Answer: <em>Inventory requisitioned for job = $481500</em>
Explanation:
Given:
Raw materials = $3500
Material on hand = $3000
Material purchased = $475000
Paid (for material purchased) = $412500
Therefore we can compute the inventory requisitioned for job using the following formula:
Inventory requisitioned for job = Material purchased + Opening inventory - Closing inventory
Inventory requisitioned for job = $3500 +$3000 + $475000
Inventory requisitioned for job = $481500
Answer:$559.50
Explanation:
Using the formula
PV x (1 + r) ^ n = FV
where PV= Present value
r= rate
n=number of years
FV= Future value
a) Future value to earn in 3 yrs for amount of $115
115 x (1+7.65%) ^3 = $143.463
b) Future value to earn in 2 yrs for amount of $150
150 x (1+7.65%) ^2= $173.8278
c)Future value to earn in 1 year for amount of $225
225 x (1+7.65%) ^1= $242.2125
Total Amount Accumulated in three years = $143.463 + $173.8278+ $242.2125 =$559.5033 = $559.50
The final burden of tax is said to be incidence of tax.
Answer: Option B
<u>Explanation:
</u>
The incidence of tax is a monetary term of division of the taxation rate between the purchaser and merchants. It is identified with the value flexibility of the interest and supply. It is a circulation of assessment and commitments, which must be secured by the purchasers and dealers.
For example when the inventory is more than request, the taxation rate falls on the purchaser and when the interest is more than supply, the taxation rate falls on the merchant.
