Allied Corp. has a deferred tax asset balance of $130,000 on December 31, 2020, due to a temporary difference related to a warranty expense accrual that is not deductible for tax purposes. The deferred tax asset balance has increased $26,000 over the prior year ending balance of $104,000. Taxable income for 2020 is $546,000 and the tax rate is 25%. There is a $31,200 beginning balance in the valuation allowance. Required:
a. Record the income tax journal entry on December 31, 2020, assuming that it is more likely than not that the deferred tax asset will be realized
b. Record the income tax journal entries on December 31, 2020, assuming that it is more likely than not that only 60% of the deferred tax asset will be realized.

You are the cfo of a u.s. firm whose wholly owned subsidiary in mexico manufactures component parts for your u.s. assembly operations. the subsidiary has been financed by bank borrowings in the united states. one of your analysts told you that the mexican peso is expected to depreciate by 30 percent against the dollar on the foreign exchange markets over the next year. what actions, if any, should you take

Which of the following entries would be made to record the requisition of $12,000 of direct materials and $6,900 of indirect materials? (assume that indirect materials are included in raw materials inventory.) a. manufacturing overhead 18,900 raw materials inventory 18,900 b. wip inventory 12,000 manufacturing overhead 6,900 raw materials inventory 18,900 c. raw materials inventory 18,900 wip inventory 18,900 d. wip inventory 18,900 raw materials inventory 18,900

Acompany has two products: standard and deluxe. the company expects to produce 36,375 standard units and 62,240 deluxe units. it uses activity-based costing and has prepared the following analysis showing budgeted cost and cost driver activity for each of its three activity cost pools.budgeted activity of cost driver activity cost pool budgeted cost standard deluxe activity 1 $ 93,000 2,500 5,250 activity 2 $ 92,000 4,500 5,500 activity 3 $ 87,000 3,000 2,800 what is the overhead cost per unit for the standard units? what is the overhead cost per unit for the deluxe units? (round activity rate and cost per unit answers to 2 decimal places.)activity expected costs expected activity driver activity rate1 93,000 2 92,000 3 87,000 standard activity activity driver activity rate allocated costs1 2 3