1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Olin [163]
3 years ago
6

Under the uniform capitalization rules applicable to taxpayers with property acquired for resale, which of the following costs s

hould be capitalized with respect to inventory if no exceptions have been met? Repackaging costsOff-site storage costsa. Yes Yes b. Yes No c. No Yes d. No No
Business
1 answer:
pashok25 [27]3 years ago
6 0

Answer:

The correct answer is A

Explanation:

As per the UNICAP (stands for Uniform Capitalization) rules, the person have to capitalize the cost for creating the assets, which means or defines as to capitalize the raw materials, labor cost and other indirect as well as direct costs that is attributable to the production of the assets.

So, the costs which is to be capitalized in respect to inventory are the repacking cost, which is involved in the indirect supplies and other materials and the off site storage cost is involves in the rental of the facilities and equipment.

You might be interested in
Vaughn Manufacturing has estimated that total depreciation expense for the year ending December 31, 2021 will amount to $591000,
natali 33 [55]

Answer:

$915,000

Explanation:

Because half of the depreciation expense, and the expense on bonuses has already been reported by June 30,2021 (the half of the year), only hafl of the total money spent on the two items will have to be reported for the interim income statement ended on December 31, 2021:

$591,000 / 2 = $295,500

$1,240,000 / 2 = $620,000

Now, we simply add up these two figures:

$295,500 + $620,000 = $915,000

5 0
3 years ago
"Gamboa, Inc. sold 100 selfie sticks for $25 each. If the selfie sticks had an average cost of $1 to produce, how much profit di
IRISSAK [1]

Answer:

$2400

Explanation:

Average cost is the ratio of total cost of production to the total number of units produced, it is the sum of both the average fixed cost and the average variable cost. The average cost is given by the formula:

Average cost = Total cost / number of units.

Given that:

The total number of units produced = 100 selfie sticks, Average cost = $1 and Price of each selfie stick = $25

From Average cost = Total cost / number of units.

Substituting gibes:

$1 = Total cost / 100 selfie stick

Total cost = $1 × 100 = $100

Total cost = $100

Revenue = Price per item × Number of items

Revenue = $25 × 100 = $2500

Profit = Revenue - Total cost

Profit = $2500 - $100 = $2400

Total cost = $2400

5 0
3 years ago
Brandon's wallet slips from his jacket pocket in the mall. By the time he realizes his wallet is missing and reports the loss, a
VikaD [51]

Answer:

$950

Explanation:

Since the total amount of items purchased by the thief is $950, then Brandon has to pay back the amount deducted from his card.

4 0
3 years ago
unless u.s. legislatures give courts and prison administrators more leeway to interchange prison sentences with community senten
Bas_tet [7]

Unless u.s. legislatures give courts and prison administrators more leeway to interchange prison sentences with community sentences, states will continue to find themselves in economic crises as they attempt to provide for the 33% of the inmate population projected to be elderly by the year 2030.

<h3>What is an economic crisis in your own words?</h3>
  • The term "economic crisis" refers to a situation where a country's economy has a sudden decline in strength, typically caused by a financial crisis. The current economic situation could manifest as stagflation, a recession, or an economic depression.
  • Asset values endure a sharp decrease in value during a financial crisis, firms and individuals cannot pay their loans, and financial institutions face a liquidity shortage.
  • An economic crisis occurs when a country has a sudden decline as a result of a financial crisis, whereas a financial crisis is a situation in which the values of financial assets in an economy collapse rapidly.
  • A debt crisis can result in significant losses for domestic and foreign banks, potentially jeopardizing the viability of financial systems both in the crisis-hit nation and beyond. This may hinder economic expansion and wreak havoc on international financial markets.

Unless u.s. legislatures give courts and prison administrators more leeway to interchange prison sentences with community sentences, states will continue to find themselves in economic crises as they attempt to provide for the 33% of the inmate population projected to be elderly by the year 2030.

To learn more about economic crises, refer to:

brainly.com/question/307213

#SPJ4

7 0
2 years ago
Which organization provides the three guidelines that marketers should use for conducting marketing research?
Mila [183]
The answer is American Marketing Association. It is an expert relationship for promoting experts with 30,000 individuals starting at 2012. It has 76 proficient sections and 250 university parts over the United States.  I hope the answer will help you. Feel free to ask more in brainly<span>. </span>
3 0
3 years ago
Other questions:
  • What does it mean to say that individuals as a group are net suppliers of funds for financial​ institutions? what do you think t
    10·1 answer
  • Anthony is putting together an employee group to help add new technology to his company's existing products. He is seeking emplo
    13·1 answer
  • Name two different methods for evaluating evidence. compare and contrast these two methods.
    9·1 answer
  • A perfectly competitive firm_______.A. Chooses its price to maximize profits.B. Sets its price to undercut other firms selling s
    10·1 answer
  • Describe the opportunity cost of attending a four-year college (assuming a full-time schedule, living on-campus). Given these op
    6·1 answer
  • A Chapter 7 bankruptcy proceeding is formally commenced by the _____.
    7·1 answer
  • I'm pretty sure I am about to get kicked off of this site;)
    7·2 answers
  • Ronnie operates a lawn care service. on each day, the cost ofmowing the first lawn is $10: the cost of mowing the second lawn is
    8·1 answer
  • Information of Company X:
    15·1 answer
  • f pat and chris each spend half their time on each task then: the outcome will be efficient they will plant more bulbs
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!