Answer:
$3,604
Explanation:
Calculation for what Smith's deferred income tax expense or benefit would be:
Using this formula
Deferred income tax expense =(favorable temporary difference-unfavorable temporary difference)*Tax rate
Let plug in the formula
Deferred income tax expense =($51,200-$40,600)*21%
Deferred income tax expense =$10,600*34%
Deferred income tax expense =$3,604
Therefore Smith's deferred income tax expense or benefit would be:$3,604
Answer:
$155,000
Explanation:
Given that,
Service revenues in 2017 = $200,000
Credit sales for 2017 = $170,000
Company also paid cash for 2017 wages = $25,000
Wages for 2017 not paid yet in cash = $20,000
Therefore,
Net income for 2017:
= Service revenues in 2017 - Cash paid for wages - Wages not paid yet in cash
= $200,000 - $25,000 - $20,000
= $155,000
Hence, the company’s net income for 2017 is $155,000.
Answer:
Because of trade, country may consume outside its institutional production possibilities frontier.
Explanation:
Production possibility frontier plays a crucial role in economics. It is the point at which a country’s economy is most efficiently producing its various goods and services and, therefore, allocating its resources in the best way possible.
The answer is when global demand for exclusive and private-label footwear is so far under global plant volume that it will be intolerable for most all companies to cost-effectively operate their plants at full volume for many years to come. If the prediction shows that global demand is far under global volume, then it isn't conceivable for everyone to sell everything. In this circumstance the most liquid and solvent company will appear ahead, maybe a company could hold onto volume and ferociously hold onto market share.
Answer:
The answer is: setting product prices high enough for the company to be profitable.
Explanation:
Production cost refers to the <u>cost that a company has incurred from the moment it manufactured its product, towards the delivery until it provided the product or service to the customers. </u>Part of this cost are the taxes that are imposed on the product or service.
So, in order to control costs, the production cost report is being used by managers in order to set product prices high enough for the company to be profitable.
or example, if the production cost is higher than the sale price of a product, then the company could either l<u>ower their production cost or set their product prices high enough in order to be profitable.</u> If they cannot do both, then they could stop producing the product or service.
