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Leni [432]
3 years ago
14

Deep Water Mining added $411 to retained earnings last year on sales of $24,646. The administrative expenses were $4,370, deprec

iation was $812, dividends paid were $285, and the interest expense was $103. What was the cost of goods sold if the firm’s tax rate was 35 percent? $20,225 $24,385 $18,290 $14,815 $21,393
Business
1 answer:
ki77a [65]3 years ago
5 0

Answer:

$18,290

Explanation:

The computation of the cost of goods sold is given below;

The profit after tax is

= Retained earnings + dividend

= $411 + $285

= $696

The profit before tax = $696 ÷ (1 - Tax rate)

= $696 ÷ (1 - 0.35)

= $1,071  

Now  

Sales = $24,646

Let us assume the Cost of goods sold be X

admin expenses = $4,370

Depreciation = $812

Interest = $103

Profit before tax = $1.071

Cost of goods sold (X) = $24,646  - $4,370 - $812 - $103 - $1,071

= $18,290

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Compared to a country with an MPS of 0.05, a country with an MPS of 0.2 would have to change government expenditures by ________
const2013 [10]

Answer: Four times.

Explanation:

Based on the information given, the government expenditure multiplier in this case goes thus:

K = ∆Y/∆G = 1/1-MPC = 1/MPS

For the first country with a MPS of 0.05, K = 1/MPS = 1/0.05 = 20

For the first country with a MPS of 0.2, K = 1/MPS = 1/0.2 = 5

Therefore, 20/5 = 4.

Therefore, the answer is four times.

8 0
3 years ago
epartments have estimated annual factory overhead costs of $256,000 and $480,000, respectively. The Fabrication Dept. expects 25
Phoenix [80]

Answer:

Factory overhead cost charged to each unit:

                                                     Fabrication     Assembly

Factory overhead rates                  $10.24             $0.81

Machine hours per unit                   5

Direct labor cost per unit                                       $118.40

Factory overhead cost per unit   $51.20             $95.90

Explanation:

a) Data and Calculations:

                                         Fabrication            Assembly

Annual overhead costs  $256,000              $480,000

Expected machine hours   25,000                             0

Expected direct labor costs         0               $592,000

Overhead rates                $10.24                  $0.81

                         ($256,000/25,000)             ($480,000/$592,000)

Assuming number of units produced = 5,000

Each unit will consume   5 (25,000/5,000)   $118.40 ($592,000/5,000)

                                    machine hours           direct labor cost

Overhead cost per unit = $51.20                  $95.90

                                     ($10.24 * 5)               ($118.40 * $0.81)

5 0
3 years ago
Raymond owns an Accidental Death and Dismemberment Policy with a principal sum of $50,000, and a capital sum of $25,000. After o
schepotkina [342]

Answer:

He will get nothing from the Accidental Policy.

Explanation:

  • Raymond owns an Accidental policy but he Dies from Coronary artery disease. according to insurance companies policy, he will get nothing when he is dead by any means other than by accident.
  • Insurance companies have their own regulations and policy.
  • The insurance company is liable to pay for the incident for which the insurance is taken.

6 0
3 years ago
(c) Which of the following statements are true? (You may select more than one answer. Single click the box with the question mar
AysviL [449]

Answer:

Customer and Product Margin under Activity-based Costing and Traditional Costing

True Statements:

1. If a customer orders more frequently, but orders the same total number of units over the course of a year, the customer margin under activity based costing will decrease.

2. If a customer orders more frequently, but orders the same total number of units over the course of a year, the product margin under a traditional costing system will be unaffected.

Explanation:

Customer Margin is the difference between the total revenue generated from a customer minus the acquisition and service costs.   In the above instance, the customer margin decreases because of the costs of servicing the customer's frequent orders.  Customer service costs are usually higher with more frequent orders, when activity-based costing is employed because frequent orders increase the activity level and the associated costs.

Product Margin is the profit margin generated per product.   It is the markup on the cost of the product.  It shows the difference in amount between the selling price and the manufacturing cost.  Frequent orders cannot change the product margin under the traditional costing technique unlike it does with the activity-based costing technique.

6 0
3 years ago
The complement of 35% is:
Lena [83]
<span>100%-35%=65% 

the compliment of 35% is 65%

</span>
6 0
3 years ago
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