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IceJOKER [234]
2 years ago
11

Ted is an agent for Waxwing Corporation, an airliner manufacturer, and is negotiating a sale with a representative of the U.S. g

overnment and with a representative of a developing country. Waxwing has sufficient capacity to handle only one of the orders. Both orders will have the same contract price. Ted believes that if Waxwing will authorize a $500,000 payment to the representative of the foreign country, he can guarantee the sale. He is not sure that he can obtain the same result with the U.S. government. Identify the relevant tax issues for Waxwing. Discuss why they could or should influence Waxwing's decision.
Business
1 answer:
Goshia [24]2 years ago
4 0

Answer:

The Non-deductible amount of $500,000 paid to the representative of a developing country and the qualification for a 9% deduction will influence the decision of Waxwing and they will choose to do business with the US government  

Explanation:

The payment of $500,000 to the representative of a developing country in order to Guarantee sales to the country is illegal and will be considered as a bribe. and any money paid as a bribe or a kickback to an employee or representative of a country it is not deductible

secondly If waxwing goes into contract with the US government they will qualify for a 9% deduction under the Domestic production activities deduction

The Non-deductible amount of $500,000 paid to the representative of a developing country and the qualification for a 9% deduction will influence the decision of Waxwing and they will choose to do business with the US government  

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Suppose you live in New York City and the government has imposed price ceilings on apartment rental rates. You want to rent an a
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PA5.
daser333 [38]

Answer:

Using weighted average method

Statement of equivalent units

                                                   Material    Conversion

                                                    Units         Units

Units transferred out                   19,000       19,000

Add: Closing work-in-progress   <u> 6,000 </u>      <u> 1,800</u>

Average divisor                            <u> 25,000 </u>    <u>20,800</u>

                        Computation of cost per unit

                                                              Material   Conversion

                                                                   $               $

Cost of beginning work-in-progress   10,000      19,000

Cost added                                           <u> 50,000 </u>   <u>112,248</u>

Total cost                                               <u> 60,000 </u>   <u>131,248</u>

Material cost per unit = <u>$60,000</u>

                                         25,000 units

                                    = $2.40 per unit

Conversion cost per unit = <u>$131,248</u>

                                            20,800 units    

                                          = $6.31 per unit

 Value of units transferred out

  Material = 19,000 x $2.40  = $45,600

  Conversion = 19,000 x $6.31 = $119,890

  Value of closing work-in-progress

 Material = 6,000 x $2.40 = $14,400

  Conversion = 1,800 x $6.31 = 11,358

           

Explanation:

In this case, we need to prepare statement of equivalent units in order to ascertain the average divisor. The average divisor is the sum of units transferred out and closing work-in-progress. Then, we will obtain the total cost of material and conversion, which is the aggregate of cost of opening work-in-progress and cost of units added. We will also calculate the cost per unit, which is total cost of material and conversion divided  by average divisor. Finally, the units transferred  and ending work-in-progress will be valued at unit cost of material and conversion.                                

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