Answer:
Total expending 21,320
Explanation:
Assuming the administrative expense are also paid on cash during the period
1,300 units x $4.20 = 5,460 Variable expending
19,240 fixed cost - 3,380 depreciation (non-monetary) = 15,860 Fixed expending
Total expending 5,460 + 15,860 = 21,320
<u>Remember:</u>
Depreciation and amortization are non-monetary term, they don't involve a cash disbursement.
Answer:
$250,000 and $500,000
Explanation:
According to the tax laws there is annual limit on Loss deductions relating the amount of business loss that can be deducted in a year.
The law states that single or individual tax payers can deduct nothing more than $250,000 while married taxpayers who are filing jointly can deduct up to $500,000 per year of their business losses.
Therefore, if Jahlil is single the amount of partnership loss he can deduct is $250,000 but if he is married filing jointly, he can deduct $500,000
The IRS says that you can destroy them after three years. However, if you owe taxes, it is better to keep them up to 10 years.
Answer:
what is the question lol? I could probably help you out !
Answer:
The contribution margin statement is found below with a contribution margin of $149,800 and operating income of $145100
Explanation:
Contribution Margin Statement
Sales revenue ($720*700) $504000
Variable costs:
Cost of generators($470*700) ($329000)
Commission(5%*$504000) <u> ($25200)</u>
Contribution margin $149,800
Fixed costs
Rent ($3000)
Additional commission <u> ($1,700)</u>
Operating income $145100
Cost of rent is fixed as it is not depended on the quantity of generators sold.
Additional commission is fixed amount,so it is a fixed cost, while costs of buying generators as well as the commission of 5% are both variable costs.
