Pronghorn co. has one temporary difference at the beginning of 2017 of $469,000. the deferred tax liability established for this amount is $140,700, based on a tax rate of 30%. the temporary difference will provide the following taxable amounts: $91,000 in 2018, $197,000 in 2019, and $181,000 in 2020. if a new tax rate for 2020 of 20% is enacted into law at the end of 2017, what is the journal entry necessary in 2017 (if any) to adjust deferred taxes?

Levine inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. direct materials (9 pounds at $1.80 per pound) $16.20 direct labor (6 hours at $14.00 per hour) $84.00 during the month of april, the company manufactures 270 units and incurs the following actual costs. direct materials purchased and used (2,500 pounds) $5,000 direct labor (1,660 hours) $22,908 compute the total, price, and quantity variances for materials and labor.