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2 years ago

If Susie earns $796,000 in taxable income and files as head of household for year 2021, what is Susie's average tax rate

Business

1 answer:

aniked [119]2 years ago

8 0

32.12 % is Susie's average tax rate.

Calculations for the above answer

Tax rate Slabs Income Taxable at slab Income Taxable at next slabs Tax($)

10% $0 to $14200 14200 751800 1420

12% $14201 to $54200 40000 711800 4800

22% $54201n to $86350 32150 679650 7073

24% $86351 to $164900 78550 601100 18852

32% $164901 to $209400 44500 556600 14240

35% $29401 to $ 523600 314200 242400 109970

37% $523601 or more 242400 0 89688

Total Tax(A) 246043

Total Income(B) 796000

Average Tax rate {(a/b)x 100} 32.12 .

The simplest way to calculate your effective tax rate is to divide your income tax expense by your pre-tax profit (or income). Tax expense is usually the last item before the bottom line (net income) of the income statement.

This difference is due to the 12 months of inflation from September 2020 to August 2021 used to calculate the adjustment.

Learn more about Tax rates here: brainly.com/question/9437038

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Contribution Margin Ratio, Variable Cost Ratio, Break-Even Sales Revenue The controller of Ashton Company prepared the following

iren [92.7K]

Answer:

1. 73 %

2. 27 %

3. $60,000

4. Ways to increase projected operating income without increasing total sales revenue :

Reduce the variable costs per unit
Reduce fixed overheads

Explanation:

Contribution Margin Ratio = Contribution / Sales × 100

Where,

Contribution = Sales - Variable Costs

= $88,000 - $23,760

= $64,240

Then,

Contribution Margin Ratio = $64,240/ $88,000 × 100

= 73 %

Variable Cost Ratio = Variable Cost / Sales × 100

= $23,760 / $88,000 × 100

= 27 %

Break-even sales revenue = Fixed Costs ÷ Contribution Margin Ratio

= $43,800 ÷ 0.73

= $60,000

<u>Ways to increase projected operating income without increasing total sales revenue :</u>

Reduce the variable costs per unit
Reduce fixed overheads

7 0

3 years ago

qzuilet which of the following best describes upics? a. upics are federally funded. b. upics are paid by grant monies. c. upics

ioda

Private businesses are employed by CMS as the Unified Program Integrity Contractor (UPIC).

<h3>What is a UPICs used for?</h3>

Investigating instances of alleged fraud, waste, and abuse in Medicare or Medicaid claims is UPIC's main objective. They conduct early and prompt investigations and act right away to prevent the improper payment of funds from the Medicare Trust Fund.

<h3>What role do Medicaid Integrity Contractors (MICs) play in society?</h3>

CMS has agreements with organizations called Audit Medicaid Integrity Contractors (Audit MICs) to carry out post-payment audits of Medicaid providers. The primary objective of provider audits is to find overpayments and ultimately reduce the payment of erroneous Medicaid claims.

To know more about Centers for Medicare and Medicaid Services visit: brainly.com/question/14293469

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4 0

1 year ago

A teacher instituted a new reading program at school. after 10 weeks in the program, it was found that the mean reading speed o

Bess [88]

Answer:

0.0139

Explanation:

Given that:

The number of sample (n) = 21

The sample distribution has mean (μ) and a standard deviation of σ/√n

The z score is given as (x - mean)/ standard deviation

x = 94.8 wpm, let us assume that σ = 10 and μ = 90

Therefore: z = (x - μ) / (σ/√n) = (94.8 - 90) / (10/√21) = 2.2

To calculate the probability using Z table:

P(X>94.8) = P(Z>94.8) = 1 - P(Z<94.8) = 1 - 0.9861 = 0.0139

The probability is low that is less than 0.05, the program is more effective than the old one.

5 0

3 years ago

Read 2 more answers

All of the following statements related to preparation of the statement of cash flows under U.S. GAAP and IFRS are true except:

iVinArrow [24]

Answer: IFRS permits the classification of cash outflows for interest expense under operating or financing based on which one results in better cash flows from operating activities.

Explanation: The cash flow statement includes only inflows and outflows of cash and cash equivalents; it excludes transactions that do not directly affect cash receipts and payments. These non-cash transactions include depreciation or write-offs on bad debts or credit losses to name a few.

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3 years ago

Public expenditure on the manufacturing sector will boost economic growth in the industrial revolution 4.0 eras. Justify your an

Ostrovityanka [42]

Answer:

Industry 4.0 is used interchangeably with the fourth industrial revolution and represents a new stage in the organization and control of the industrial value chain.

Industry 4.0 has been defined as “a name for the current trend of automation and data exchange in manufacturing technologies, including cyber-physical systems, the Internet of things, cloud computing and cognitive computing and creating the smart factory”.

8 0

3 years ago