ny has an omice in Saskatchewan and a manufacturing facility in Yukon. They have the following information related to these operations for the in year: Saskatchewan location: Value of buildings & equipment-$5,100,000 Gross revenues-$3,400,000 Salaries and wages-$1,300,000 Yukon location: Value of buildings & equipment-$10,500,000 Gross revenues-$0,200,000 Salaries and wages-$4,500,000 Based on this information, how much of the company's taxable income will be allocated to Saskatchewan? Choose the correct answer. (Round your answer to two decimal places, X.XX%.) A, 26.98% O B. 28.09% OC. 24.7%

ny has an omice in Saskatchewan and a manufacturing facility in Yukon. They have the following information related to these operations for the in year: Saskatchewan location: Value of buildings & equipment-$5,100,000 Gross revenues-$3,400,000 Salaries and wages-$1,300,000 Yukon location: Value of buildings & equipment-$10,500,000 Gross revenues-$0,200,000 Salaries and wages-$4,500,000 Based on this information, how much of the company's taxable income will be allocated to Saskatchewan? Choose the correct answer. (Round your answer to two decimal places, X.XX%.) A, 26.98% O B. 28.09% OC. 24.7%

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Marks Corporation has two operating departments, Drilling and Grinding, and an office. The three categories of office exApenses are alocated to the tavo opertng cene different allocatlon bases. The following Information is avallable for the current period: Office Expenses Salaries Total Allocation Basis Number of employees 44,000 Depreciation Advertising 21,000 Cost of goods Bold 44,000 Percentage of total sales Department Drilling Grinding Number of employees Sales Cost of goods sold 900 $ 350,000 $ 91,200 2,100 525,000 148,800 Total 3,000 $ 875,000 $ 240,000 The amount of depreciation that should be allocated to Drilling for the current period is: Multiple Choice $7,980. $13,020. $21,000. 8 of 25
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Marks Corporation has two operating departments, Drilling and Grinding, and an office. The three categories of office expenses are allocated to the two departments using different allocation bases. The following information is available for the current period: Office Expenses Total Allocation Basis Salaries $40,000 Number of employees Depreciation Advertising 26,000 Cost of goods sold 60,000 Net sales Item Drilling Grinding Total Number of employees 1,800 2,700 4,500 Net sales $352,000 $528,000 $880,000 Cost of goods sold $110,200 $179,800 $290,000 The amount of depreciation that should be allocated to Grinding for the current period is: Multiple Choice $37,200. $26,000.