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serg [7]
3 years ago
10

You are returning from a european vacation and decide to buy some chocolates in the duty-free shop at the london airport. what d

oes “duty free” mean?
Business
2 answers:
Cerrena [4.2K]3 years ago
8 0
Duty are taxes that are paid on imported goods.
Duty free means that you do not have to pay import duty on that particular item you buy.
mixas84 [53]3 years ago
6 0

Answer:

The correct answer is that <em>''duty free'' </em>means that <em>the goods are exempt from taxes and duties</em> at national and local levels.

Explanation:

<em>Duty-free shop</em> is the name given to the store that is usually found inside an international zone in an international airport and whose main characteristic is in that the products of the store are <em>exempt from the payment of both national and local taxes and duties as well</em>, under the condition and logic that the buyers will take the goods out of the jurisdiction of the country and therefore they might pay the taxes in other country or might not. In addition, those goods are exempt from taxes but they tend to be more expensive than regular goods outside the airport.  

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Metzler Communications designs and programs a website for a local business. Metzler charges $33,000 for the project, and the loc
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Answer and Explanation:

1. The Journal entry is shown below:-

Notes receivable Dr, $33,000

        To Sales revenue $33,000

(Being sales is recorded)

2. The computation of interest is shown below:-

Interest = $33,000 × 4% × 6 ÷ 12

= $660

3. The Journal entry is shown below:-

Cash Dr, $33,660

       To Interest income $660

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(Being collection of notes receivable is recorded)

3 0
3 years ago
Sweet Tooth Candy Company budgeted the following costs for anticipated production for August:
lidiya [134]

Answer:

Fixed costs= $73,760

Variable cost= $159,430

Explanation:

<u>First, let's separate the factory overhead costs:</u>

<u></u>

Power and light 40,450

Factory insurance 23,560

Production supervisor wages 118,980

Production control wages 30,930

Factory depreciation 19,270

<u>Now, the fixed and variable costs:</u>

Fixed costs= Factory insurance 23,560  + Production control wages 30,930 + Factory depreciation 19,270

Fixed costs= $73,760

Variable cost= Power and light 40,450 + Production supervisor wages 118,980

Variable cost= $159,430

6 0
2 years ago
Xminus−Industries manufactures 3minus−D printers. For each​ unit, $ 3 comma 200$3,200 of direct material is used and there is $
madreJ [45]

Answer:

Profit= $106,682.52

Explanation:

Giving the following information:

Unitary Variable costs:

Direct material= 3,200

Direct labor= $2,300 ($15 per hour)= 153.33 hours

Manufacturing overhead is applied at $18 per direct labor hour.

Units sold= 42

Selling price= $10,800

Profit= Total sales - total variable cost

Profit= 42*10,800 - (3,200 + 2300 + 18*153.33)*42= $106,682.52

3 0
3 years ago
Bradley snapp has deposited $7,000 in a guaranteed investment account with a promised rate of 6% compounded annually. he plans t
allsm [11]
P = $7,000, principal
r = 6% = 0.06, rate
n = 1, compounding interval
t = 4 years

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A = 7000*(1 + 0.06)⁴
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Answer: d. $8,837.34
5 0
3 years ago
North Company has completed all of its operating budgets. The sales budget for the year shows 50,220 units and total sales of $2
Dmitriy789 [7]

Answer:

The income taxes figure of $203,000 is missing from the information  provided:

The net income from the  budgeted income statement is $466,520

Explanation:

The multiple step income statement differentiates operating revenue from  non-operating revenue,operating expenses from one off non-operating expenses as operating gains and losses from  non-operating ones

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Total sales revenue                                   $2,190,100

Variable costs of sale($24*50,220)          ($1,205,280)

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Selling and administrative expenses         ($305,300)

Profit before interest & taxes                      $678,940

Interest expense                                           ($10,000)

Income taxes                                                 ($203,000)

Net income                                                     $466,520

5 0
3 years ago
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