Answer:
a. Percentage of all taxpayers who file electronically = 63%
b. The number of people who hire an accountant or professional tax preparer is:
= 613
c. The data for the method of preparing the tax return would be considered CATEGORICAL.
Explanation:
Sample of adults aged > 18 = 1,021
Those who planned to file their taxes electronically = 644
This number represents 63% (644/1,021) of the population.
a. We can estimate that percentage of all taxpayers who file electronically as 63%.
b. If 60% of the people surveyed had their tax return prepared by hiring accountants or professional tax preparers, the number of people who did this = 60% of 1,021 = 613
c. Methods for filing tax returns:
Electronic filing
Manual preparation
Online tax service
Software tax program
d. There are four categories here. Data is categorical when the variables take on category or label values. On the other hand, quantitative data take numerical values and can be measured. In this tax filing example, method of tax filing is a categorical variable because a taxpayer can only use one method or be put in one category.
Answer:
Results are below.
Explanation:
Giving the following information:
Units sold: 20,000 or 25,000 is not clear.
Sales revenue $ 150,000
Less: Variable costs 50,000
Contribution margin 100,000
<u>To calculate the unitary contribution margin, we need to use the following formula:</u>
Unitary contribution margin= total contribution margin / number of untis
For 20,000 units:
Unitary contribution margin= 100,000/20,000= $5
For 25,000 units:
Unitary contribution margin= 100,000/25,000= $4
Answer:
Direct labor rate variance= $22,000 unfavorable
Explanation:
Giving the following information:
Standard rate= $8.00 per hour.
Actual= 22,000 hours at a total labor cost of $198,000.
<u>To calculate the direct labor rate variance, we need to use the following formula:</u>
<u></u>
Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity
Actual rate= 198,000/22,000= $9
Direct labor rate variance= (8 - 9)*22,000
Direct labor rate variance= $22,000 unfavorable
