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Mrrafil [7]
3 years ago
8

Among the costs Kunee Company incurred during the month of August were the following: $15,000 - coolant used in the headquarters

office air-conditioning system; $45,000 - property taxes on factory building; $10,000 - depreciation on trucks used to deliver products to customers; $2,000 - salary paid to a factory quality control inspector.The period costs from the above list total:A) $7,000.B) $25,000.C) $32,000.D) $30,000.
Business
1 answer:
uranmaximum [27]3 years ago
6 0

Answer: Option (B) is correct.

Explanation:

Given that,

Coolant (used in the office air-conditioning system) cost  = $15,000

Property taxes on factory building = $45,000

Depreciation on trucks = $10,000

Salary paid = $2,000

Period cost = Coolant cost + Depreciation on trucks

                   = $15,000 + $10,000

                   = $25,000

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Complete Question:

Jon is a cash-basis taxpayer and has adjusted gross income of $40,000 in 2018. During the year he incurred and paid the following medical expenses.

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Jon

Medical expense that Jon can deduct as itemized deduction:

= $375

Explanation:

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Adjusted gross income = $40,000

Incurred medical expenses:

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