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3 years ago

Why do we use trade barriers? What is the purpose?

1 answer:

vladimir1956 [14]3 years ago

4 0

Reasons For Using Trade Barriers. As for protecting domestic producers, some countries use trade barriers is to protect immature domestic producers and industries that cannot effectively compete with foreign products. Trade barriers makes imported goods and products less attractive than locally produced goods.

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You earn $50,000 per year, and paid 10 percent in taxes this year. The government increased the tax rate to 20 percent for next

AleksAgata [21]

Answer:

D. $10,000

Explanation:

The answer is D because as you earn $50,000 every year, and for the next year the tax rate is 20%, 20% of $50,000 is $10,000. Hope it helps!

8 0

3 years ago

Esquire Comic Book Company had income before tax of $1,550,000 in 2021 before considering the following material items: 1. Esqui

olga2289 [7]

Answer:

Esquire Comic Book Company

Income Statement

For the Year Ended December 31, 2021

Operating income $1,550,000

Restructuring costs ($60,000)

Income from continuing operations b/ Taxes $1,490,000

<u>Income tax expense ($372,500)</u>

Income from continuing operations $1,117,500

Discontinued operations:

Operating income $610,000
Loss on disposal ($395,000)
<u>Income tax on discontinued operations ($53,750)</u>

Income from discontinued operations $161,250

<u>Net income $1,278,750</u>

Explanation:

Income from discontinued operations must be reported separately, but any restructuring costs must be included as operational expenses.

3 0

3 years ago

Johnson Company has current year accounts payable of $25,000 and cost of goods sold of $100,000. Compute Johnson Company’s days’

natita [175]

Answer:

the days payable outstanding is 91.25 days

Explanation:

The computation of the days payable outstanding is shown below:

Days' payable outstanding is

= (Accounts Payable ÷ Cost of goods sold) × total number of days in a year

= ($25,000 ÷ $100,00) × 365 days

= 91.25 days

We simply applied the above formula so that the correct value could come

And, the same is to be considered

Hence, the days payable outstanding is 91.25 days

7 0

3 years ago

The following information pertains to Lightning Inc., at the end of December: Credit Sales $ 20,000 Accounts Payable 10,000 Acco

OLEGan [10]

Answer:

Lightning Inc.

Computation of Bad Debts Expense:

7% of $7,500 = $525

21% of $1,600 = 336

46% of $1,300 = 598

Total $1,459

Explanation:

a) Data and Calculations:

Credit Sales $ 20,000

Accounts Payable 10,000

Accounts Receivable 10,400

Allowance for Uncollectible Accounts 400 credit

Cash Sales 20,000

Lightning uses the aging method and estimates it will not collect 7% of accounts receivable not yet due, 21% of receivables up to 30 days past due, and 46% of receivables greater than 30 days past due.

The accounts receivable balance of $10,400 consists of $7,500 not yet due, $1,600 up to 30 days past due, and $1,300 greater than 30 days past due.

Age Analysis of Accounts Receivable balance of $10,400

Not yet due up to 30 days greater than 30

past due days past due

Percentage 7% 21% 46%

Balance $7,500 $1,600 $1,300

Bad debts $525 $336 $598

Bad debts Expense = $1,459

6 0

3 years ago

company manufactures pillows. the operating budget was based on production of pillows, with machine-hours allowed per pillow.

MatroZZZ [7]

a. The budgeted variable overhead is $468,750.

b. The variable overhead spending variance is $38,100 Favorable

c. The variable overhead efficiency variance is $30,000 Favorable

<h3>What is variable overhead?</h3>

Variable overhead is a cost of running a business that varies with operational activity. Variable overheads rise and fall in lockstep with production output. Overheads, such as administrative overhead, are often a set cost.

The variable manufacturing overhead controllable variance reflects how effectively the company stuck to its budget. The difference between the planned fixed overhead at normal capacity and the standard fixed overhead for the actual units produced is the fixed factory overhead volume variance.

a. The budgeted variable overhead for 2017 = Budgeted hours * Variable overhead rate per hour

= (25000*0.75)*$25 = $468,750

b. Variable overhead spending variance = (SR - AR) * AH = ($25 - $23) * 19050 = $38,100 Favorable

c. Variable overhead efficiency variance = (SH - AH) * SR = (27000*0.75 - 19050) * $25 = $30,000 Favorable

Learn more about budget on:

brainly.com/question/8647699

#SPJ1

4 0

1 year ago