Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Chinglish calculates its profit per container as follows (all values in British pounds): repositioning on consolidated after-tax profits and total tax payments? Income Statement (Click

image text in transcribedimage text in transcribed

Chinglish calculates its profit per container as follows (all values in British pounds): repositioning on consolidated after-tax profits and total tax payments? Income Statement (Click on the following icon in order to copy its contents into a spreadsheet.) \begin{tabular}{lcccc} ConstructingTransfer(Sales)PriceperUnit & ChinglishDirk(Britishpounds) & TorringtonEdge(Britishpounds) & Consolidated(Britishpounds) \\ \hline Direct costs & & 10,000 & 16,100 & \\ Overhead & & 4,000 & 1,000 \\ Total costs & & 14,000 & 17,100 \\ Desired markup & & 2,100 & 2,565 \\ Transfer price (sales price) & & 16,100 & 19,665 \end{tabular} Income Statement \begin{tabular}{lcccc} Sales price & & 16,100,000(14,000,000) & 19,665,000(17,100,000) \\ Less total costs & & 2,100,000 & 2,565,000 & \\ Taxable income & & (420,000) & (872,100) & 1,292,100 \\ Less taxes & & 1,680,000 & 1,692,900 & 3,372,900 \\ \hline \end{tabular} Chinglish calculates its profit per container as follows (all values in British pounds): repositioning on consolidated after-tax profits and total tax payments? Income Statement (Click on the following icon in order to copy its contents into a spreadsheet.) \begin{tabular}{lcccc} ConstructingTransfer(Sales)PriceperUnit & ChinglishDirk(Britishpounds) & TorringtonEdge(Britishpounds) & Consolidated(Britishpounds) \\ \hline Direct costs & & 10,000 & 16,100 & \\ Overhead & & 4,000 & 1,000 \\ Total costs & & 14,000 & 17,100 \\ Desired markup & & 2,100 & 2,565 \\ Transfer price (sales price) & & 16,100 & 19,665 \end{tabular} Income Statement \begin{tabular}{lcccc} Sales price & & 16,100,000(14,000,000) & 19,665,000(17,100,000) \\ Less total costs & & 2,100,000 & 2,565,000 & \\ Taxable income & & (420,000) & (872,100) & 1,292,100 \\ Less taxes & & 1,680,000 & 1,692,900 & 3,372,900 \\ \hline \end{tabular}

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Software Reviews And Audits A How To Guide For Project Staff

Authors: Dr David Tuffley

1st Edition

1461130468, 978-1461130468

More Books

Students also viewed these Accounting questions

Question

L A -r- P[N]

Answered: 1 week ago

Question

Challenges Facing Todays Organizations?

Answered: 1 week ago