Suppose a C corporation is equally likely to earn $2 million this year or lose $3 million. The firm faces a tax rate of 40% on each dollar of taxable income, and pays no taxes on losses. In this simple I-period scenario, ignore the carryback and carryforward rules. The firm's expected taxable income is thus a loss of $500,000, calculated as .50(-$3) .50($2). What is the firm's expected marginal tax rate

Turrubiates corporation makes a product that uses a material with the following standards standard quantity 8.0 liters per unit standard price $2.50 per liter standard cost $20.00 per unit the company budgeted for production of 3,800 units in april, but actual production was 3,900 units. the company used 32,000 liters of direct material to produce this output. the company purchased 20,100 liters of the direct material at $2.6 per liter. the direct materials purchases variance is computed when the materials are purchased. the materials quantity variance for april is: