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Nesterboy [21]
2 years ago
7

An individual with $32.000 in taxable income pays $970 for the 10% tax bracket, and $2,676 for the 12% bracket. What is the over

all federal income tax payment for this individual?
Business
1 answer:
trapecia [35]2 years ago
5 0

The overall federal income tax payment of this individual is $970+$2676= $3646.

<h3>What is federal Income tax?</h3>

The federal government and the majority of states in the US impose income taxes. Applying a tax rate to taxable income, which is the entire income less permissible deductions, yields the income taxes, which may arise as income rises.

So the taxable income of the individual will be $3646.

Learn more about federal income tax:

brainly.com/question/25325875

#SPJ1

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JudyJudy hires students at ​$5050 a day to mow lawnsmow lawns. SheShe leases equipment that costs ​$8080 a day. Suppose that Jud
Vsevolod [243]

Answer:

D. slopes upward

Explanation:

if Judy experiences diseconomies of scale this means the return for adding further factor into the economy decreases. Therefore the marginal cost increase more than the marginal revenue from the added factor.

His average cost curve will shift upwards. Each time Judy adds equipment and workers his cost increase more than the previous worker or equipment.

<u>Resuming:</u>

Producing an additional units is more expensive than the previous unit therefore, the average cost increases through units output.

5 0
3 years ago
Burton Company uses a normal costing system. The company uses direct labor-hours as the cost-allocation base. The following info
densk [106]

Answer:

the allocated direct manufacturing overhead costs of Job 56 is $25

Explanation:

Overheads in manufacturing process are allocated to jobs or products using cost drivers or surrogates.

<em><u>First Step : Determine the Pre-determined Overhead rate</u></em>

Pre-determined Overhead rate = Budgeted Overheads / Budgeted Activity

                                                    = $2,000 / 800

                                                    = $ 2.50 per labor hour

<em><u>Step 2 : Determined the Amount of Overhead allocated to Job 56 based on labor hours utilised</u></em>

Overhead for Job 56 = Pre-determined Overhead rate × Hours Used

                                     = $ 2.50 × 10

                                     = $25

3 0
3 years ago
_________ is the process in which a large number of ideas are generated while evaluation of the ideas is suspended.
e-lub [12.9K]

The answer is e. brainstorming. Brainstorming is a group activity technique, wherein a large number of ideas are created, while the evaluation of these ideas are suspended and will be reviewed later on after making a group agreement or decision. Brainstorming can also be used in terms of solving a problem, by gathering ideas for a specific problem, through the help of the spontaneous ideas given by the group’s members.

7 0
3 years ago
Read 2 more answers
Why would a Roth 401(k) investment plan allow you to invest the most amount of money?
ycow [4]

Answer:

401k

Explanation:

investment plan allow you to invest the most amount of money? ... A Roth 401(k) plan takes money after tax has been removed from gross income, and has a contribution limit, but withdrawal is tax free. A Roth Individual Retirement Account allows you to draw a fixed amount that is not taxed.

3 0
3 years ago
Sebastian purchases two pieces of equipment for $100,000. Appraisals of the equipment indicate that the fair market value of the
Schach [20]

Answer:

$100,000

Explanation:

According to the internal revenue service ''<u>In most situations, the basis of an asset is its cost to you.</u> <u>The cost is the amount you pay for it in cash</u>, debt obligations, and other property or services. Cost includes sales tax and other <u>expenses connected with the purchase</u>.''

Therefore Sebastian's basis in these two assets is unconnected with the fair market value of the assets but with the cost.

Purchased Equipment is always recorded at its acquisition cost or its net book value, that is after deducting the accumulated depreciation . In the scenario we have no depreciation figures, hence the basis is the cost of $100,000

8 0
3 years ago
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