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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):

ABC Company produces a part used in the manufacture of one of its products. The unit product cost is $18, computed as follows:   Direct materials $8 Direct labor $4 Variable manufacturing overhead $1 Fixed manufacturing overhead $5 Unit product cost $18   An outside supplier has offered to provide the annual requirement of 4,000 of the parts for only $14 each. The company estimates that 60% of the fixed manufacturing overhead cost above could be eliminated if the parts are purchased from the outside supplier. Based on these data, the financial advantage (disadvantage) of purchasing the parts from the outside supplier would be (PLEASE SHOW YOUR WORK BY USING THE HONORLOCK ON-SCREEN CALCULATOR):

A Contractor is using a wheeled loader with the bucket size of 2.5 CY to carry the moist loam. The density of moist loam is 2,200 lb/LCY, and the fill factor is 1.05. The static tipping load of the loader is 15,600 lb. The fixed travel time is 0.8 min. The average speed for hauling and return is 3 mph and 6 mph, respectively. The travel distance is 450 ft. The operation efficiency is 45 min/hour. The contractor estimates hourly cost for the wheeled loader; the ownership cost is $28/hour, the operating cost is $30/hour, and the operator wage is $29.5/hour. What is the maximum capacity per cycle? What is the loader’s productivity? What is the estimated unit cost in $/LCY of the loader to work on the job?

You are working for a contractor that has a contract for construction of a new hospital. As part of the project, you need to remove the soil for the construction of the basement and foundation for a parking garage. From the project plans, you know that 5,000 bank cubic yards must be excavated and that 1,200 compacted cubic yards will be required to backfill the completed foundation. You plan to stockpile the soil needed for backfill on site and haul the excess soil to a disposal site. The average haul distance is estimated to be 500 ft. with an 8% average uphill grade. The contractor had the soil tested and determined that the bank density is 2,900 pounds per cubic yard, the loose density is 2,250 pounds per cubic yard, and the compacted density is 3,150 pounds per cubic yard. What is the percent swell for the soil? What is the percent shrinkage for the soil? How many bank cubic yards should be stockpiled to be used for backfill operation? How many loose cubic yards of soil should be hauled away to the disposal site?    

The Qur’an is formed by messages Muhammad believed he received from God through an angel.

Confucianism emphasizes the ethical meaning of human relationships, while Taoism turned away from society and contemplates nature.