Answer:
Sin taxes are typically added to liquor, cigarettes, and goods that are considered morally hazardous. Because they generate enormous revenue, state governments favor sin taxes. ... The sin tax seeks to reduce or eliminate consumption of harmful products by making them more expensive to obtain
Explanation:
Answer: a common stock.
Explanation:
Following the information given in the question, the additional $10,000 of owners' equity will be regarded as a common stock.
Commission stock is regarded as a corporate equity ownership and each share of stock simply means the holder has a small portion of ownership of that particular company. Every addition in owner's equity is common stock.
Average variable cost (ATC/Q)
Answer:
Instructions are listed below.
Explanation:
Giving the following information:
The standard labor cost for a motor tune-up is given below:
Standard Hours= 2.5
Standard Rate= $33
Standard Cost Motor tune-up= 82.5
The shop supervisor recalls that 58 tune-ups were completed during the week, and the controller recalls the following variance data relating to tune-ups:
Labor rate variance $ 80 F
Labor spending variance $ 118 U
1) Direct labor efficiency variance= (SQ - AQ)*standard rate
Direct labor efficiency variance= (58*2.5 - actual quantity)*33
118= (145 - AQ)*33
118= 4,785 - 33AQ
-4,667= -33AQ
141.42= Actual Quantity
2) Direct labor price variance= (SR - AR)*AQ
80= (2.5 - Actual rate)*141.42
-273.55= -141.42AR
1.92= Actual rate
Answer:
Cost recorded for this machine = $14,240
Explanation:
Particulars Amount
Invoice Price $12,500
Less: Cash Discount <u>$250</u> (12,500*2%)
Net Purchase Price $12,250
Add: Transportation Costs $360
Add: Power Connections $895
Add: Assemble Cost $475
Add: Material used $40
Add: Repair $180
Add: Material used in adjusting <u>$40 </u>
Amount to be capitalized <u>$14,240 </u>
Note: <em>The repair cost is included because it is incurred before machine is put in operation.</em>