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3 years ago

Describe one specific way that taxes impact businesses. Describe another way that taxes impact individuals.

Business

1 answer:

adelina 88 [10]3 years ago

7 0

Answer:

By influencing incentives, taxes can affect both supply and demand factors. Reducing marginal tax rates on wages and salaries, for example, can induce people to work more. Expanding the earned income tax credit can bring more low-skilled workers into the labor force.

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The three major types of economic systems are ________.

sladkih [1.3K]

If i right food water and air

3 0

3 years ago

Baab Corporation is a manufacturing firm that uses job-order costing. The company's inventory balances were as follows at the be

Dominik [7]

Answer:

Baab Corporation

a. Schedule of cost of goods manufactured:

Beginning work in process $ 27,850

Direct raw materials 280,150

Direct labor 377,850

Manufacturing overhead 297,279

Ending work in process ($ 9,850)

Cost of goods manufactured $973,279

b. The overhead was underapplied (by $9,121).

Explanation:

a) Data and Calculations:

Beginning Ending

Raw materials $ 14,850 $ 22,850

Work in process $ 27,850 $ 9,850

Finished Goods $ 62,850 $ 77,850

Estimated machine hours = 33,850

Manufacturing overhead cost = $294,495

Predetermined overhead rate = $294,495/33,850 = $8.70 per mh

Raw materials purchase $315,850

Raw materials used for production $307,850

Direct raw materials $280,150

Indirect raw materials $27,700

Direct labor$377,850

Indirect labor, $96,850

Administrative salaries, $172,850

Selling costs, $147,850

Factory utility costs, $10,850

Depreciation:

Factory Depreciation $171,000

Selling, general, and admin. $7,000

Total for the year was $178,000

Actual level of activity for the year = 34,170 machine hours

Sales for the year = $1,315,000

Manufacturing Overhead:

Indirect raw materials $27,700

Indirect labor, 96,850

Factory utility costs, 10,850

Factory Depreciation 171,000

Total overhead incurred $306,400

Overhead applied 297,279

Underapplied overhead $9,121

5 0

3 years ago

Shaun is a student who has received an academic scholarship to State University. The scholarship paid $14,000 for tuition, $2,50

Soloha48 [4]

Answer:

$ 8500 paid by the university

Explanation:

The dormitory fees are recorded as part of his gross income because it is a payments given to his services rendered which was counseling freshman on campus living. The dormitory fees gotten can be taxed for this reason unlike the scholarships received for tuition, fees, books can be excluded from gross income as they are required for the student courses.

8 0

3 years ago

You decide that you need more information on how employees feel about diversity, so you create a paper and pencil survey on empl

fgiga [73]

Answer:

Discrimination against women and other minorities

Explanation:

The most likely ground for concern would be Discrimination against women and other minorities.

Diversity in the workplace means that an organization employs a diverse team of persons that reflects the views of the society in which it exists and operates. Through diversity and inclusion, no employee is treated unfairly on account of their gender, race, ethnicity.

Discrimination in labor markets, occurs when workers who have the same skill levels by education, experience, and expertise receive different pay because of their race or gender.

4 0

3 years ago

The City of Grand Rapids installed a new water main on Oak Street. The city then decided to charge the property owners along Oak

Gnoma [55]

Answer:

b) assessment lien.

Explanation:

In this scenario, The City of Grand Rapids installed a new water main on Oak Street. The city then decided to charge the property owners along Oak Street a proportional cost of the new water main. If a property owner refuses to pay their proportional share of the cost, the city may file assessment lien.

Assessment lien can be defined as a hold or a legal claim on a property being owed by another, while benefiting from an improvement or modification made and shall be deducted from the client for the improvements made by a municipal owner.

3 0

3 years ago