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Lady bird [3.3K]
3 years ago
12

Lara uses the standard mileage method for determining auto expenses. During 2019, she used her car as follows: 9,000 miles for b

usiness, 2,000 miles for personal use, 2,500 miles for a move to a new job, 1,000 miles for charitable purposes, and 500 miles for medical visits. Presuming that all the mileage expenses are allowable (i.e., not subject to percentage limitations), what is Lara's deduction for: a. Business? b. Charitable? c. Medical?
Business
1 answer:
Scorpion4ik [409]3 years ago
4 0

Answer:

The answers are:

A) $5,220

B) $140

C) $100

Explanation:

The IRS mileage deduction rate for 2019 (Notice 2019-02):

  • 58 cents per mile for business miles driven
  • 20 cents per mile driven for medical or moving purposes
  • 14 cents per mile driven in service of charitable organizations

A) Business mileage deductions:

9,000 miles x $0.58 per mile = $5,220

B) Charitable mileage deductions:

1,000 miles x $0.14 per mile = $140

C) Medical mileage deductions:

500 miles x $0.20 per mile = $100

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Answer:

$224,000

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Contribution margin = Selling price - Variable cost

= $320 - $76.8

= $243.2

Contribution margin ratio = Contribution margin / Sales

= $243.2 / $320

= $0.76 × 100

= 76%

Break even point = Fixed cost / Contribution margin ratio

= $170,240 / 76%

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3 years ago
The marketing and administrative expense budget of Frazier Corporation is based on budgeted unit sales, which are 5,500 units fo
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Answer: b. $106,700

Explanation:

The marketing and administrative expense budget is based on budgeted unit sales, which are 5,500 units for June.

The variable marketing and administrative expense is $1.00 per unit. Which is 5,500 units x $1.00 = $5,500.

The budgeted fixed marketing and administrative expense is $101,200.

To get the cash disbursements for marketing and administrative expenses on the June marketing and administrative expense budget should be Variable costs plus fixed costs.

= $5,500 + $101,200

= $106, 700

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<h3>What is a Delphi technique ?</h3>

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Therefore, Nordstrom managers as using Delphi technique.

Learn more about  Delphi technique at;

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