1- Tax Rate

Target Operating Income= $900/ 1- 40%

Target Operating Income=  $900/ 1-0.4

Target Operating Income=$900/0.6

Target Operating Income= $ 1500

To earn a target net income of $900, the target operating income must be

$ 1500

Target Income Sales in Dollars = Target Income Sales in Units *Price per Unit

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In the long run, profits in a monopolistically competitive market are zero because: a. of government regulations. b. of collusio
zvonat [6]

Answer:

c. firms are free to enter and exit the market.

Explanation:

A monopolistically competitive market is a market in which there are a lot of organizations that sell products that are similar and it tends to be easy to enter and leave the industry. Because it is easy for a company to enter the market and there is a lot of competition, in the long run the economic profit is zero. According to this, the answer is that in the long run, profits in a monopolistically competitive market are zero because firms are free to enter and exit the market.

The other options are not right because a monopolistically competitive market has zero profits because of its low entry barriers and amount of competitors not because of government regulations or an illegal agreement between organizations to control competition. Also, in a monopolistically competitive market the products are similar.

6 0
3 years ago
At a promotion interview, it is important to ________.
stich3 [128]
Be honest about your qualifications
6 0
3 years ago
Read 2 more answers
Equipment costing $16000 is purchased by paying $4000 cash and signing a note payable for the remainder. The journal entry shoul
grigory [225]

Answer:

c. credit to notes payable

Explanation:

Based on the information given we were told that the Equipment which cost the amount of $16000 was purchased by paying the amount of $4000 as cash which means that if the company sign a NOTE PAYABLE for the remainder. The journal entry should include a: CREDIT TO NOTES PAYABLE

5 0
3 years ago
The following information summarizes the standard cost for producing one metal tennis racket frame at Spaulding Industries. In a
astra-53 [7]

Answer:

Actual Price paid for materials = $4.2136 \times 2,200 = $9,270

Actual price per unit = $4.2136

Explanation:

Provided information,

Standard Material per unit = $4

Total cost = $8,400

Standard Quantity = $8,400/$4 = 2,100 units

Provided Material Price variance = $470 unfavorable = - $470

= (Standard Price - Actual Price) \times Actual Units

Material Quantity Variance = $400 Unfavorable = - $400

= (Standard Quantity - Actual Quantity) \times Standard Rate

Using Material Quantity Variance

- $400 = (2,100 - Actual Quantity) \times $4

-$400/$4 = 2,100 - Actual Quantity

Actual Quantity = 2,100 + 100 = 2,200 units

Now, putting this value in Material Price Variance we have,

- $470 = ($4 - Actual Price) \times 2,200

-$470/2,200 = $4 - Actual Price

- $0.214 = $4 - Actual Price

Actual Price = $4 + $0.2136 = $4.2136

Final Answer

Actual Price paid for materials = $4.2136 \times 2,200 = $9,270

Actual price per unit = $4.2136

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