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3 years ago

Total itemized deductions must be ____ to reduce your tax liability.

1 answer:

8 0

<span>Total itemized deductions must be “greater than the standard deduction” in order to reduce the tax liability.

Itemized deductions are the personal expenditures which can be deducted from the adjusted gross income (AGI) when the taxable income is determined.

Standard deduction is a blanket deduction which depends on the tax-payer’s age, filing status and other factors. It is taken by a taxpayer whose itemized deductions are comparatively small.

To avoid the itemizing deductions, an individual can chose to take the standard deduction, which is a flat amount. </span>

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C-Spec, Inc., is attempting to determine whether an existing machine is capable of milling an engine part that has a key specifi

Sophie [7]

Answer:

0.333

Explanation:

Cpk = Cpl or CPU ( the lower is taken as the cpk)

Where Cpl = (USL - Mean)/ 3 × standard deviation

CPU = (mean - LSL)/3 × standard deviation

Where

The process mean = 5

Tolerance = 0.05

Sample mean = 5.000 inches

Standard deviation (sd) = 0.050 inches

Upper standard limit (USL) = 5 + 0.05 = 5.05

Lower standard limit (LSL) = 5 - 0.05 = 4.95

Cpl = (USL - Mean)/ 3 × standard deviation

= (5.05 - 5)/ 3 × 0.05

= 0.05/0.15

Cpl = 0.333

Cpk = Cpl = 0.333

8 0

3 years ago

It costs $1,200 to produce 50 pounds of a chemical and it costs $2,200 to produce 150 pounds. The chemical sells for $15 per pou

sashaice [31]

Answer:

C(y) = mx + b

y = cost in dollars

x = amount of chemical

m = per unit variable cost

b = fixed cost

Use High low Method to calculate the Variable cost from the total cost given

Variable Cost = ( Highest activity cost - Lowest activity cost ) / ( Highest Number of Units - Lowest Number of Units )

Variable Cost = ( $2,200 - $1,200 ) / ( 150 - 50 )

Variable Cost = $1,000 / 100

Variable Cost = $10 per unit

Fixed Cost = $2,200 - ( 150 x $10 )

Fixed Cost = $2,200 - $1,500

Fixed Cost = $700

Contribution Per Unit = Price - Variable cost

Contribution Per Unit = $15 - $10

Contribution Per Unit = $5

Break-even point = $700 / $5

Break-even point = 140 Pounds

Revenue = 140 x $15 = $2,100

Cost = 140 x 10 = $1,400

8 0

4 years ago

Read 2 more answers

Why do you only pay tax on a certain amount of income

vredina [299]

Answer:

because it means that the more you earn, the more you pay. If your income equals or exceeds these amounts, you will need to file taxes. and that's why you have to pay certain amounts of taxes.

Explanation:

(sorry if you get it wrong)

3 0

3 years ago

In a buying center, __________ have the formal or informal power to select or approve the supplier that receives the contract.

HACTEHA [7]

The <u>deciders </u>have the formal or informal power to select or approve the suppliers that receive the contract in a buying center.

<h3>What are buying centers?</h3>

A buying center is a jointed decision-making group that gathers individuals of an enterprise who engage or involve in the purchasing process for a certain product or a service.

A buying center is the collection of employees or members of any form of organization that are in charge of making big purchases.

Members of the buying center include

Buyers
Decider
User
Initiator
Influencer
Gatekeeper

Here, the <u>decider </u>has the formal or informal power to select or approve the suppliers that receive the contract in a buying center.

Learn more about buying center here:

brainly.com/question/8947097

3 0

3 years ago

At the end of 2020, Pharoah Co. has accounts receivable of $762,200 and an allowance for doubtful accounts of $60,300. On Januar

MakcuM [25]

Answer:

To reverse the transaction, the journal entry is:

Date Account title Debit Credit

March 4, 2021 Accounts receivable - Megan Gray $5,800

Allowance for doubtful accounts $5,800

To record the receipt of cash:

Date Account title Debit Credit

March 4, 2021 Cash $5,800

Accounts receivable - Megan Gray $5,800

5 0

3 years ago