Answer:
B. $19,687 mil
Explanation:
The statutory tax rate is the percentage imposed by law; the effective tax rate is the percentage of income actually paid by an individual or a company after taking into account tax breaks (including loopholes, deductions, exemptions, credits, and preferential rates).
Now, in our question, statutory tax rate is 35%, but effective tax rate is 15%. This implies, with the help of tax breaks or loopholes, company managed to pay only 15% of its income as taxes.
This 15% of income = $2,953 mil
Hence, pretax income = 2,953/15% = $19,686.67 mil = $19,687 mil
Overhead rate is calculated by dividing the overhead cost by the direct cost over a similar period of measurement. In our case, the basis is per hour. The overhead cost is the rough estimate of the cost made through the proper reference to the historical data for old establishments and projections for the new ones. This can be expressed as,
overhead rate = (overhead cost / direct cost) x 100%
Substituting the known values,
overhead rate = ($75 / $50) x 100%
overhead rate = 150%
<em>ANSWER: overhead rate = 150% </em>
Answer:
$1,264.50
Explanation:
Calculation for the amount of commission Julie must pay.
Using this formula
Commission=Investment amount× Fund charges percentage
Let plug in the formula
Commission= $28,100 × 0.045
Commission= $1,264.50
Therefore the amount of commission Julie must pay is $1,264.50
Current supply and output. Until recent years, Organization of Petroleum Exporting Countries (OPEC) often set supply through a quota system.
