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3 years ago

A progressive tax system: __________

Business

1 answer:

otez555 [7]3 years ago

5 0

Answer:

a) Means higher marginal tax rates at higher income levels.

Explanation:

The progressive tax system is a system where the rate of the taxes according to the increased in the taxable amount. It generally applied to the personal income taxes that means if the people have the less income so less tax rate would be applied and if the people have the high income so high tax rate is applied

Therefore as per the given situation, the option a is correct

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Beg. of Year End of Year Raw Materials Inventory $26000 $31,459 Work in process inventory $35000 $30,113 Finished goods inventor

Hunter-Best [27]

Answer:

COGS= $168,899

Explanation:

Giving the following information:

Beginning Raw Materials $26000

Ending Raw Materials $31,459

Beginning Work in process $35000

Ending WIP $30,113

Beginning Finished goods $14000

Ending Finished goods $28,663

Purchases of DM $73000

Direct Labor $43,853

Manufacturing overhead:

Indirect Labor $40000

Insurance on plant $10000

Depreciation - plant building and equipment $12,294

Repairs and maintenance - plant $4,987

Total= $67,281

First, we need to calculate the cost of goods manufactured:

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 35000 + (26000 + 73000 - 31459) + 43853 + 67281 - 30113= 183,562

Now, we can calculate the cost of goods sold:

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

COGS= 14000 + 183562 - 28663= $168,899

3 0

3 years ago

Suppose that GDP is $10,000, Consumption is $6,000, and Government spending is $1,500 with a deficit of $200. (Assume net export

Marta_Voda [28]

Answer:

private saving = $2700

Explanation:

given data

GDP = $10,000

Consumption = $6,000

Government spending = $1,500

deficit = $200

solution

we know here equation of GDP that is express as

GDP = Consumption + investment + Government spending ...................1

we consider here tax revenue that is = T

T - Government spending = - deficit

T = Government spending - deficit

T = $1500 - $200

T = $1300

so we can say from equation 1

( GDP - Consumption - T ) + ( T - Government spending ) = investment

and investment = private saving + public saving

so private saving will be

private saving = GDP - Consumption - tax revenue ................2

private saving = $10000 - $6000 - $1300

private saving = $2700

8 0

4 years ago

Torid Company processes 18,700 gallons of direct materials to produce two products, Product X and Product Y. Product X sells f

lana66690 [7]

Answer:

Explanation:

Data given in the information

Product X is the byproduct.

In addition, the By products are recorded in the general ledger at the point of sale

So in this case, the quantity sold is considered only no other things would be recognized

Hence, in this the quantity sold and quantity produced is not recorded

Therefore , No ending inventory should be recognized in the general ledger for this by products

4 0

3 years ago

A former client wished to sue a broker for $20,000 in damages resulting from the alleged negligence of the broker. The suit woul

Cerrena [4.2K]

If a former client wished to sue a broker for $20,000 in damages resulting from the alleged negligence of the broker. The suit would be brought in by: <u>Superior Court.</u>

<h3>What is negligence?</h3>

Negligence can be defined as an act of carelessness that inturn led to damage or injury.

Superior court is a court that is in charge of criminal cases and this court tend to arraign a suspect before making final judgement or decision based on the act committed by the suspect.

Therefore If a former client wished to sue a broker for $20,000 in damages resulting from the alleged negligence of the broker. The suit would be brought in by: <u>Superior Court.</u>

<u></u>

Learn more about Negligence here:brainly.com/question/14480857

#SPJ1

5 0

2 years ago

Nurix, inc. is a business consulting firm. during the month of february, nurix earned $55,600 of revenues by providing services

klemol [59]

The unit cost per service is calculated by dividing the total operating cost of services by the number of service units.

In the given problem, the operating expenses are $9,000 which shall be considered the cost of services provided. And the number of the service unit is given 46 units.

Hence, unit cost per service shall be $9,000/46 = <u>$195.65</u>

Note: We have rounded off the final answer to the nearest cent or two decimal places.

5 0

4 years ago