1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Gre4nikov [31]
2 years ago
5

Hogan Industries had the following inventory transactions occur during 2017: Units Cost/unit Feb. 1, 2017 Purchase 108 $45 Mar.

14, 2017 Purchase 186 $47 May 1, 2017 Purchase 132 $49 The company sold 306 units at $63 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, and operating expenses of $1800, what is the company's after-tax income using LIFO
Business
1 answer:
kirill [66]2 years ago
5 0

Answer: $1,982.40

Explanation:

The company's after-tax income using LIFO will be:

Sales = 306 × $63 = $19,278

Less: Cost of Goods Sold

132 × $49 = $6,468

174 × $47 = $8,178

Coat if goods sold = $14,646

Gross Profit = $19,278 - $14,646 = $4,632

Less: Operating Expense = $1,800

Income Before Tax = $2,832

Less: Tax = 30% × $2832 = $849.60

Income after Tax = $1,982.40

You might be interested in
Overheating of a coil spring type of pressure plate will cause which of the following to happen?
EleoNora [17]

Wearing out of the release levers

3 0
3 years ago
Read 2 more answers
What does the project management office do?
Archy [21]
<span>What does the project management office do?
                                Answer:</span>
<span>A project management office,(PMO)  is a group or department within a business, agency or enterprise that defines and maintains standards for project management within the organization. </span>
4 0
3 years ago
You observe that the inflation rate in the United States is 1.0 percent per year and that T-bills currently yield 1.5 percent an
Vedmedyk [2.9K]

Answer:

a) 4.5%

b) 7.5%

c) 9.5%

Explanation:

Given:

USA Inflation rate = 1.0%

T-bills current yield = 1.5%

a) What do you estimate the inflation rate to be in Australia, if short-term Australian government securities yield 5 percent per year?

To find the inflation rate in Australia, use the formula:

RUS - hUs = RFC - hFC

Where,

RUS = T-bills current yield = 1.5% = 0.015

hUs = USA Inflation rate = 1.0% = 0.01

RFC = short-term yield of Australian government securities = 5% = 0.05

Thus,

RUS - hUs = RFC - hFC

0.015 - 0.010 = 0.05 - hFC

0.005 = 0.05 - hFC

Solve for hFC:

hFC = 0.05 - 0.005

hFC = 0.045 = 4.50%

Inflation rate in Australia = 4.50%

b) What do you estimate the inflation rate to be in Canada, if short-term Canadian government securities yield 8 percent per year?

Use the same formula as in part A.

RUS - hUs = RFC - hFC

Here, RFC = 8% = 0.08

Thus,

0.015 - 0.010 = 0.08 - hFC

0.005 = 0.08 - hFC

Solve for hFC

hFC = 0.08 - 0.005

hFC = 0.075 = 7.50%

Inflation rate in Canada = 7.5%

c) What do you estimate the inflation rate to be in Taiwan, if short-term Taiwanese government securities yield 10 percent per year?

Use the same formula as in part A.

RUS - hUs = RFC - hFC

Here, RFC = 10% = 0.1

Thus,

0.015 - 0.010 = 0.10 - hFC

0.005 = 0.10 - hFC

Solve for hFC

hFC = 0.10 - 0.005

hFC = 0.095 = 9.50%

Inflation rate in Taiwan= 9.5%

8 0
3 years ago
The Equal Employment Opportunity Act requires employers to classify their employees by gender and national origin. Which level o
inysia [295]
B. Ordinal is the Equal Employment Opportunity Act which requires employers to classify their employees by gender and national origin
5 0
3 years ago
A special barrel freezer is then used to gradually freeze the ice cream. The machine also pumps clean air into the mix. This ste
zvonat [6]

Answer:

Hmmmm... Brainly??

Explanation:

Hope this helps!!! lol

3 0
3 years ago
Other questions:
  • When researchers calculate a basketball star's net worth they are measuring the star's _____.
    6·1 answer
  • GPD Corporation has operating income (EBIT) of $300,000, total assets of $1,500,000, and its capital structure consists of 40% d
    6·1 answer
  • Why is it necessary to have a time-phased budget baseline? Select one: a. It allows proper resource allocation b. It reduces sch
    15·1 answer
  • Glasis is a type of paint made specifically for use on cars. An ad in Motor Trend magazine advising consumers to request their a
    5·1 answer
  • In 1945, an African American family tries to purchase a home in a White neighborhood, but realtors and mortgage lenders refused
    12·1 answer
  • lue Box Beach Chairs has the following standards to make beach chairs: Standard Quantity Standard Price Direct materials 2.2 pou
    9·1 answer
  • The ABS company has a capital base of $270 million, an opportunity cost of capital (k) of 19%, a return on assets (ROA) of 9%, a
    8·1 answer
  • A taxpayer's most advantageous tax benefit is A) a tax deduction. B) a depletion allowance. C) a tax credit. D) straight-line de
    9·1 answer
  • What is meant by pie - chart? Discuss the process of its formation??<br>​
    13·1 answer
  • Zeron Incorporated generated $1,349,600 ordinary income from operations this year. It also recognized $29,200 recaptured ordinar
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!