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zimovet [89]
2 years ago
7

As a proportion of domestic output, taxes in the United States: Group of answer choices are higher than in most other industrial

ly advanced countries. are approximately the same as in most other industrially advanced countries. doubled in the 1990s. are lower than in most other industrially advanced countries.
Business
1 answer:
allsm [11]2 years ago
7 0

Answer:

are lower than in most other industrially advanced countries.

Explanation:

When there is a proportion with respect to the domestic output and taxes in the united states so it should be less as compared to the countries that are advanced in the industries field

So as per the given situation, the last option is correct as it mets the current situation

Also the rest of the options should be considered wrong

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The following information pertained to Azur Co. for the year: Price of goods purchased $102,800 Price discounts 10,280 Freight-i
MrRissso [65]

Answer:

$118,220

Explanation:

The Costs of Goods Sold COGS is calculated using the following formula.

COGS = Beginning inventory + purchases - Ending Inventory

For Azur company

Beginning inventory:  30,840

Ending inventory : 20,560

Net purchases equal Net purchase equal to purchases plus freight-in minus discounts  freight-out are administrative expenses, hence do not feature in COGS

Net purchases =$102,800 + $15,420 -$ 10,280

Net purchases =$107,940

COGS = $30,840 +$107,940 -$20560

COGS = $118,220

7 0
2 years ago
It costs​ Homer's Manufacturing to produce baseballs and Homer sells them for a piece. Homer pays a sales commission of​ 5% of s
Nonamiya [84]

Answer:

$105,075

Explanation:

The computation of the operating income is shown below:

Sales (4 × 69,500)                                              $278,000

Less:Variable costs (0.95 × 69,500 + 5% × 278,000)  $79,925

Contribution margin                                                     $198,075

Less: fixed cost (13,000 + 80,000)                      $93,000

Net operating income                                                 $105,075

We simply deduct the variable cost and the fixed cost from the sales to arrive at the net operating income

4 0
3 years ago
Following is partial information for the income statement of Audio Solutions Company under three different inventory costing met
Tamiku [17]

Answer:

The computation is shown below:-

Explanation:

1.                     FIFO    LIFO Average cost  

Cost of goods sold      

Beginning inventory       $11,200      $11,200  $11,200

(400 units ×  $28))                          

purchases                       $16,625    $16,625   $16,625

(475 units × 35)                  

Goods available for use $27,825    $27,825   $27,825  

Ending inventory             $18,025    $15,575    $16,695

(525 units)  

Cost of goods sold          $9,800    $12,250    $11,130  

under ending inventory = 475 × $35 + 50 × $28    

FIFO = $18,025  

LIFO ending inventory 400 × $28 + 125 × $35

= $15,575  

Average cost = $27,825 ÷ $875    

= 31.8      

Ending inventory = 525 × 31.8

= $16,695

2.                                  FIFO            LIFO         Average

Sales

(307 × $50)                $15,350         $15,350    $15,350

Cost of goods sold     $9,800    $12,250    $11,130

Gross Profit                 $5,550           $3,100      $4,220

Expenses                     $1,680           $1,680      $1,680

Net income                  $3,870           $1,420       $2,540

3. FIFO = 3

LIFO = 2

Average = 1

5 0
3 years ago
Sage Hill Inc. Issues $254,000, 10-year, 10% bonds at 97. Prepare the journal entry to record the sale of these bonds on March 1
Mamont248 [21]

To record final annual interest and bond repayment:

2017

Mar 1

Bonds interest expense       $25,400

Bonds payable                      $254,000

          Cash                                                  $279,000

On March 1, 1997, the date of issuance, the entry is:

1997

Mar 1

Cash                                        $254,000

          Bonds payable                                  $254,000

On each March 1 for 10 years, beginning March 1, 1997 (ending March 1, 2017), the entry would be (Remember, calculate interest as Principal x Interest Rate x Time)

Mar 1

Bond Interest Expense ($100,000 x 12% x 1)          $25,400

          Cash                                                                                  $25,400


8 0
3 years ago
Brownley Company has two service departments and two operating (production) departments. The Payroll Department services all thr
Fittoniya [83]

Answer:

d. $29,580.

Explanation:

Note: The data in the question are merged together and they are first sorted and separated as given in the attached file before the question is answered.

Cost individually incurred by Maintenance = $25,500

Share of Payroll Department cost = $20,400 * (15/75) = $4,080

Total Maintenance Cost = $25,500 + $4,080 = $29,580.

Therefore, he total cost of operating the Maintenance Department for the current period is d. $29,580.

Download pdf
7 0
3 years ago
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