Answer:
people with lower wealth and income may have less access to credit and pay higher interest rates when they are approved
Explanation:
Answer: $28940
Explanation:
Their QBI deduction for the year goes thus:
Jason's QBI amount will be:
= $173000 × 20%
= $173000 × 0.2
= $34600
Paula's QBI amount will be:
= $28,300× 20%
= ($5660)
Therefore, their combined qualified business income will be:
= $34600 - $5660
= $28940
The overall limitation which is based on th modified taxable income will be:
= $247000 × 20%
= $49400
Since $28940 is lesser than $49400, their QBI deduction for the year is $28940
Answer:
71,100
Explanation:
The calculation of standard direct labor hours is shown below:-
Labor rate variance = (Actual rate - Standard rate) × Actual hours worked
$35,000 = ($497,000 ÷ 70,000 - Standard rate) × 70,000
(7.1 - Standard rate) = $0.5
= $6.6 per hour
= Labor variance efficiency = (70,000 - Standard hour) × $6.6 per hour
= -$7,260 = (70,000 - Standard hour) × $6.6 per hour
Standard hours = $70,000 + 1,100
= 71,100