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charle [14.2K]
3 years ago
13

In fiscal 2016, Snap-On Inc. reported a statutory tax rate of 35%, an effective tax rate of 30.5%. Income before income tax for

2016 was $801.4 million. What did Snap-On report as tax expense (on its income statement) in 2016? A. $166.7 million B. $170.0 million C. $244.4 million D. $184.7 million E. None of the above
Business
1 answer:
posledela3 years ago
4 0

Answer:

Snap on the report as the tax expenses will be $244.427

Explanation:

We have given income before tax in 2016 = $801.4 million

Effective rate tax = 30.5 % = 0.305

We have to find the snap on report as tax expense

Tax expenses is given by

Tax expense =income\ before\ tax\times effective\ tax\ rate=801.4\times 0.305=$244.427

So snap on the report as the tax expenses will be $244.427

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3 years ago
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Annette [7]

Answer: a. 1.42

b) 2.74

c) 3.89

Explanation:

a) The Degree of Operating Leverage measures how much operating Income will change by if Sales change.

It is calculated with the formula,

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= (960,000 - 532,000) / (960,000 - 532,000 - 127,000)

= 1.42

b) The Degree of financial leverage measures how much Income will change due to a change in operating Income.

The formula is,

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c. Degree of Total Leverage is a measure of how sensitive the net income of a company is to a change in goods produced and/or sold.

It is calculated by multiplying DOL and DFL.

= 1.42 * 2.74

= 3.89

Should you need any clarification just hit that comment button. Cheers.

3 0
3 years ago
Sunland Company incurs the following costs to produce 11400 units of a subcomponent: Direct materials $9576 Direct labor 12882 V
anygoal [31]

Answer:

$4,392

Explanation:

Sunland Company

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Direct labor $12,882

Variable overhead $14,364

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If Sunland accepts the offer the net income increase (decrease) by $4,392

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A transaction cycle is a set of accounting transaction that happens in a very normal sequence as an example a sales transaction is followed by shipping transaction, a billing transaction, and a cash receipts transaction.

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To know more about transaction cycle here

brainly.com/question/13445906

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3 0
1 year ago
Three people were fired at abc corporation. eugene was fired because he was incompetent. rita was fired because she was unethica
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In the given situation, the systems property illustrated is called equifinality. The case says that there three people were fired at ABC Corporation. Eugene was fired because he was incompetent. Rita was fired because she was unethical. Kayla was fired because of economic conditions. Equifinality in business implies that firms may establish similar competitive advantages based on substantially different competencies. The concept is that there are many paths to the same end. The idea states that there are multiple ways to reach a final goal. In open systems, equifinality states that in open systems a given end state can be reached by many potential means.
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