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Mademuasel [1]
3 years ago
15

Brian makes ​$27,000 per year. how much can brian expect to contribute to fica taxes? question 7 options: $2,065 $1,674 $391 $2,

664
Business
1 answer:
Sophie [7]3 years ago
5 0
<span>To find the amount of FICA taxes one has to contribute, there are two values needed. First, the Social Security tax rate is 0.062 (6.2%) on the first $127,200 in wages, and then the Medicare tax is 0.0145 (1.45%) on the first $200,000 in income. Adding these two figures gives the total FICA taxes. 6.2 percent of $27,000 is $1,674, and 1.45 percent of $27,000 is $391.50. Adding these two values together (1674 + 391) gives a total of $2,065, or choice (A).</span>
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Which inventory costing method results in the lowest net income during a period of rising inventory​ costs?.
scoray [572]

Due to the greatest cost of goods sold, the LIFO (Last In Last Out) technique displays the lowest net profitability. Compared to the other techniques of inventory valuation, the cost of goods sold for the LIFO approach is the greatest.

<h3>Which technique of inventory valuation will result in the lowest net profit?</h3>

The application of LIFO will produce the lowest net income and the greatest estimated cost of goods sold among the three options during periods of inflation.

<h3>Which method of inventory has the lowest income tax rate?</h3>

LIFO is the inventory cost flow method that yields the lowest income tax liability. A form of inventory cost flow mechanism called last-in-first-out (LIFO) operates under the presumption that the last item acquired will be the first item to be sold.

<h3>In an era of inflation, which inventory method results in the lowest income tax?</h3>

Due to increasing COGS, LIFO leads to reduced net income (and taxes). However, under LIFO during inflation, there are fewer inventory write-downs. Results from average cost are in the middle of FIFO and LIFO.

To Know more about techniques

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7 0
1 year ago
The problem with adopting a fair-return pricing policy for a natural monopoly is that Multiple Choice economic profits will be p
ASHA 777 [7]

Answer:

it is not allocatively efficient

Explanation:

Monopoly is a market condition where one seller has all the market share. This leads to an inefficient market structure, an increase in the prices of goods and services and abnormal profits. A problem with adopting a fair return polity for a natural monopoly is that it is not allocatively efficient. In a monopoly, goods and services are not produced to help the economy or people.

7 0
2 years ago
The crossover point is that production quantity where: _________
Vanyuwa [196]

The crossover point is that production quantity where total costs for one process equal total costs for another process. Hence, option D is correct.

<h3>What is crossover point?</h3>

Financial independence is secured when investment income exceeds regular income. In financial jargon, this is known as the "cross over point."

When the production expenses for one product are the same as those for another product, there is an added benefit to selling any product because the cost is the same and the income will be higher from each unit, independent of the number of units sold.

Thus, option D is correct.

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All options are missing firm the question-

a. variable costs of one process equal the variable costs of another process.

b. fixed costs of a process are equal to its variable costs.

c. total costs equal total revenues for a process.

d. total costs for one process equal total costs for another process.

e. the process no longer loses money.

4 0
2 years ago
Suppose the following information is available for Callaway Golf Company for the years 2022 and 2021. (Dollars are in thousands,
MrRissso [65]

Answer:

                                                                     2022         2021

EPS                                                                 $1.12         $0.99

Explanation:

EPS = NET INCOME / no of shares outstanding

       = $75801000/68000000 =1.12 (2022)

       = $68855000/ 69820000= 0.99 (2021)

3 0
3 years ago
To prevent loss of work on the computer, it is essential to:
MA_775_DIABLO [31]

Answer: Its D. Save your document Frequently

Explanation: Hoped i helped!

4 0
3 years ago
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