Answer:
$52,285
Explanation:
The computation of the total manufacturing cost assigned to Job P is shown below:-
Total manufacturing cost = Direct material + Direct labor + Manufacturing overhead applied
= $13,000 + $21,000 + (2,300 × $7.95)
= $13,000 + $21,000 + $18,285
= $52,285
Therefore for computing the total manufacturing cost assigned to Job P we simply applied the above formula.
Answer: $34,980.13
Explanation:
The amount that the company will spend 4 years from now is simply the future value of the amount that it can spend today.
The amount to be spent today is $20,000 so the amount to be spent 4 years from now is the future value of $20,000:
= Amount * (1 + rate) ^ number of years
= 20,000 * ( 1 + 15%)⁴
= $34,980.13
A net worth statement, financial goals, and a budget are all part of a financial plan.
Answer:
D. Attend this afternoon's meeting
Explanation:
So Many high school freshman have a goal just to become familiar with their new setting.
Answer:
The undervaluation penalty is $560
Explanation:
Solution
Under valuation penalty applied when a person valued assets understated to save tax.
The undervaluation reduces the tax and hence comes with accuracy related penalty.
From the example, Tim undervalued the gift of $7,000 which is valued at $15,000 by IRS.
The deduction is undervalued for more than 150% and hence penalty is assessed. this is so because the income tax valuation is lower than 40%, so the penalty rate is 20%
Thus,
The calculation of overvaluation penalty is given below:
Undervaluation = $8000
Tax rate = 35%
Tax amount = $2,800
Penalty rate = 20%
Penalty on undervaluation is =$560
Therefore, the undervaluation penalty is $560
