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2 years ago

5

A stamping machine is classified as seven-year macrs property. the cost basis for the machine is $120,000 and the expected salva

ge value is $10,000 at the end of 12 years. what is the value at the end of three years for tax purposes?

1 answer:

Annette [7]2 years ago

3 0

$10,000*(12-3)=$90,000
That value would be $90,000

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4.30 Support for casino in Toronto. In an effort

Vinil7 [7]

Answer:

a) 7% or 0.07

b) 42% or 0.42

Explanation:

Let's begin by listing out the given information:

Population = 902,

Probability distribution

Strongly support = 0.16 or 16%,

Somewhat support = 0.26 or 26%,

Mixed feelings = ?,

Somewhat oppose = 0.14 or 14%,

Strongly oppose = 0.36 or 36%

Don't know = 0.01 or 1%

a) The summation of every probability of an event (survey) is 100% ⇒ Pr (survey) = 100%

Pr (survey) = Pr [strongly support + somewhat support + mixed feelings + somewhat oppose + strongly oppose + don't know]

100 = 16 + 26 + x + 14 + 36 + 1

To obtain the probability of the 'Mixed feelings' populace, we subtract the summation of all other probabilities from 1 or 100%

x = 100 - (16 + 26 + 14 +36 + 1) = 100 - 93

x = <u>7%</u> or <u>0.07</u>

∴ the probability of the 'Mixed feelings' populace is 7% or 0.07

b) Probability of a random adult supporting is given by the summation of the probabilities of the adults who strongly support & those who somewhat support

Pr (support) = Pr (strongly support) + Pr (somewhat support)

Pr (support) = 0.16 + 0.26

Pr (support) = <u>0.42</u> or <u>42%</u>

∴ the probability that a randomly chosen adult supports the casino in Toronto is 42%

8 0

2 years ago

An entrepreneur is investigating starting a company that provides tax advice to small companies. In order to position his compan

sineoko [7]

Answer: Option D

Explanation: The scope of providing better quality services in case of tax consultancy is quite difficult as the tax rates and rules are already set and there is little area for flexibility.

However, the manner of providing service could be changed maximizing the satisfaction of the customer or such areas of service could be covered which are not provided by the other firms.

Hence from the above we can conclude that the correct option is D.

4 0

2 years ago

Pacifica Industrial Products Corporation makes two products, Product H and Product L. Product H is expected to sell 40,000 units

Lisa [10]

Answer:

Product L= $34

Product H= $34

Explanation:

Giving the following information:

Product H is expected to sell 40,000 units next year and Product L is expected to sell 8,000 units.

A unit of either product requires 0.4 direct labor-hours.

Estimated overhead= $1,632,000. R

First, we need to calculate the estimated overhead rate:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 1,632,000/(48,000*0.4)

Estimated manufacturing overhead rate= $85 per direct labor hour

Now, we can allocate overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Product L= 85*0.4= $34

Product H= 85*0.4= $34

3 0

2 years ago

Companies can improve job cost accuracy by using ________. a. a plantwide overhead rate direct-labor hours b. to apply overhead

Alex787 [66]

Answer: c. multiple predetermined overhead costs

Explanation:

Companies can improve job cost accuracy by using ________.

(A) a plantwide overhead rate

(B) direct-labor hours to apply overhead

(C) multiple predetermined overhead rates

(D) number of units in the job to apply overhead

By applying multiple predetermined overhead costs, companies can improve job cost accuracy. This is because it provides more accurate product costs. It is usually employed in large companies. Here, each department engaged in production runs its own predetermined overhead rate. Though while more complex, is known to be more accurate since it reflects the differences across the various production departments in how overhead costs are incurred, hence, job accuracy is improved significantly.

6 0

2 years ago

B) Suppose that regular raises at your job allow you to increase your annual payment by 5% each year. For simplicity, assume thi

iren2701 [21]

Answer:

Time period required to pay off the mortgage = 18 years

Explanation:

Note: This question is incomplete and lacks necessary data to solve. But I have found that necessary data on the internet, which I have written down and solved the question accordingly.

Data Missing:

Buying Cost of House = $320000

Interest rate = 7%

Annual Mortgage Payment = $25525.8

Now, we are required to calculate the time period required to pay off the mortgage.

Solution:

Data Given:

Increase in annual payment percentage = 5%

So,

Formula:

P = C $e^{A-i}$ + C $e^{2(A-i)}$ + C $e^{3(A-i)}$ + ........ + C $e^{n(A-i)}$

Where,

P = Buying Cost of House = $320000

i = interest rate = 7% = 0.07

A = Increase in annual payment percentage = 5% = 0.05

C = Annual Mortgage Payment = $25525.8

P = C $e^{A-i}$ + C $e^{2(A-i)}$ + C $e^{3(A-i)}$ + ........ + C $e^{n(A-i)}$

In this formula, we have all the required things expect the value of n, which we have to calculate.

n = Time period required to pay the mortgage.

So,

$320000 = 25525.8 $e^{0.05 - 0.07}$ + 25525.8 $e^{2(0.05 - 0.07)}$ + 25525.8 $e^{3(0.05 - 0.07)}$ + ..... + 25525.8 $e^{n(0.05 - 0.07)}$

Taking 25525.8 common,

320000 = 25525.8 ( $e^{-0.02}$ + $e^{-0.04}$ + $e^{-0.06}$ + .... + $e^{-0.02n}$ )

320000/25525.8 = ( $e^{-0.02}$ + $e^{-0.04}$ + $e^{-0.06}$ + .... + $e^{-0.02n}$ )

12.536 = ( $e^{-0.02}$ + $e^{-0.04}$ + $e^{-0.06}$ + .... + $e^{-0.02n}$ )

Taking e common:

12.536 = $e^{-0.02 -0.04 - 0.06 + .... -0.02n}$

Taking Ln to solve for n, we get:

n = 17.89

n ≈ 18

n = 18 years

Hence, Time period required to pay off the mortgage = 18 years

8 0

2 years ago