Answer:
$57,000
Explanation:
Net Income reported = $300,000
W-2 Wages = $120,000
Assets with an adjusted basis = $75,000
Taxable income before QBI deduction = $285,000
Total taxable income from all source deduction(including standard deduction) = $1,200 for singles & $24,000 for married filling jointly
<u>Calculation of QBI deduction for 2020</u>
The maximum possible pass through deduction = 20% * $285,000 = $57,000
Hence, the income is not over $415,000. So he doesnt qualify for the W-2 wages deduction.
Answer:
The highest acceptable manufacturing cost for which Sid's would be willing to produce the cover is $19.60
Explanation:
The computation of the highest acceptable manufacturing cost is shown below:
We know that the market priced at $24.50 and the operating profit is 25% of the cost, we assume the cost is 100 and the selling price equals to
= Cost + operating profit
= 100 + 25% × cost price
= 125
The market price is given for selling price but we have to compute for the cost price
So, the calculation would be
= $24.50 × 100 ÷ 125
= $19.60
Answer:
the business cycle peak
Explanation:
Based on the information provided it can be said that it seems that the economy is in the part of the business cycle known as the peak. This is when aspects of the economy are reaching an all time high and begin to slow down. This continues until they eventually level off and afterwards begin their descent.
<span>(600-500)/500 = 20%
If you want this done in a different way, just please don't hesitate to ask <3
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Answer:
value of this company's inventory at the lower of cost or market is $6,900
Explanation:
given data
selling price = $30 per unit
selling price fall = $25 per unit
current inventory consists = 300 units
purchased = $26 per unit
Replacement cost fall = $23 per unit
solution
As we know Under Cost or Market Price here lower price is Net realizable value is
lower price is Net realizable value = $23
so that value of company's inventory at the lower of cost will be
value of company's inventory = lower price is Net realizable value × Units in the inventory .....................1
put here value and we get
value of company's inventory = $23 × 300
value of company's inventory = $6,900
