In 2017, Phoenix Corporation is a controlled foreign corporation (CFC) incorporated in Country X. It is 100% owned by its U.S parent corporation. Phoenix has $80,000 of taxable income from the sale of widgets that were purchased from their U.S. parent corporation. All widgets have the same gross profit. Sixty percent of the widgets were sold through a Country Y wholesaler that is 100% owned by
Phoenix, and are destined for use in Country Y. The remaining 40% are sold through unrelated Country X wholesalers and are destined for use in Country X. What amount of profits will be constructively distributed as foreign-based company sales income to the U.S. parent company?
A) $0
B) $32,000
C) $48,000
D) $80,000
C) $48,000
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Those who believe that marketing should be organized by the functional organization model think that keeping marketing people aligned with their functional specialties
a. diffuses bottom line responsibility b. reduces the need for coordination c. clarifies who is responsible if a product fails d. allows them to use someone untrained in marketing in the role e. provides economies of scale
The key phrase in the definition of reliability is______.
a. probability that a component, product, or system can perform its function b. under a given set of normal operating conditions of its use c. perform its intended function d. conditions of use
The current U.S. dollar-yen spot rate is 125¥/$. If the 90-day forward exchange rate is 127 ¥/$ then the yen is selling at a per annum ________ of ________
A) premium; 1.57% B) premium; 6.30% C) discount; 1.57% D) discount; 6.30%
Puvo, Inc., manufactures a single product in which variable manufacturing overhead is assigned on the basis of standard direct labor-hours. The company uses a standard cost system and has established the following standards for one unit of product: Standard QuantityStandard Price or RateStandard CostDirect materials 5.8pounds$0.60per pound$3.48Direct labor 0.5hours$33.50per hour$16.75Variable manufacturing overhead 0.5hours$8.50per hour$4.25?During March, the following activity was recorded by the company:•The company produced 2,400 units during the month. •A total of 19,400 pounds of material were purchased at a cost of $13,580. •There was no beginning inventory of materials on hand to start the month; at the end of the month, 3,620 pounds of material remained in the
warehouse. •During March, 1,090 direct labor-hours were worked at a rate of $30.50 per hour. •Variable manufacturing overhead costs during March totaled $14,061. ?The direct materials purchases variance is computed when the materials are purchased.?The variable overhead rate variance for March is: A. $5,120 U B. $4,769 U C. $5,120 F D. $4,769 F