Response:
The difference in the cost of direct materials per equivalent unit between the two months is $0.70.
Clarification:
First, determine the direct cost per equivalent unit for September
Direct cost per equivalent unit = Total Cost / Total Equivalent units
= $12,000 / 7,500
= $1.60
The difference between the two months.
September = $1.60
Less August = ($0.90)
Difference = $0.70
Response: $1,110.
Explanation:
Data Provided: Revenue from concession stand sales on game day = $5,550
That is to say, Gross income = $5,550
Event profit = $3,330
Thus, Net income = $3,330
Using the Net income formula:
Gross income - expenses = Net income
Therefore, Expenses = Gross income - Net income
Thus, Expenses = $5,550 - $3,330
Thus, Expenses total $1,110.
Response:
To begin with, let's clarify current and deferred taxes;
Current Tax - The amount of Income Tax that needs to be paid based on taxable income during a specific timeframe.
Deferred Tax - This refers to taxes resulting from timing discrepancies. The gap between tax expenses (calculated based on accrual) and the current tax liability for a given period in accordance with Federal Income Tax Law defines deferred tax, whether it manifests as an asset or liability. This leads to the formulation: Tax Expenses + Current Tax + Deferred Tax.
Following these explanations, the resolution to the question is provided below:-
Details Amount
Income for the Current Year as per financial records $ 48,000
Taxable Income for the Current Year according to Income Tax Regulations $ 38,000
Tax Payable for the Current Year based on Federal Income Tax Regulations $ 5,600
Tax Due for the Current Year according to financial records $ 7,600
Deferred Tax Asset to record in the financial ledgers $ 2,000
Tax Rate applicable for recording Deferred Tax Asset in the financial ledgers = 20%
1) The minimum average total cost occurs when Ted catches and processes 2,000 fish, leading to a cost of $45 per fish. 2) When the market price is set at $51 per fish, Ted's optimal output is 3,000 fish, yielding a profit of $12,990. 3) At a market price of $45 per fish, Ted would again produce 2,000 fish but would not earn any profit.
Answer:
To achieve a strong credit score, one must consistently manage debt repayments since they began borrowing.
Your friend is mistaken in thinking that everyone who made all payments on time within a single year has a high credit score, as this view overlooks prior years' activities.
Some individuals might have missed payments on earlier loans but managed to maintain timely payments in 2015. Although this can enhance their credit score, the score would still reflect a lower value due to previous behaviors that negatively impacted it.
