Answer:
The answer is "12.7"
Explanation:
In the question the correct choice is missing so, its correct solution can be defined as follows:
Following are the formula for calculating the "Average Inventory":
Formula:
Answer and Explanation:
Before passing the journal entries we need to do following calculations
Particular Current year Future taxable amounts ($ in 000s)
2021 2022 2023 2024
Accounting
income $824
less: Permanent
difference ($34 )
Temporary difference :
less: installments
sales ($570 ) $190 $190 $190
Taxable
income $220
Multiply
Enacted tax rate 25% 25% 30% 30%
Tax payable
currently $55
Deferred tax liability $47.5 $57 $57 $161.50
Less: Beginning balance $0
Change in balance : credit (debit ) $161.50
1. Now the journal entry is
On 2021
Income tax expense ($161.50 + $55) $216.50
To Deferred tax liability $161.50
To Income tax payable $55
(Being the income tax for 2021 is recorded)
2. And, the net income is
= Pre accounting income - income tax expense
= $824,000 - $216,500
= $607,500
Answer: A. Impossibility of performance
Explanation:
Impossibility of contract is a doctrine where by a contract is rendered invalid on the bases of uncontrollable circumstances which renders performance of contract impossible. Impossibility of performance can be difficult to prove.
Answer:
A budget deficit causes an increase in interest rates, which causes a decrease in investment spending.
Explanation:
In domain of economics, crowding out
can be regarded as a phenomenon which take place as a result of increased in involvement of government in market economy sector which substantially has effect on remainder of the market, this effect could be on the supply side, it could be on demand side of the market. An example of crowding out is A budget deficit causes an increase in interest rates, which causes a decrease in investment spending.
Answer:
a. Determine the standard cost per unit for direct materials and direct labor.
standard direct labor rate = $20 x 30/60 minutes = $10 per faucet
standard direct materials rate = $1.80 x 2.5 lbs = $4.50 per faucet
b. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance.
direct materials price variance = (actual price x actual quantity) - (standard price x actual quantity) = ($1.95 x 13,000) - ($1.80 x 12,500) = $25,350 - $22,500 = $2,850 UNFAVORABLE
direct materials quantity variance = (standard price x actual quantity) -(standard price x standard quantity) = ($1.80 x 13,000) - ($1.80 x 12,500) = $23,400 - $22,500 = $900 UNFAVORABLE
total direct materials variance = direct materials price variance + direct materials quantity variance = $2,850 + $900 = $3,750 UNFAVORABLE
