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Cathy, the manager of Cathy's Catering, Inc., uses activity-based costing to evaluate the costs of her catered parties. Each party is limited to 20 guests and needs 4 people to serve and clean up. Cathy offers two types of parties, an afternoon picnic and an evening formal dinner. The breakdown of the costs given: Activities (and cost drivers) Afternoon Picnic Formal Dinner Advertising (parties) $ 89 per party $ 89 per party Planning (parties) $ 64 per party $ 146 per party Renting equipment $ 47 per party plus $ 70 per party plus (parties, guests) $ 14 per guest $ 20 per guest Obtaining insurance (parties) $ 240 per party $ 360 per party Serving (parties, servers) $ 57 per server per party $ 76 per server per party Preparing food (guests) $ 16 per guest $ 32 per guest Per party costs do not vary with the number of guests. Required: (a) Evaluate the cost of a 20-guest afternoon picnic. Afternoon picnic $ (b) Evaluate the cost of a 20-guest evening formal dinner. Evening formal dinner $ (c) How much should Cathy charge for every guest for each type of party if she needs to cover her costs?
Give the journal entries made by Sara Lee to record the 2009 income tax expense (net) of $224. Remember to assign the expense and benefit between current and deferred.
A. Drew and Meg, ages 40 and 41, respectively, are married and file a joint return. Inaddition to four dependent children, they have AGI of $65,000 and itemized deduc-tions of $15,000.
How much income is each beneficiary entitled to receive - what is the trust's DNI and what is the trust's taxable income?
Prepare a 3-5 page paper comparing and contrasting state and Federal tax research. Examine the different constitutionality challenges with regard to Federal and state taxes.
Find the tax impact on the CEO and determine what is the tax impact on the corporation, please be very specific in your answer.
Is franchising a good idea for Wong if franchisees want a minimum monthly operating income of $6,000 and Wong believes that most locations could generate $26,000 in monthly sales?
Using your tax research memo template developed in Module One, prepare a tax research memorandum to problem
Compute Kit Inc.'s general rate income pool (GRIP) account balance as of December 31, 2011.
Explain and calculate FBT liability. What is the after - tax cost to the employer of providing the benefits and what is his capital gain and in what year is it assessed? Is there a CGT event?
What recommendation will you make to Mary in order for her to be able to withdraw the $100,000 without future tax consequences?
Taking the above Learning Outcomes into consideration, your assignment is to prepare a report which should be no longer than 1,000 words.
Discuss- A tax on cigarettes is a good way of raising tax revenue for the government
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