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3 years ago

What is meant by a progressive tax?

Business

1 answer:

natita [175]3 years ago

3 0

Answer:

Progressive tax—A tax that takes a larger percentage of income from high-income groups than from low-income groups.

Regressive tax—A tax that takes a larger percentage of income from low-income groups than from high-income groups

A proportional tax is an income tax system where the same percentage of tax is levied on all taxpayers, regardless of their income.

Explanation:

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Botosan Factory has budgeted factory overhead for the year at $717,474, and budgeted direct labor hours for the year are 364,200

Mila [183]

Answer:

$652,858

Explanation:

Predetermined overhead rate = Budgeted Overheads ÷ Budgeted Activity

= $717,474 ÷ 364,200

= $1.97 per direct labor hour

Allocated overheads = Predetermined overhead rate x Actual Activity

= $1.97 x 331,400 direct labor hours

= $652,858

therefore,

The overhead allocated for May is $652,858.

6 0

3 years ago

On December 31 of the current year, Pilozzi Company has the following information available:

Aleksandr [31]

Answer:

On December 31 of the current year, can the Board of Directors declare and pay a cash dividend of $ 2 million

If the company don´'t have enough cash on hand to distribute the previously announced sum to shareholders, it may have to borrow funds to honor the dividend payment.

Explanation:

Companies can pay dividends in cash or additional shares.

If the company don´'t have enough cash on hand to distribute the previously announced sum to shareholders, it may have to borrow funds to honor the dividend payment.

6 0

3 years ago

During Heaton Company's first two years of operations, the company reported absorption costing net operating income as follows:

const2013 [10]

The unit product cost under variable costing is computed as follows:

Direct materials $ 4

Direct labor 7

Variable manufacturing overhead 1

Variable costing unit product cost $12

With this figure, the variable costing income statements can be prepared:

Year 1 Year 2

Unit sales 40,000 units 50,000 units

Sales $1,000,000 $1,250,000

Variable expenses:

The variable cost of goods sold

($12 per unit) 480,000 600,000

Variable selling and administrative

expenses ( $2 per unit) 80,000 100,000

Total variable expenses 560,000 700,000

Contribution margin 440,000 550,000

Fixed expenses:

Fixed manufacturing overhead 270,000 270,000

Fixed selling and administrative 130,000 130,000

expenses

Total fixed expenses 400,000 400,000

Net operating income $40,000 $150,000.

An annual record is a record that public organizations must provide annually to shareholders that describes their operations and economic situations. a report that gives unique information approximately what a corporation has completed and how successful it has been.

Learn more about Income statements here:-brainly.com/question/21851842

#SPJ4

7 0

1 year ago

Jen's Fashions is growing quickly. Dividends are expected to grow at a 19 percent rate for the next 3 years, with the growth rat

Sedaia [141]

Answer:

Ans. Current Share Price=$33.85

Explanation:

Hi, we first have to establish the dividend for the first 3 years and the dividend when the growth rate falls off to a constant rate of 8% with the formula to find the present value of a perpetuity with constant growth rate. From there, we need to bring all the above cash flows to present value and that is the price of the share. The formula is as follows.

$Price=\frac{D1}{(1+r)^{1}}+\frac{D2}{(1+r)^{2} } +\frac{D3}{(1+r)^{3} } +\frac{D3(1+g)}{(r-g)} \frac{1}{(1+r)^{3} }$

To find D1, D2,and D3, we have to do this.

D1=Do(1+0.19)

D2=D1(1+0.19)

D3=D2(1+0.19)

Since 0.19 is the growth rate for 3 years. Everything should look like this

$Price=\frac{4.04}{(1+0.12)^{1}}+\frac{4.29}{(1+0.12)^{2} } +\frac{25.52}{(1+0.12)^{3} } +\frac{25.52(1-0.08)}{(0.12+0.08)} \frac{1}{(1+0.12)^{3} } =33.85$

notice that the sign of the last part do not coincide with the formula, that is because the growth rate from the first 3 years is -8%.

Best of luck.

7 0

3 years ago

Please help me!!!!!

brilliants [131]

Answer:

can't read could you do a close up one

Explanation:

4 0

3 years ago