Answer:1, 11, and IV
Explanation:
The price of X-547 is relevant so it can be compared with the price of selling Xylene IV.
The variable cost of processing X-547 to X-ylene is also relevant to determine the contribution from the product.
The selling price of Xylene will also help in determining the contribution.
Since the fixed cost of processing X 547 to X-ylene is avoidable means it's not relevant.
The joint cost of process from which X 547 is produced is also not relevant since it will be Incurred if X 547 is produced or not.
Profit margin is 25%
Given net income is $10,000 and sales is $40,000.
Cost = Sales - net income
=$40,000-$10,000
=$30,000
Profit margin to be computed.
Profit margin measures how much the money a firm or the business activity produces by dividing income by the revenues. Profit margin, given as a percentage, is basically the number of cents earned for every dollar of the sales.
Profit margin is computed with the formula given below:
Profit margin= Revenue-Cost / Revenue
= $40,000- $30,0000/ $40,000
= 0.25
=25%
Therefore, the correct option of the profit margin is c. 25%.
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Answer:
Unemployment rate= 6.52%
Explanation:
Giving the following information:
An economy has a population of 226,500, of whom 12,500 are unemployed and actively seeking work, and 35,000 have given up looking for a job. Also, 28,000 people work part-time, and 151,000 people work full-time.
Total active population= 12500 + 28,000 + 151,000= 191,500
Unemployment rate= 12500/191500= 6.52%
Answer:
a. Tax basis $550,625
b.Three years
c. $245,000
d. Three years
Explanation:
a. Calculation to determine Lance’s tax basis in his LLC interest
Lance’s tax basis in his LLC interest will be $550,625 ( $245,000+$305,625)
Based on the information given Lance’s basis in his LLC INTEREST is been made up of the amount of $245,000 basis of the investment property he transferred to the LLC including his $305,625 share which is calculated as ($407,500 x 75%) of the LLC debt reason been that LLC general debt obligations are tend to be treated as NON RECOURSE DEBT which is why Lance’s profit sharing ratio is used to allocate a portion of the LLC debt to him.
b. Based on the information given Lance's Holding period in his interest is THREE YEARS in which Lance had been holding investment property.
c. Cloud Peak’s basis in the contributed property will be Basis of $245,000
d. Cloud Peak’s holding period in the contributed property is THREE YEARS.