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Yankers Enterprises Pty Ltd sells training course materials to organisations. The materials are imported from a United States-based course developer and on-sold for a profit.
Yankers provides you with the following information for the purposes of preparing its income tax return for the CIY: Sales $790,000Less; Cost of goods soldOpening stock $120,000Plus: purchases $610,000Less: closing stock $150,000 $580,000Gross profit $210,000 Problem 1: What is Yankers Enterprises' assessable income for the current income tax year?
on the basis of raw facts calculate material yield varianceif standard mix was 560 kg before loss it was 800 kg and
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