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Answer :
a) Economic Production Quantity = 1,612 monitors
b) Number of setups = 1.4
c) Total cost = $972.12 per year
Explanation :
As per the data given in the question,
a) Economic Production Quantity = sqrt((2 × annual demand × set up cost) ÷ carrying cost × (1 - daily demand ÷ daily production))
=sqrt((2 × 2,250 × $350) ÷ $0.80 × (1 - 35 ÷ 140))
= 1,620.19
= 1,621 monitors
b) Number of setups = Annual demand ÷ Economic production quantity
= 2,250 ÷ 1,621
= 1.3880
= 1.4
c) Formula of Total cost = Carrying cost + Annual setup cost
Carrying cost=(Economic production quantity ÷ 2) × Carrying cost × (1 - daily demand ÷ daily production)
= (1,612 ÷ 2)× $0.80 × (1 -35 ÷ 140)
= $486.30
Annual setup cost = (Annual demand ÷ Economic production quantity) × setup cost
= (2,250 ÷ 1,621) × $350
= $485.812
So, Total cost = $486.30 + $485.812
= $972.12 each year
We simply applied the above formulas
Answer:
Calculate the tax consequence of withdrawal from retirement account.
T and L are 40 years old and decide to withdraw $2,100 from their IRA. They lie in a 35% marginal tax bracket.
Analysis
They are withdrawing some amount from their retirement fund. They have to pay the tax and penalty for early withdrawals from the retirement fund. The withdrawal amount is $2,100 so they have to pay tax on it. The tax rate will be 35% which is their marginal tax bracket.
Calculation of tax consequences if withdrawal amount is $2,100:
Ordinary income tax amount calculates by multiplying the withdrawal amount with the ordinary tax rate.
= $2100 × 35%
= $735
The withdrawal amount attracts the 10% penalty. So, the penalty amount is calculated as follows: Penalty on withdrawn funds calculates by multiplying the withdrawn funds with the percentage of penalty.
= $2100 × 10%
= $210
(NOTE: - T and L have to pay ordinary income tax along with the penalty on their withdrawal because they are withdrawing funds from their IRA before age 59.5.)
Total expenses include the tax amount and penalty charge on withdrawal amount. So, it is calculated as follows:
Total expenses =$735 + $210
Total expenses = $945
Conclusion
Therefore, T and L would incur a tax of $945 on their withdrawal. This $945 is the sum of income tax amount and penalty on withdrawal balance.
The demand for a product or service would likely decrease as price increases as far as the classic downward-sloping demand curve is concerned. In addition, this specific type of demand curve characterises increase of consumer demand as the price significantly falls.
