Answer: <em>Amount of budgeted income tax expense = $10,668</em>
Explanation:
Given:
Sales = $118,800
COGS = $48,500
Depreciation expense = $1,500
Interest expense = $250
Other expenses = $41,880
We'll compute the amount of budgeted income tax expense using the following formula:
Amount of budgeted income tax expense = 40% of (Sales - COGS - Depreciation expense - Interest expense - Other expenses)
= $118,800 - $48,500 - $1,500 - $250 - $41,880
= 40% x $26,670
= $10,668
Although they become part of a larger product, "component parts" can often be easily identified and distinguished on the larger product.
<h3>
What is component parts?</h3>
They are goods that are bought and then immediately added to the finished product. Contrarily, processed materials need more processing before being used in the final product.
Some key features of component parts are-
- Component parts are used extensively by numerous industries, such as the auto industry.
- Spark plugs, sunroofs, windshields, and batteries are examples of component parts used by automakers.
- Additionally, they use a variety of processed materials, such as steel and upholstery fabric.
- Component part and processed material buyers have clear requirements for what they need.
- They may request bids from other businesses or they may collaborate directly with a company to design the parts or materials they need.
- In any instance, ongoing personal contact with the purchasers is necessary to be in a place to secure the business.
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Answer:
A) reclassifying period costs as product costs, means that the company will be able to move some of some costs forward in inventories that would have been recorded as current expenses. With current expenses reduced, the company and
will
Examples of period costs are
- Rent
- Office depreciation
- Office supplies, and
- Utilities
Gallanta actions are unethical. They amount to falsification of accounts and misrepresentation of facts both of which are illegal.
Cheers!
The monopolist decision process involves a three-step process:1. The monopolist will select a quantity which maximizes profit.2. The monopolist will decide on what price he would charged.3. The monopolist will determine the total cost, total revenue, and profit.