Answer:
a. The withdrawal is fully taxable.
Explanation:
When withdrawing from annuity before the age of 59.5, the amount is taxable as income. There will also be a 10% tax penalty, and there may be a surrender charge by the insurance company.
Lorraine was 53 when the withdrawal was made, so she will be affected by these charges.
It is advisable to not make withdrawals till after the accumulation phase and above 59.5 years old. Then these penalties will not apply, onlybthe income tax on the withdrawal.
Answer:
These two statements are correct:
A. Potential employers may have believed that those with black-sounding names had completed less education.
African Americans on average have less rates of graduation from tertirary education than White Americans.
This situation might lead some employers to develop streotypes about African Americans being less educated, when it is clearly an error, and unfair, to reject a potential employee because of stereotyping instead of making an individualized analysis of his or her abilities.
D. Hiring firms may have believed that those with black-sounding names were more likely to have a criminal conviction.
African Americans on average are incarcerated more often than other ethnic groups in the US. The reasons for this are complex but poverty and racial discrimination are two big factors. This situation causes some employees to develop streotypes, leading to unfair situations as described in the first answer.
Answer:
$357 Unfavorable
Explanation:
Fixed manufacturing overhead volume variance identifies the amount by which actual production differs from budgeted production.
<em>Fixed manufacturing overhead volume variance = Actual Output at Budgeted rate - Budgeted Fixed Overheads</em>
= (5,230 × $5.10) - ($5.10 × 5,300)
= $26,673 - $27,030
= $357 Unfavorable
Answer:
Price elasticity of demand = -0.6667
Explanation:
The price elasticity of demand for a good, using the midpoint method is calculated as:
![E=\frac{(Q2-Q1)/[(Q2+Q1)/2]}{(P2-P1)/[(P2+P1)/2]}](https://tex.z-dn.net/?f=E%3D%5Cfrac%7B%28Q2-Q1%29%2F%5B%28Q2%2BQ1%29%2F2%5D%7D%7B%28P2-P1%29%2F%5B%28P2%2BP1%29%2F2%5D%7D)
Where Q1 is the quantity demanded when the price is P1 and Q2 is the quantity demanded when the price is P2.
Replacing, Q1 by 500, P1 by 50, Q2 by 400 and P2 by 70, we get that the price elasticity of demand for good A is:
![E=\frac{(400-500)/[(400+500)/2]}{(70-50)/[(70+50)/2]}\\E=-0.6667](https://tex.z-dn.net/?f=E%3D%5Cfrac%7B%28400-500%29%2F%5B%28400%2B500%29%2F2%5D%7D%7B%2870-50%29%2F%5B%2870%2B50%29%2F2%5D%7D%5C%5CE%3D-0.6667)
