Question: There are three production stages required before a pair of skis produced by Fjord Fabrication can be sold at retail for NOK2,300. Fill in the

There are three production stages required before a pair of skis produced by Fjord Fabrication can be sold at retail for NOK2,300. Fill in the following table to show the value added at each stage in the production process and the incremental and total VAT. The Norwegian VAT rate is 25percent.

Production Stage Selling Price NOK 450 NOK1,900 NOK2,300 Value Added Incremental VAT 3 Total VAT

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