Answer: a. $52,300 b. $12,200 c. 0 d. $40,100
Explanation:
a. Given according to the IRS regulations of loss on investment (up to $3000)
Adjusted gross income: Salary received + Interest income received + dividend income received - loss on investment based on IRS regulations
= 53300 + 1600 + 400 - 3000
= $52,300 (Adjusted gross income)
b. Based on 2019 IRS increased filing status for Single individuals, The Standard deduction amount is $12,200
c. According to the 2019 IRS announcements, There are no personal exemption amount. This was set to zero (0) under the Tax Cuts and Jobs Act.
d. Going by the simple formula of:
Taxable Income = Adjusted Gross Income - Exemption - Standard Deduction
= 52300 - 0 - 12200
= $40,100 (Taxable Income)
I hope this helps.
Dennis could be suffering from a dissociative fugue. It is one of the many kinds of amnesia wherein an individual would not have the ability to recall someone's past and suddenly forming another identity from the mind. This happened to Dennis when he told the policemen that his name was Michael Hart.
Answer:
B) $56,750
Explanation:
Direct materials cost $27,500
Direct labor cost$13,000
As manufacturing overhead rate is based on a percentage of direct labor cost so dividing the manufacturing overheads by direct labor costs we get =$1,050,000,/$840,000= 1.25
Multiplying this rate with the actual overheads we get 1.25* 13000 = $16250
The total job cost would be = Direct materials cost+Direct labor cost + budgeted Overheads = $27,500
+$13,000+$16250= $56,750
Answer:
502
Explanation:
In this question, we are asked to calculate the number of additional shoes to be sold to cover a $25,000 investment in advertising whilst also maintaining current contribution to the company.
Firstly, we calculate the sum of variable expenses;
This is the sum of shoe boxes and shoes = 1,000 + 250,000 = 251,000
Now, we proceed to get the contribution margin.
Mathematically, contribution margin = Revenue - Total variable expenses = 500,000 - 249,000 = 251,000
The contribution margin per part can be calculated as ;
Contribution Margin/currently selling pairs of shoes= 249,000/5000 = 49.8
The additional parts to be sold = Investment in advertising/contribution margin per shoes
= 25,000/49.8
= 502
Restrictive endorsement places a limitation on the use of a cheque for the payee. In this case the payee has to only deposit the money into the account
