The Great Gumball Corporation is a gumball producer. The corporation has accumulated earnings of $425,000 and it can establish a reasonable need for $360,000 . Calculate the amount of the accumulated earnings tax, if any, that will be imposed on the corporation
$13,000 = 20% × ($425,000 - $360,000)
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The direct labor rate variance is the difference between the standard hours allowed and the actual hours multiplied by the actual labor rate
Indicate whether the statement is true or false
Costs that support an overall production or service process are referred to as ______________________________
Fill in the blank(s) with correct word
Researchers found a statistically significant inverse relationship between a country's economic prosperity, as measured by the per capita gross domestic product, and the country's judicial independence
a. True b. False Indicate whether the statement is true or false
Doric Agricultural Corporation uses a predetermined overhead allocation rate based on the direct labor cost
The manufacturing overhead cost allocated during the year is $300,000. The details of production and costs incurred during the year are as follows: Actual direct materials cost $812,000 Actual direct labor cost $170,000 Actual overhead costs incurred $264,000 Total direct labor hours 5,580 hours What is the predetermined overhead allocation rate applied by the corporation? (Round your answer to two decimal places.) A) 88.00% B) 64.39 % C) 176.47% D) 36.95%