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Katherine filed her 2015 federal individual income tax return on April 15, 2016. It showed Katherine owed a balance due of $8,500. Katherine included a check for $1,000 when she filed her federal individual tax return, but she will not pay the remaining balance due of $7,500 until September 20, 2016. Katherine has received a bill from the IRS for interest on the unpaid federal tax of $7,500 and she has received a letter saying she will owe a penalty. What is the amount of Katherine’s late payment penalty? Please explain your answer and show your calculations.
Determine the sales and variable cost volume variances, assuming volume is actually 31,000 units . Indicate whether the variances are favorable (F) or unfavorable (U).
Birdie Co. makes three products, A, B and C. They have a constrained resource - machine hours
Net income for the year ended December 31, year 2, was $60,000. At December 31, year 2, what amount should Cyan report as retained earnings?
Which of the following does not describe a characteristic of process costing? All units of production receive precisely the same amount of material, labor, and overhead.
listed below are costs found in various organizations.1. property taxes factory. 2. boxes used for packaging
Compute the unit contribution margin for each product. Determine which product should be produced in priority, given the labor constraint, and explain why.
Unit costs are calculated in a similar way in most business sectors, as are pricing decisions - you will need to give the formula and explain the link between Unit Cost and Selling Price, and the importance of information on Fixed Costs, Variable..
Identifying business activities requires selecting transactions and events relevant to an organization. Which of the following events would be recorded in the accounting records of Acme Car Wash? Assets created by selling goods and services on credit..
question kravitz company is planning to get a 250000 machine to enhance manufacturing efficiencies thereby reducing
Compute the break-even number of seats sold on a single round-trip flight for the overall product. Assume that the overall product is 20% business class and 80% economy class tickets.
Daisy Childs has decided to start an? e-tail business which will sell doggie treat dispensers. Daisy will sell each unit for? $60 and will purchase the units from a foreign supplier for? $20 each. Daisy expects no other costs as long as she? doesn’t ..
Sam owes Bob $8,000. Bob cancels (forgives) the debt. The cancellation is not a gift, and Sam is bankrupt. Which of the following statements is correct concerning the impact of this transaction?
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