Answer:
a. Total Income=$152,500
Marginal Tax rate = 17.3%
Explanation:
Total Income=Taxable Income+Additional Income = $92,000+$60,500=$152,500
Marginal Tax rate = 17.3%
Answer:
The aggregate budgeted selling expense for the month of February amounts to $20,900
Explanation:
Selling expense budget is the plan which estimate the selling expense which happen in that period or year or month. It is related to the marketing as well as selling the product to customers. And involve advertising expense, commission, delivery cost and signs.
The aggregate budgeted selling expense for the month of February is computed as:
Aggregate budgeted selling expense = Commission + Monthly Salary of Sales manager + Advertising expense
where
Commission is as:
Commission = Sales × 5%
= $318,000 × 5%
= $15,900
Monthly Salary of Sales manager is $3,700
Advertising expense is $1,300
So,
Aggregate budgeted selling expense = $15,900 + $3,700 + $1,300
Aggregate budgeted selling expense = $20,900
If at a given time of the day, the state road 408 is higly congested, then it could be considered to possess the properties of a COMMON PROPERTY GOOD.
There are four types of economic goods, these are: public goods, private goods, common property goods and club good.
Common properties goods are those goods which are characterised by rival consumption and non exclusion of non payers. Rival consumption implies that consumption by a user imposes limitations on what others can consume, but a user can not stop another user from enjoying the good. Common property goods are equally owned by everyone and are not controlled by anyone in particular, thus these goods usually need government intervention.
Answer:
Option (A) is correct.
Explanation:
Given that,
Estimated fixed cost = $288,000
Estimated variable cost = $14 per unit
Units expects to produce and sell = 60,000
Selling price = $20 per unit
We first need to calculate the contribution margin:
Contribution margin per unit:
= Selling price - Variable cost
= $20 - $14
= $6
The break even point in units is the ratio of fixed cost to the contribution margin per unit.
Break-even point in units:
= Fixed cost ÷ Contribution margin per unit
= $288,000 ÷ $6
= 48,000 units
