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3 years ago

Scenario:

2 answers:

6 0

The correct option is B.
A tariff is define as the tax which is levied on imported goods in order to make them more expensive. Government usually levy tariff on imported goods in order to make them more expensive than the goods that are produce locally. This is done in order to encourage consumers to buy more of locally made goods than imported goods. Buying more of locally made goods improves the local industries and improve the country's GDP.

Thepotemich [5.8K]3 years ago

4 0

Based on the information provided, the type of tax that Country Q has implemented is B. a tariff.

A tariff is defined as a tax or duty to be paid on an import or export. Since the government has implemented a new tax on goods that are being imported, they have created a tariff on those items. Now that there is a tariff in place, the government will collect more money on the taxable items coming into the country.

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Indiana Co. began a construction project in 2021 with a contract price of $163 million to be received when the project is comple

iragen [17]

Answer: Recognized $12.68 million gross profit on the project in 2022

Explanation:

Firstly we would need to ascertain the percentage of completion in 2022. We will do this by using the costs.

The cost incurred till date is,

= $32 million (incurred in 2021) + $59 million (incurred in 2022)

= $91 million. (1)

A further $37 million is estimated to remain in costs by project completion so the total cost would be,

= $91 million + 37 million

= $128 million is the total cost to be incurred. (2)

Dividing (1) by (2) to find out how much costs have been incurred vs how much is life we have,

= 91 / 128

= 0.7109

= 71 %

71 % of the project has been completed.

We will now find out the revenue for that very year using the percentage of the project completed.

The Total Revenue is $163 million so we will take 71% of that,

= 0.71(163)

= $115.73 million can be recognized as revenue TILL DATE. (3)

To find out the Revenue for the year then we can deduct the revenue of the previous year from the Revenue till date to find out the revenue for 2022.

But first we need to find the revenue of 2021 using the same method we used to calculate the Revenue this far

= 32 million / (32 + 86 million) * 163 million

= $44.01 million in revenue in 2021 (4)

Subtracting (4) from (3) to get the revenue for 2022 we have,

= 115.73 - 44.01

= $71.72 million is therefore the revenue for the year 2022

Calculating the gross profit for the year 2022 then we can subtract the cost in 2022 from the revenue for 2022.

= 71.72 million - 59 million

= $12.72 million

The answer we got is off by $0.04 from option C so we will pick Option C as the correct answer with the discrepancy going down to rounding off errors in the Intermediate Calculation.

8 0

3 years ago

MC Qu. 112 A company is considering... A company is considering the purchase of new equipment for $105,000. The projected annual

Alina [70]

Answer:

Net Present Value = $660.98

Explanation:

The Net present value (NPV) is the difference between the Present value (PV) of cash inflows and the PV of cash outflows. A positive NPV implies a good and profitable investment project and a negative figure implies the opposite.

NPV of an investment:

NPV = PV of Cash inflows - PV of cash outflow

PV of cash inflow = A× (1- (1+r)^(-n))/r

A- annul cash inflow, r- 8%, n- 3

PV of cash inflow= 41,000× (1- 1.08^(-3))/0.08

= 105,660.98

Initial cost = 105,000

NPV = 105,660.98 - 105,000

= $ 660.98

3 0

3 years ago

Tracie, working at a research facility in washington

grandymaker [24]

Although Juan has perfect command of English, they are still facing a "physical" barrier to communication.

Physical barrier refers to the environmental and characteristic condition that go about as a boundary in correspondence in sending message from sender to collector. Authoritative condition or inside workspace plan issues, innovative issues and commotion are the parts of physical hindrances.

Unsettling influence in hearing because of roars, phone call detachment, issues in TV gathering, message not being sent in visit, and so on are a few instances of physical barriers of communication.

8 0

4 years ago

Product costs are manufacturing costs (all costs required to produce something). Depending on the state of production, product c

AlekseyPX

Answer:

The answer of each requirement is given below.

If they are "costs" why are they recorded in asset accounts and not expense accounts?

These cost are future expense. As per accounting rules expense is recorded against any purchase when benifit from it is taken, The benifit from stock is taken when it is sold. So RM, WIP and FG are cost accounted as asset as they are still in pipeline and is to be sold in future.

2) Do these product costs ever become an expense to the company?

Yes, these cost become expenses when final goods are sold. Untill sale they are company asset, as asset is something from which future economic benifit is to taken or derived.

5 0

3 years ago

prockets Inc. just eliminated a product that had yearly sales of $120,000, yearly variable expenses of $48,000, and yearly fixed

Serhud [2]

Answer:

Savings in fixed costs= 30,800

Explanation:

Giving the following information:

Prockets Inc. just eliminated a product that had yearly sales of $120,000, yearly variable expenses of $48,000, and yearly fixed expenses of $92,000. By dropping the product, Sprockets increased its company-wide yearly net income by $10,800.

Loss= 120,000 - 48,000 - 92,000= -20,000

By dropping the product:

Savings in fixed costs= 20,000 + 10,800= 30,800

3 0

4 years ago