Answer:
<em>C. $11,000</em>
Explanation:
Logan have to pay $16,500 as taxes in military Gear Inc is a C corporation because ($75,000 x 22%). If it is S corporation then he have to pay $3750 as taxes (($75000 - $25000) x 22%).
So from above calculation he has to pay $11,000 more ($11250 - $3750).
The elasticity of supply can be calculated using the formula:
Elasticity = [(Q2 – Q1) / ((Q2 + Q1) / 2)] / [(P2 – P1) /
((P2 + P1) / 2)]
or in simpler terms: Elasticity =(ΔQ / Qave) / (ΔP / Pave)
Where Q and P are the quantity and price respectively
We are given that:
<span>P1 = $2.5 Q1
= 1,800 tons</span>
<span>P2 = $2 Q2
= 900 tons</span>
Substituting the given values into the equation:
Elasticity = [(900 – 1800) / ((900 + 1800) / 2)] / [(2 – 2.5)
/ ((2 + 2.5) / 2)]
Elasticity = (-900 / 1350) / (-0.5 / 2.25)
Elasticity = 3.0
<span>Since elasticity is positive, the supply is directly
proportional to the price.</span>
Answer:
16,300 Direct Labor Hours
Explanation:
Evening Star Inc. produces two models.
The field model requires eight(8) direct-labor hours.
The professional binoculars require ten(10) direct-labor hours.
In May,
Number of field binocular manufactured=850
Number of professional binocular manufactured=950
Therefore:
- Standard Hour for 850 field model = 850 X 8 =6800 Hours
- Standard Hour for 950 professional model = 950 X 10 =9500 Hours
Total Standard Hours allowed in May = 6800+9500
=16300 Direct Labor Hours
Answer:
superior competence
Explanation:
Superior competence is a skill an agent is expected to display in a resonable manner in any situation.
An agent is a person appointed by the principal and one who links the principal to the third party while principal is someone who appoints an agent to act on its behalf.
An agent is not superior to the principal. In other words, an agent is expected to act reseanably at all times in accordance with the terms of his contract with the principal.
Some of the duties of an agent to his principal are
- reasonable care and skill
-duty not to delegate
-avoid conflict of interest
-act within the scope of powers and authority delegated to him
Answer:
Our company will recognize the loss on its next statement date.
Explanation:
The exchange rate between two currencies is the rate at which one can be exchanged for the other during trade.
The stronger a currency the less of it will be involved in the exchange, while the weaker the currency the more of it will be required in the exchange.
In this instance the transaction is Euro based. When the payable was incured the rate was $1.2 to €1.
Now the rate has increased to $1,27 per €1. This implies that the company will lose 1.20 - 1.27= -$0.07 per every Euro.
This loss will be recorded on the next statement date.