Tell me about a time you were able to understand someone else's viewpoint that differed from your own. Describe the situation, y
1 answer:
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Answer:
b. $23,350
Explanation:
The computation of final balance in fatal work-in-process inventory is presented with the help of spreadsheet as attached below:-
The formula is presented below:-
Amount of Over-allocated Overheads = Percentage of overhead applied × Over-allocated Overheads
Account Balance after = Account Balance before - Amount of Over-allocated Overheads
Therefore the correct answer is b. that is $23,350
Answer:
Wealthy's tax bill stand reduced by $168,000
Explanation:
These donations amount for complete deduction.
Income before deduction = $3,000,000
Tax rate = 42%
Therefore tax before deduction = $3,000,000 42% = $1,260,000
Since the donation is completely deductible:
Income after deduction = $3,000,000 - $400,000 = $2,600,000
Tax thereon:
$2,600,000 42% = $1,092,000
Reduction in tax paid = Tax paid without donation - Tax paid after donation
= $1,260,000 - $1,092,000 = $168,000