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2 years ago

TB MC Qu. 03-111 A manufacturer of cedar shingles...

Business

1 answer:

MakcuM [25]2 years ago

7 0

Answer:

A. 42%

Explanation:

Given the above information,

Contribution margin ratio = (Selling price - Unitary variable cost) / Selling price

Selling price = $2,122,200 / 262,000 = $8.1

Total variable cost = Variable manufacturing expense $975,200 + Variable selling and administrative expense $260,400 = $1,235,600

Unitary variable cost = $1,235,600 / 262,000 = $4.72

Contribution margin ratio = (8.1 - 4.72)/8.1 = 41.73% = 42%

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Mill Company began operations on January 1, 20X1, and recognized income from construction-type contracts under different methods

Vinvika [58]

Answer:

Deferred tax asset balance on December 31, 20X3 = $115,500

Explanation:

The computation of the amount of deferred income taxes should Mill report is shown below:

<u>Year Tax purpose Book purpose Difference Deferred tax book </u>

20X1 $400,000 $0 $400,000 $84,000

20X2 $625,000 $375,000 $250,000 $52,500

20X3 $750,000 $850,000 ($100,000) ($21,000)

Deferred tax asset balance on December 31, 20X3 = $115,500

5 0

2 years ago

A __________ is an example of an external user of financial information.

Alchen [17]

<span>External users are people outside the business entity (organization) who use accounting information. Examples of external users are suppliers, banks, customers, investors, potential investors, and tax authorities.</span>

7 0

3 years ago

He offers an annual bonus of $10,000 for superior performance, $6,000 for good performance, $3,000 for fair performance, and $0

Alik [6]

If he offers an annual bonus of $10,000 for superior performance, $6,000 for good performance, $3,000 for fair performance, and $0 for poor performance. Based on prior records, he expects an employee to perform at superior, good, fair, and poor performance levels with probabilities 0.10, 0.20, 0.50, and 0.20, respectively. The expected value of the annual bonus amount will be: $3,700

First step

Expected value for Superior performance=$10,000×0.10

Expected value for Superior performance=$1,000

Expected value for Good performance=$6,000×0.20

Expected value for Good performance=$1,200

Expected value for Fair performance=$3,000×0.50

Expected value for Fair performance=$1,500

Expected value for Poor performance=$0×`1,500

Expected value for Poor performance=$0

Now let determine the total expected value of the annual bonus amount

Expected value of annual bonus amount=$1,000+$1,200+$1,500+$0

Expected value of annual bonus amount=$3,700

Inconclusion if he offers an annual bonus of $10,000 for superior performance, $6,000 for good performance, $3,000 for fair performance, and $0 for poor performance. Based on prior records, he expects an employee to perform at superior, good, fair, and poor performance levels with probabilities 0.10, 0.20, 0.50, and 0.20, respectively. The expected value of the annual bonus amount will be: $3,700

Learn more here:

brainly.com/question/22845794

5 0

3 years ago

Mike Samson is a college football coach making a base salary of $632,400 a year ($52,700 per month). Employers are required to w

lakkis [162]

Answer:

Part 1:

Total amount withheld for Social Security and medicare=$16264.2

Amount withheld for Social Security=$7049.4

Part 2:

Additional amount which the employer will contribute=$16264.2

Explanation:

Part 1:

Amount withheld for Social Security= $113700 * 6.2%=$113700 * 6.2/100

Amount withheld for Social Security=$7049.4

Amount withheld for Medicare=$632400 * 1.45%=$632400 * 1.45/100

Amount withheld for Medicare=$9169.8

Total amount withheld for Social Security and medicare=$7049.4+$9169.8

Total amount withheld for Social Security and medicare=$16264.2

Part 2:

The additional amount which the employer will contribute towards the FICA taxes is same as withheld by Coach Samson.

Additional amount which the employer will contribute=$7049.4+$9169.8

Additional amount which the employer will contribute=$16264.2

4 0

3 years ago

Help please!!

Simora [160]

Answer: A domestic corporation operates in the home country, a party established in one and business in the other. Shareholders. They decide on a payout. Relationship between different levels of the market.

Explanation:

Domestic corporations are large enterprises that are established in a particular country and do business in that home country. This does not mean that the same corporation has no representative office in a foreign country. A foreign corporation is a corporation that operates in a particular state but is incorporated (or otherwise formed, as its laws provide) in a foreign country.

Shareholders are the ultimate owners of corporations. They elect directors and set up corporate administration. They make the most critical decisions regarding a particular corporation and are the owners of shares held by a specific corporation. Shareholders enter into contracts and conduct the central policy when it comes to business.

In case the company has a surplus of earnings and decides to pay a dividend to the common shareholders. This assessment is usually made every three months, and then the decision is made. In this case, one-tenth of the accumulated profit is paid.

Proxy, in a broad sense, is a connection. This can be a different type of relationship. In this context, it can be a link between different corporations, between the directors of the corporation and the shareholders. Between directors and employees, etc.

A quorum represents the number of people needed to hold a founding assembly meeting. That number varies so that it may be different depending on the corporation. The majority refers to the number present, not the vote number. The number of quorum members is usually stated in the founding documents or the articles of association of the corporation.

6 0

3 years ago