Answer:
Option (e) is correct.
Explanation:
Taxable Income:
= Net income per book - municipal bond interest + deduction for business meals + deduction for a net capital loss + deduction for federal income taxes
= $100,000 - $4,000 + 50% of $5,000 + $5,000 + $22,000
= $125,500
Eliot Corp.'s current earnings and profits (Current E&P) for 2014:
= Taxable Income + municipal bond interest - deduction for federal income taxes - deduction for a net capital loss
= $125,500 + $4,000 - $22,000 - $5,000
= $102,500
Answer:
1,370.85 Unfavorable
Explanation:
Standard rate
:
= Budgeted variable overhead costs ÷ Budgeted direct labor hours
= $13500 ÷ 640
Direct labor hours = $21.09 per direct labor hour
Standard time to produce goods
:
= Budgeted direct labor hours ÷ Production volume
= 640 ÷ 6,400
= 0.10 hours
VOH Efficiency Variance
= ( SH − AH ) × SR
where,
SH are standard direct labor hours allowed
AH are the actual direct labor hours
SR is the standard variable overhead rate
(SH − AH ) × SR
= [(4,200 × 0.10) - 485] × $21.09
= (420 - 485) × $21.09
= 1,370.85 Unfavorable
Answer: Global Company
Explanation:
<u>A Global Company</u> is a type of multinational corporation that centralizes its management and other decisions in the home country.
None of these answers are correct. However, I will assume you accidentally wrote "global economy" instead of "global company" because global company is actually the answer.
Thank you for posting your question here at brainly. Below are the choices that should accompanied with the question above, the answer is letter C.
a. He bought several apartments to rent out under Airbnb
b. He became an Uber driver
c. He lived out of Airbnb rentals full-time
d. He became a bell hop at a San Francisco Hilton Hotel
<span>e. All of the above</span>
Answer:
1. 45.5%
2. 13.3%
3. 7.2%
Explanation:
The formulas and calculations are shown below:
1. Gross margin = (Sales - cost of sales) ÷ (sales) × 100
= ($10.1 million - $5.5 million) ÷ ($10.1 million) × 100
= ($4.6 million) ÷ ($10.1 million) × 100
= 45.5%
Gross profit = Sales - cost of sales
2. Operating margin = (Gross profit - selling, general and administrative expenses - research and development - annual depreciation charges) ÷ (sales) × 100
= ($4.6 million - $460,000 or $0.46 million - $1.4 million - $1.4 million) ÷ ($10.1 million) × 100
= ($1.34 million) ÷ ($10.1 million) × 100
= 13.3%
Operating income = Gross profit - selling, general and administrative expenses - research and development - annual depreciation charges
3. Net profit margin = (Operating income - taxes) ÷ (sales) × 100
= ($1.34 million - $0.6097 million) ÷ ($10.1 million) × 100
= ($0.7303 million) ÷ ($10.1 million) × 100
= 7.2%
The income tax expense = Operating income × income tax rate
= $1.34 million × 45.5%
= $0.6097 million
