Answer:
$3.2 million
Explanation:
The revenue and gross profit or loss which the company identify in the first and second year if it recognizes revenue upon contract completion is calculated below.
Total costs = Incurred costs + estimated costs to complete = $8 million + $12 million = $20 million
Revenue to recognize = $8m/$20m*$28m = $11.2 million
Gross Profit = Revenue recognized less costs incurred
= $11.2m - $8m = $3.2 million
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
Embezzlement. He is taking (stealing) asserts that we’re entrusted to him. Bad Bart!
Answer:
Mrs.Smith should continue to operate the business in the short run but shut down in the long run.
Explanation:
According to the shut down rule, at the profit-maximizing positive level of output, a business in a competitive market should continue to operate in the short-term if the price equals to or is greater than the average variable cost, but should shut down in the long term if the price is less than or equal to total cost. Here,
price = $8.10
avg variable cost = $8.00
avg total cost = $8.25
Mrs.Smith should continue to operate the business in the short run but shut down in the long run.
Answer:
A License
Explanation:
Riley obtains permission from Saga Company to use the firm's game app on Riley's smartphone, tablet, and other mobile device. But Riley does not obtain ownership rights in the app. This is a license. When any organization gives its rights to another firm under this type of contract, the ownership rights always remain with the parent company and licensee can't have ownership rights in any way, they can use only the name and products of that parent company to the customers, but ownership held with the parent company. For example, when Burger King and Pizza Hut gives the right to make and sell their products all over the world, the ownership rights are always reserved with the Burger King and Pizza Hut.
