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garik1379 [7]
3 years ago
10

For the current year ($ in millions), Funky Freightways had $92 in pretax accounting income. This included warranty expense of $

7 and $20 in depreciation expense. 6 million of warranty costs were incurred, and MACRS depreciation amounted to $43. In the absence of other temporary or permanent differences, what was Funky's income tax payable currently, assuming a tax rate of 40%a) 18.6 Million
b) 24.0 Million
c) 27.2 Million
d) 32.8 Million
Business
1 answer:
sergeinik [125]3 years ago
7 0
D Step by step yessirr
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After conducting a market research study, Magnificent Manufacturing decided to produce a new interior door to complement its ext
Lera25 [3.4K]

Answer:

Operating income= $2,800,000

Explanation:

Giving the following information:

Selling price= $250

Units to be sold= 28,000

Target operating income= 40% of sales

<u> First, we need to calculate the total sales:</u>

<u></u>

Total sales= 250*28,000

Total sales= $7,000,000

<u>Now, the target operating income:</u>

Operating income= 0.4*7,000,000

Operating income= $2,800,000

8 0
3 years ago
In budgeting direct labor hours for the coming year, it is important to a.multiply production in units by the labor wage rate. b
sammy [17]

Answer:

b.multiply production in units by the direct labor hours per unit

Explanation:

In order to calculate the budgeted direct labor hours we simply multiplied the units production with the direct labor per unit

In mathematically,

Budgeted direct labor hours = Production in units × direct labor hours per unit

By considering the units production and direct labor hours per unit we can get the budgeted direct labor hours which are to be considered as a estimated direct labor hours  

7 0
3 years ago
Randall Company manufactures chocolate bars. The following were among Randall's manufacturing costs during the current year: Wag
Savatey [412]

Answer:

$310,000

Explanation:

The direct labor cost is equal to the wages of machine operators i.e $310,000 as it is directly related to the production units

Moreover, the selling and admin personnel is a period cost that includes the major part of selling and admin expenses, therefore, it would not be considered

Plus the direct labor cost comes under the product cost like direct material cost, direct labor cost, etc  

Hence, the direct labor cost is $310,000

8 0
3 years ago
American Builders, Inc. has just completed construction of the Freedom Tower - a 250 floor skyscraper located in California, whi
bezimeni [28]

Question Completion:

Group of answer choices:

a. Due to the possibility of earthquake damage, Gubenator should decline coverage for the Freedom Tower.

b. Given the notoriety of the tower and the likelihood of positive press for providing coverage, Gubenator should insure the Freedom Tower.

c. Gubenator has the financial capacity to issue the policy.

d. Gubenator should insure the Freedom Tower only if it can obtain reinsurance for part of the risk from other insurance companies, since a total loss could be catastrophic to Gubenator.

Answer:

American Builders, Inc (Freedom Tower) and Gubenator Insurance Company

d. Gubenator should insure the Freedom Tower only if it can obtain reinsurance for part of the risk from other insurance companies, since a total loss could be catastrophic to Gubenator.

Explanation:

Option A establishes that the earthquake occurrence is a possibility and not a probability.  That means it cannot be reasonably estimated that an earthquake may occur.  Gubernator exists to insure property against the occurrence of risky events.  It should go ahead and do its business.  And it can spread the risk with other insurance companies through Reinsurance.  Gubernator is not in the business of looking for cheap publicity, so option B is ruled out.  Given that the Freedom Tower will only be one of the many properties insured by Gubernator, we cannot use its current capital to judge its capacity to handle the Freedom Tower; thus ruling out option C.

7 0
3 years ago
In the Shaping Department of Sheridan Company the unit materials cost is $6.00 and the unit conversion cost is $3.00. The depart
yaroslaw [1]

Answer:

$36,450

Explanation:

Calculating cost assigned to ending work in process:

Particulars                                                      Amount

Material (5,400 units*$6)                              $32,400

Conversion cost (5,400*25%*$3)                 <u>$4,050  </u>

Total cost of ending work in process         <u>$36,450</u>

8 0
3 years ago
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