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kenny6666 [7]
3 years ago
6

416,000 people each receive an average refund of $3,600, based on an interest rate of 3 percent, what would be the lost annual i

ncome from savings on those refunds
Business
1 answer:
victus00 [196]3 years ago
6 0

Answer:

$44,928,000

Explanation:

The fact that 416,000 received a refund of $3,600 each means that the tax authority would lose the interest income that could have been generated on the total refund amount based on a 3% interest rate of return.

Lost annual income=number of people who got refund*average refund per person*interest rate of return

number of people who got refund=416000

average refund per person=$3,600

the interest rate of return=3%

Lost annual income=416,000*$3,600*3%

Lost annual income=$44,928,000  

You might be interested in
Mich Inc., a hardware store, has a rating system in place that rates employees on their friendliness, usefulness, and product kn
makvit [3.9K]

Answer:

Customer-focused compensation strategy

Explanation:

Customer-focused compensation strategy is the rating system where the employees are rated based on the way customers are being serviced. In this scenario, Mich Inc. is rating its employees on their friendliness, usefulness, and product knowledge, so the compensation strategy followed by Mich is closely described as a customer-focused strategy.

7 0
3 years ago
With the __________ inventory control system, producers hold only the amount of materials and parts that they need for a short p
Artist 52 [7]

Answer: (C) Just-in-time (JIT)

Explanation:

The just-in-time is one of the type of inventory system that reduced the overall amount of the inventory goods and the services that is owed by the manufacturer in the business.

It is also known as JIT inventory system and the main aim of this type of system is to increase the efficiency of the products and the services in an organization and reducing the wastage in the production process.

According to the question, the just-in-time inventory control system creating the production for the short time period and for the few hours also ans they reduce overall inventory cost in the system.  

 Therefore, Option (C) is correct.  

5 0
3 years ago
Pheasant Co. can further process Product B to produce Product C. Product B is currently selling for $30 per pound and costs $28
Gnom [1K]

Answer:

differential cost of producing product C = $24 per pound

Explanation:

given data

B  currently selling = $30 per pound

produce cost = $28 per pound

C would sell =  $60 per pound

produce additional cost = $24 per pound

to find out

What is the differential cost of producing Product C

solution

we get differential cost of producing product C is express as

differential cost of producing product C = cost of (B+C) - cost of B   .............1

put here value we get

differential cost of producing product C =  (28+24) - 28

differential cost of producing product C = $24 per pound

3 0
3 years ago
Which product is an example of a consumer good?
Amanda [17]

The correct alternative is the letter D. Gallon of milk to use in a bowl of cereal, this being the product that is an example of a consumer good.

<h3 /><h3>What is a consumer good?</h3>

Corresponds to a product used by the final consumer, that is, individuals or families for the immediate satisfaction of a need, such as food, personal hygiene and cleaning products.

Therefore, an individual's income will always have a part destined for consumer goods, which are essential for their health and quality of life.

Find out more about consumer good here:

brainly.com/question/19342635

#SPJ1

8 0
1 year ago
Carlita began 2014 with a taxes payable account balance of $3,000. On December 31, 2014, its taxes payable account balance is $7
aleksandr82 [10.1K]

Answer:

$2,000

Explanation:

The computation of the amount pay to the tax authorities during the year is shown below;

Let us assume the accrued payment be $6,000

Let us assume the amount pay to the tax authorities be X

Beginning Taxes payable account balance + Accrued payment - X = Ending taxes payable account balance

$3,000 + $6,000 - X = $7,000

$9,000 - X = $7,000

So, the X is

= $9,000 - $7,000

= $2,000

hence, the amount pay to the tax authorities is $2,000

4 0
3 years ago
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