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3 years ago

the cost of goods manufactured for the year was $415,000. the unadjusted cost of goods sold for the year was

Business

1 answer:

aev [14]3 years ago

5 0

Answer:

$403,000

Explanation:

Calculation for what The unadjusted Cost of Goods Sold for the year was:

Finished goods inventory, 1/1 38,000

Add: Cost of goods manufactured 415,000

Goods available for sale 453,000

(38,000+415,000)

Less Finished goods inventory, 12/31 50,000

Unadjusted Cost of goods sold $403,000

(453,000-50,000)

Therefore The unadjusted Cost of Goods Sold for the year was:$403,000

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Selected income statement data follow for Harley Davidson, Inc., for the year ended December 31, 2016 (in thousands): Income bef

Alina [70]

Answer:

D. 35.5

Explanation:

Times Interest Earned

$\frac{EBIT}{Interest \:Expense}$

Where EBIT = Earning before interest and taxes

In your assingment we have the Income before the income taxes, whgich means it is including the interest expense, we need to remove it:

EBT + Interest expense = EBIT

1,023,911 + 29,670 =1,053,581

Now we calculate the TIE

1,053,581 / 29,670 = 35.50997641 = 35.51 = 35.5

The company earns their interest 35.5 times.

6 0

2 years ago

Chuck, a single taxpayer, earns $75,000 in taxable income and $10,000 in interest from an investment in City of Heflin bonds. (U

Andrew [12]

Answer:

Given that,

Taxable income = $75,000

Interest from an investment = $10,000

Using the U.S tax rate schedule in 2017

(a) Federal tax will he owe = $5,226.25 + 25% × ($75,000 - $37,950)

= $5,226.25 + $9262.5

= $14,488.75

(b) $Average\ Tax\ Rate = \frac{Total\ Tax}{Taxable\ Income}$

$Average\ Tax\ Rate = \frac{14,488.75}{75,000}$

= 19.32%.

(c) $Effective\ Tax\ Rate = \frac{Total\ Tax}{Total\ Income}$

$Effective\ Tax\ Rate = \frac{14,488.75}{75,000 + 10,000}$

= 17.05%

(d) Chuck is currently in the 25 percent tax rate bracket.

His marginal tax rate on increases in income up to $16,900 and deductions from income up to $37,050 is 25 percent.

6 0

3 years ago

True or false: Many companies are discontinuing defined-benefit plans and moving toward defined-contribution plans, which shifts

julsineya [31]

Answer:

False

Explanation:

A defined benefit pension plan is a type of pension plan where the employer gives a promise with respect to the particular pension payment that could be lumpsum for the retirement basis

Since in the question it is mentioned that the companies would not continue with the defined benefit plan and they move to the defined-contribution plans that save for the retirement so that it would create the more responsibility over the company due to this they would provide the retirement benefit but this statement is false as it is better to received the lumpsum amount

5 0

3 years ago

Which of the following is not considered a credit?

Serga [27]

Answer:

which of the following is not considered a credit?

overdraft fee

Explanation:

5 0

3 years ago

Pablo management has ten part-time employees, each of whom earns $145 per day. they are normally paid on fridays for work comple

kvv77 [185]

Explanation:

December 31, 2016: To record accrued wages for one day (10 workers × $145) = $1,450.

January 4, 2017: To record accrued and current wages.

Wages expense = 10 workers × 3 days × $145 = $4,350

Cash = 10 workers × 4 days × $145 = $5,800.

See attached photo.

4 0

3 years ago