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2 years ago

Venus wholesale co. started carrying a new product in december. purchases and sales of this product during the month were:

1 answer:

7 0

<span>During the month of December Venus Wholesale Co. purchased 140 units at $80 per unit on December 20 and sold 60 units on December 26. And on December 28 they purchased 140 units at $120 per unit. They started carrying the product in December.</span>

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Xion Co. budgets a selling price of $80 per unit, variable costs of $35 per unit, and total fixed costs of $270,000. During June

nika2105 [10]

Answer and Explanation:

The preparation of flexible budget report is shown below:-

Xion CO.

Flexible budget report

Flexible budget Actual results Variances Favorable/

Unfavorable

Sales $864,000 $885,000 $21,000 Favorable

(10,800 × $80)

(-) Variable

cost $378,000 $351,000 $27,000 Favorable

(10,800 × $35)

Contribution $486,000 $534,000 $48,000 Favorable

(-) Fixed cost $270,000 $285,000 $15,000 Unfavorable

Net income $216,000 $249,000 $33,000 Favorable

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2 years ago

Poor internal compliance with supply processes may indicate that internal customers do not trust the supply process or the suppl

bagirrra123 [75]

That statement is True

Internal Compliance is carried out to ensure that all process are done according to regulated rules and standard

Poor internal compliance could indicate that certain process is not carried out according to standard, which could damage the trust of internal customers

3 0

2 years ago

Reese, a calendar-year taxpayer, uses the cash method of accounting for her sole proprietorship. In late December, she received

muminat

Answer:

a. What is the after-tax cost if she pays the $39,000 bill in December?

= $23,000 x (1 - 32%) = $15,640

b. What is the after-tax cost if she pays the $39,000 bill in January? (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.)

total after tax cost (including investment revenue):

= $23,000 x (1 - 37%) = $14,490

= -$23,000 x 7% x 1/12 x (1 - 37%) = -$84.53

= $14,405.47

c. Should Reese pay the $23,000 bill'in December or January?

January , since the after tax cost is lower

d. What is the after-tax cost if she expects her marginal tax rate to be 24 percent next year and pays the $23,000 bill in January?

= $23,000 x (1 - 24%) = $17,480

= -$23,000 x 7% x 1/12 x (1 - 24%) = -$101.97

= $17,378.03

e. Should Reese pay the $23,000 bill in December or January if she expects her marginal tax rate to be 32 percent this year and 24 percent next year?

December, since the after tax cost is lower

3 0

2 years ago

Red and White Company reported the following monthly data: Units produced 2,100 units Sales price $ 26 per unit Direct materials

Sloan [31]

Answer:

Under the variable costing fixed production overheads are treated as periodic costs and not included in closing stock. Amount $ Calculation Direct materials 1.00 Given Direct labor 2.

Explanation:

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2 years ago

10 percent partner in a partnership that incurred a $4 million business loss this year. Jahlil has no other business activities.

sashaice [31]

Answer:

$250,000 and $500,000

Explanation:

According to the tax laws there is annual limit on Loss deductions relating the amount of business loss that can be deducted in a year.

The law states that single or individual tax payers can deduct nothing more than $250,000 while married taxpayers who are filing jointly can deduct up to $500,000 per year of their business losses.

Therefore, if Jahlil is single the amount of partnership loss he can deduct is $250,000 but if he is married filing jointly, he can deduct $500,000

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2 years ago