Answer:
The correct answer is letter "A": Jeffrey will be solely responsible for making payments for his Social Security (FICA).
Explanation:
Independent contractors act like third party services working for an entity to render services for specific jobs. Independent contractors are not employees of the company who hires them for the job which implies the independent contractors are fully responsible for the payment of their own Social Security and Medicare taxes.
Answer:
The total cost of fabric purchases is $1,949,400
Explanation:
Numbere of units produced 19000
RM required per unit 12
Total RM needs 228000
Add: Ending inventory of RM 11400
Total needs 239400
Less: Beginning inventory of RM 22800
Budgeted Purchase units 216600
Price per unit 9
Budgeted Purhase in $1949400
Therefore, The total cost of fabric purchases is $1,949,400
Answer: Step by step explanation of the consolidated balance sheet is given in the attached document.
Explanation:
Consolidated Balance Sheet
A consolidated balance sheet presents the assets and liabilities of a parent company and all its subsidiaries on a single document, with no distinctions on which items belong to which companies. If your company has $1 million in assets and it purchases subsidiaries with assets of $400,000 and $300,000, respectively, then your consolidated balance sheet will show $1.7 million in assets, and the sheet will commingle those assets. For example, in the asset section, accounts receivable will list the total amount of receivables held by all three companies.
When to Consolidate
A company must issue consolidated financial statements whenever it owns a controlling stake in another business – that is, whenever it owns more than 50 percent of that business. If the parent company owns 100 percent of the subsidiary, this is pretty straightforward. Complications arise, however, if the parent company owns a controlling stake with less than 100 percent ownership. Part of the subsidiary belongs to someone else, and that must be reflected on the balance sheet.
<u>Answer:</u>
<em>(A) Principle of Supply and Demand
</em>
<u>Explanation:</u>
In economic theory, the law of the organic market is viewed as one of the significant standards administering an economy. It is depicted as the state though supply expands the cost will in general drop or increase, and as request builds, the price will in general increment or the other way around. The increase in demand is equivalent to moving the blue line to one side. A model would be twice the same number of clients needing to purchase the item because of good verbal exchange and promoting.
Answer:
$149,000
Explanation:
Computation for the relevant costs of producing 2,400 units of product PQ107 internally
Using this formula
Relevant Costs = Incremental Costs = Incremental Variable Costs + Incremental
Let plug in the formula
Relevant Costs = [(2,400 units × $31/unit) + (2,400 units × $19/unit) + (2,400 units × $8/unit)] + $9,800
Relevant Costs=$74,400+$45,600+$19,200+$9,800
Relevant Cost =$149,000
Therefore the relevant costs of producing 2,400 units of product PQ107 internally are $149,000
