1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lesya692 [45]
3 years ago
6

The accountant at Metlock, Inc. is figuring out the difference in income taxes the company will pay depending on the choice of e

ither FIFO or LIFO as an inventory costing method. The tax rate is 30% and the FIFO method will result in income before taxes of $15730. The LIFO method will result in income before taxes of $14600. What is the difference in tax that would be paid between the two methods?
Business
1 answer:
Lisa [10]3 years ago
6 0

Answer:

$339

Explanation:

Computation of the given data are as follows:

Income before tax in FIFO = $15,730

Tax rate = 30%

So, the Tax amount for FIFO = $15,730 × 30%

= $4,719

And, Income before tax in LIFO = $14,600

Tax rate = 30%

So, the Tax amount for LIFO = $14,600 × 30%

= $4,380

So, the difference in tax amount = Tax amount for FIFO  - Tax amount for LIFO

= $4,719 - $4,380

= $339

You might be interested in
You are a consulting firm intern and your job is to help a client choose investment projects. Your client, RealEstate, is a youn
steposvetlana [31]

Answer:

(f)None

Explanation:

Pay back period is the no of years in which cost of investment is recovered in the form of cash flow.

Project with cash back period of two years is acceptable .

Project 1

initial outlay of fund = 100 million dollar

cash flow in first two years = 50+50 = 100 million dollar

so it is acceptable because it recovers the project cost in first two years .

Project 2

initial outlay of fund = 80 million dollar

cash flow in first two years = 40+45 = 95

so it is acceptable because it recovers the project cost in first two years .

Project 3

initial outlay of fund = 70 million dollar

cash flow in first two years = 30+40 = 70

so it is acceptable because it recovers the project cost in first two years .

Project 4

initial outlay of fund = 60 million dollar

cash flow in first two years = 30+40 = 70

so it is acceptable because it recovers the project cost in first two years .

Project 5

initial outlay of fund = 50 million dollar

cash flow in first two years = 30+25 = 55

so it is acceptable because it recovers the project cost in first two years .

So none will be rejected

8 0
3 years ago
A market research study of soft drink consumption and distribution in Hungary commissioned by an American company indicated that
Nutka1998 [239]

Answer:

comparability of data

Explanation:

Comparability of information is one attribute used only to characterize the consistency of descriptive statistics. For two factors the principle of comparability of data is especially critical to a Triad.

Secondly, the Constellation demonstrates shared data sets. Through nature, the shared data sets include information from different analytical techniques. The degree of comparability among two separate sequencing / technical methods affects the way in which sets of data can be jointly compiled, analyzed and used to help strategic thinking.

7 0
3 years ago
A Methods and Measurements Analyst needs to develop a time standard for a certain task. The task involves use of a ruler, square
Alexxx [7]

Find the answer in attachment

4 0
3 years ago
True or false: being an actor is required for a director's complete training.
gayaneshka [121]
False. 

In theatre, a director's role and training is independent and separate from that of an actor. The two roles are distinct and do not require participation as the other in order to complete each. A director's training will be complete through activity other than working or being an actor in a production. 
4 0
3 years ago
What happens after the irs accepts your tax return?.
Mandarinka [93]

Answer:

First, they "stamp" the return with an electronic postmark, and then they will send it to the government.

Then you both wait 24 to 48 hours for the IRS to accept your return.

What are they doing? They are checking your personal information to make sure it matches their records.

If everything looks good, the IRS accepts your return.

Hope this helps..

4 0
3 years ago
Other questions:
  • Which statement best explains how manufacturers contributed to the economic slowdown that led to the Great Depression? a They we
    10·1 answer
  • Adjust the separate financial statements of Parent Inc. to reflect the proposed acquisition. Adjust Parent's pro forma 2019 fina
    14·1 answer
  • Select the correct text in the passage. Which sentence describes a cooperative organization? Cohen and his friends work in a coo
    14·1 answer
  • Carl is unemployed because he was laid off from his construction job when the housing market crashed. this is an example of fric
    7·1 answer
  • Mauve inc. purchased a global data collection and management system that provides detailed information about each of its custome
    8·1 answer
  • What is an advertising allowance
    6·1 answer
  • A person who is a good employee of a multinational company means that he is fit to be an entrepreneur. TRUE or FALSE
    14·1 answer
  • What is equilibrium in econ
    7·1 answer
  • A deductible requires a person with an insurance policy to:
    5·1 answer
  • ________ appeals help consumers make purchase decisions by offering factual information that encourages consumers to evaluate th
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!