Answer: $57,455.395
Explanation:
Given that,
Fixed assets purchased = $387,950
MACRS rates are as follows:
Year 1 = 0.3333
Year 2 = 0.4445
Year 3 = 0.1481
Year 4 = 0.0741
Depreciation Expense in Year 3:
= Initial Value or Purchase Price of equipment × MACRS rate for Year 3
= $387,950 × 0.1481
= $57,455.395
Answer:
See below
Explanation:
1. Classify each of the products as period or product cost .
Direct materials - Product cost
Direct labor - Product cost
Manufacturing overhead - Product cost
Selling expense - Period cost
2. The total product cost for last month is calculated as;
= Direct materials + Direct labor + Manufacturing overhead
= $8,000 + $3,100 + $2,500
= $13,600
Therefore, total product cost for last month is $13,600
Answer: $16,614.78
Explanation:
As you are making a constant deposit every year beginning immediately, this is an Annuity due.
The value in 3 years will be:
= Amount deposited * (1 + i) * (( 1 + i) ^n - 1) / i
= 5,000 * (1 + 5.2%) * (( 1 + 5.2%)³ - 1) / 5.2%
= $16,614.78304
= $16,614.78
Answer:
A. $1,300 "for AGI.
Explanation:
The computation of the deductible amount is shown below:
= Air fare to repair investment rental property + 50% × (Meals + tickets to a football game with hospital administrators)
= $1,000 + 50% × ($500 + $100)
= $1,000 + $300
= $1,300
For meals and tickets, 50% deduction is applicable whereas for the air fair full deduction is applicable
And, for investment in seminar no deduction is allowed
