Hey Friend.
C) is the answer. Transaction deposit is an asset since it increases what you already have, while reserves and loans decrease what you have, because you'll have to take out.
If you have a lot of deductions compared to a typical W2 tax payer you may itemize instead of standard deduct. An accountant can help determine which is best to file. In most cases, those who itemize have a mortgage, extra medical expenses that exceed a percentage of your adjusted gross income, W9 (contractor/work from home positions), have paid large interest and/or have donation a lot throughout the year.
Profit = Sales - Expenses
<span>Expenses = Fixed + Variable </span>
<span>No. of units sold = $550,000 / 55 = 10,000 </span>
<span>Variable expenses = $44 x 10,000 = $440,000 </span>
<span>Expenses = 20,000 + 440,000 = $ 460,000 </span>
<span>So, profit = 550,000 - 460,000 = $ 90,000.</span>
Answer:
A. the company's gross margin is $100,000, while its contribution margin is $60,000.
Explanation:
Under the gross margin, the net income would be
= Sales - cost of goods sold
= $300,000 - $200,000
= $100,000
Under the contribution margin, the net income would be
= Sales - cost of goods sold - variable operating expenses
= $300,000 - $200,000 - $40,000
= $60,000
Under the gross margin, no operating expenses would be considered whereas for contribution margin, only the variable operating expenses is considered
