It should be noted that costs and benefits that always differ between alternatives are relevant costs and benefits.
<h3>What is Relevant cost?</h3>
Relevant cost can be described as managerial avoidable costs that are incurred only when making specific business decisions.
The relevant cost is can be used to eliminate unnecessary data when making decision.
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Answer:
B. people with high incomes
Explanation:
A progressive tax system imposes high tax rates to high-income earners. In a progressive tax system, the applicable tax rates are based on income level. The higher the income, the higher the tax rate.
Low-income earners will be taxed at a lower rate, hence only a small proposition will be used for taxes. High-income earners will be taxed using a higher tax rate, meaning a bigger proposition of their income will be spent on taxes.
Answer:
a. The journal entry for recording the purchase of the new carpet would be as follows:
April 30 Debit Credit
Carpet $18,000
Cash $18,000
b. The journal entry would be as follows:
December 31 Debit Credit
Depreciation expense - carpet $800
Accumulated depreciation- carpet $800
Explanation:
a. The journal entry for recording the purchase of the new carpet would be as follows:
April 30 Debit Credit
Carpet $18,000
Cash $18,000
b. According to the given data, the carpet is estimated to have a 15-year useful life and no residual value, therefore the December 31 adjusting entry for the partial-year depreciation expense for the carpet would be to debit Depreciation expense - carpet for $800 and to credit Accumulated depreciation- carpet for $800.
The journal entry would be as follows:
December 31 Debit Credit
Depreciation expense - carpet $800
Accumulated depreciation- carpet $800
Answer:
$21,420
Explanation:
The total expense in year 1 was $21000
the inflation rate is 2 percent. it means prices will increase by 2 percent.
The amount to be spent in year 2 will be more by 2% than year 1
If year expenses are 100%, year 2 expenses will be 102%
Actual year 2 expense will be 102% of $21,000
=102/100 x $21,000
=1.02 x $21,000
=$21,420
Answer:
the difference between operating incomes under absorption costing and variable costing is $180,000 .
Explanation:
The difference between the two Operating Incomes lies in the amount of Fixed Overheads that has been deferred in Inventory.
So, calculation of the difference will be as follows :
Beginning fixed manufacturing overhead in inventory $230,000
Less Ending fixed manufacturing overhead in inventory ($50,000)
Difference between absorption costing and variable costing $180,000