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NEW QUESTION: 1
Using absorption costing, the company's operating profit was:
A. US $900,000 C US $975,000 D US $1,020,000
B. US $750.000
Answer: A
Explanation:
Under absorption costing, product costs include fixed and variable manufacturing costs. The unit product cost under absorption costing is US $10 [ $600,000 + $400,000) 100,000 units produced]. All nonmanufacturing costs are expensed in the period incurred. Thus operating profit is US $900.000.
A company manufactures and sells a single product. Planned and actual production in its first year of operation was 100,000 units. Planned and actual costs for that year were as follow:
The company sold 85.000 units of product at a selling price of US $30 per unit.
NEW QUESTION: 2
The command ip route 192.168.100.160 255.255.255.224 192.168.10.2 was issued on a router. No routing protocols or other static routes are configured on the router. Which statement is true about this command?
A. The command creates a static route for all IP traffic with the source address 192.168.100.160.
B. The interface with IP address 192.168.10.2 is on this router.
C. The command sets a gateway of last resort for the router.
D. Packets that are destined for host 192.168.100.160 will be sent to 192.168.10.2.
Answer: D
Explanation:
Explanation
With 160 it's actually network address of /27 so any address within the range of .160-.191 network will be sent to 192.168.10.2
NEW QUESTION: 3
What is the tax expense that would have been reported on Lally's income statement for the year ended December 31 Year 1?
A. US $1.528.000 C US $1.600.000
D US $1,568,000
B. US $1,560,000
Answer: B
Explanation:
Tax expense tax income) equals the sum of current tax expense current tax income) and deferred tax expense deferred tax income). Current tax expense equals taxes paid or payable, and deferred tax expense equals the change in the entity's deferred tax assets and liabilities. Because US $100,000 of interest income and US $80,UOn of rental income are not subject to tax in Year 1. taxable profit is US $3,820,000, and current tax expense is I I $1.528.000. Deferred tax expense equals the deferred tax liability US $51 1.000 40% = US $32,000) at year end, assuming no deferred tax asset or liability balances existed at the beginning of the year. Hence tax expense is US$1.560.000$1.528.000 + $32,000).
The following relates to Lally PLC for Year 1 and Year 2.
Profit before income taxes in Year 1 included rent income of US $80,000 that was not subject to income tax until its receipt in Year 2.
Lally was subject to an effective income tax rate of 40% in Year 1 and Year 2.