Data concerning ABC Company’s single product appear below:       Per Unit Percent of Sales Selling price $230 100% Variable expenses $115 50% Contribution margin $115 50%     The company is currently selling 7,000 units per month. Fixed expenses are $581,000 per month.   Management is considering using a new component that would increase the unit variable cost by $3. Since the new component would increase the features of the company’s product, the marketing manager predicts that monthly sales would increase by 200 units. What should be the overall effect on the company’s monthly operating income of this change? PLEASE SHOW YOUR WORK BY USING THE HONORLOCK ON-SCREEN CALCULATOR.

The following data are for One Hoss Town in the fiscal year starting July 1, 2017:   Budgeted town expenditures                                         $10,000,000 Estimated revenue from other than property taxes           $  5,000,000 Net assessed value of property                                      $500,000,000   Assume 100% collection rate, and that the calculated rate does not exceed any state imposed property tax rate and does not violate any state imposed property tax revenue limitations. The Wooden family has a property with a full market value of $50,000.  One Hoss Town is in a state that by law requires that assessments be 100% of full market value.  Assuming perfectly accurate and up to date assessment of the property and no exemptions, what should the Wooden tax bill be for this property:

Which of the following would most likely be considered appropriate fiscal decision-making from a “good budgeting” perspective:

Siddhartha Gautama was born into a poor family who struggled with poverty and sickness.

Paying off municipal bonds over the useful life of the supported project (e.g., new school building or new major highway) potentially reflects:

Which of the following transactions would be income for the receiving person under the Haig-Simons definition but not under Federal income taxation laws and regulations:

ABC Company processes sugar beets in batches that it purchases from farmers for $72 a batch. A batch of sugar beets costs $11 to crush in the company’s plant. Two intermediate products, beet fiber and beet juice, emerge from the crushing process. The beet fiber can be sold as is for $27 or processed further for $12 to make the end product industrial fiber that is sold for $40. The beet juice can be sold as is for $43 or processed further for $28 to make the end product refined sugar that is sold for $100. Which of the intermediate products should be processed further (PLEASE SHOW YOUR WORK BY USING THE HONORLOCK ON-SCREEN CALCULATOR)?

The U.S. Supreme Court in 1985 made a major ruling regarding the federal Fair Labor Standards Act (FLSA)  The ruling had significant fiscal implications for state and local governments. The ruling

ABC Company sells a single product for $20 per unit. Last year, the company’s sales revenue was $300,000 and its operating income was $24,000. If fixed expenses totaled $96,000 for the year, the break-even point in unit sales was (PLEASE SHOW YOUR WORK BY USING THE HONORLOCK ON-SCREEN CALCULATOR):

Rosy Scenario (on the revenue side of an operating budget):