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Serhud [2]
3 years ago
9

Felix Mining acquired a copper mine at a total cost of $3,000,000. The mine is expected to produce 6,000,000 tons of copper over

its five-year useful life and have no residual value. During the first year of operations, 750,000 tons of copper was extracted. Depletion for the first year should be:
Business
1 answer:
tiny-mole [99]3 years ago
4 0

Answer:

$375,000

Explanation:

The computation of the depletion expense for the first year is shown below:

= Total cost of a copper mine ÷ expected number of tons produced × extracted tons in the first year

= $3,000,000 ÷ 6,000,000 tons × 750,000 tons

= $375,000

We simply applied the above formula so that the depletion expense could come for the first year

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Sebastian Wayne's filing status is married filing jointly, and he has earned gross pay of $3,940. Each period he makes a 401(k)
Artist 52 [7]

Answer:

Social Security Tax = $ 244.28

Medicare tax = $ 57.13

Explanation:

Social Security Tax: $3,940 x 6.20% = $244.28

Medicare tax: $3,940 x 1.45% = $ 57.13

4 0
4 years ago
Penny is paid a gross wage of $2,648.00 on a monthly basis. She is single and is entitled to 2 withholding allowances. How much
Damm [24]

Answer:

The combined wage bracket tables in Exhibits 9-3 and 9-4 is missing hence I will use 2014 tax year

answer :

a) Federal income tax withheld

 = 75.6 + ( 1989.60 - 944 )*15%  = $232.44

b) social security

 6% * 1989.6 = $119.38

c) Medicare

1.45% * 1989.6 = $28.85

Explanation:

For a single individual

Two withholding allowance = $329.20 * 2  = $658.40

Gross Pay = $2648

withholding allowance = $658.40

Subject to withholding = $2648 - $658.40 = $1989.60

a) Federal income tax withheld

 = 75.6 + ( 1989.60 - 944 )*15%  = $232.44

b) social security

 6% * 1989.6 = $119.38

c) Medicare

1.45% * 1989.6 = $28.85

6 0
3 years ago
Which of the following is a current liability?
Vitek1552 [10]

Answer:

D) None of these answers are correct

Explanation:

None of the answers are correct because the definiton of current liability is a debt or obligation that has to paid off before the fiscal year ends. In other words, current liabilities are by definition short-term obligations, and all the options in the question refer to long-term obligations.

6 0
4 years ago
Which of the following is true?
kifflom [539]

Answer:

the correct option is c) change in the money wage and other resource prices does not shift the long run aggregate supply

Explanation:

First of all aggregate supply can be defined as the sum total of all the goods and services that are supplied in the economy during a defined period of time.

In the given question the option C is right because it is assumed that in the case of long run aggregate supply , the supply curve tends to remain static because any kind of change in the aggregate demand causes only temporary changes in the total output of the economy and the slope of the curve remains vertical. It is also assumed that the economy is being used at optimal as only factors like labor, capital, and technology can bring in aggregate supply.

Options a) and b) can't be true because if the supply curve is gonna shift , it is first going to shift in short run aggregate supply then long run aggregate supply , not the other way around.

6 0
3 years ago
An alliance becomes "strategic" as opposed to just a convenient business arrangement when it serves all of the following strateg
lidiya [134]

Answer:

E) contracts out certain value chain activities that are normally performed in-house to outside vendors.

Explanation:

A strategic alliance usually serves the following purposes:

  • facilitate the achievement of an important business objective
  • helps to build, strengthen, or sustain a core competence or competitive advantage (option A)
  • helps to remedy an important resource deficiency or competitive weakness
  • helps to defend against a competitive threat, or lower a significant risk (option B)
  • increases bargaining power over suppliers or buyers (option C)
  • helps to open new market opportunities (option D)
  • speeds the development of new technologies and innovations

8 0
3 years ago
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