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3 years ago

Steve goes to Tri-State University and pays $40,000 in tuition. Steve works to pay for his schooling and has an AGI of $37,000.

Business

1 answer:

Lemur [1.5K]3 years ago

6 0

Answer:

His American Opportunity tax credit is $2,500.

Explanation:

A taxpayer who has a modified adjusted gross income of $80,000 or less can claim the credit for the qualified expenses of an eligible student.

Taxpayers will receive a tax credit based on 100% of the first $2,000, plus 25% of the next $2,000 that is paid during the taxable year for tuition, fees and course materials and also, 40% of the credit (up to $1,000) is refundable.

Therefore, His American Opportunity tax credit is $2,500.

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Zook Manufacturing's total six-month sales were $85 million, with $25.5

german

Explanation:

85 ÷ 25.5 = 0.3

0.3 × 100 = 30%

3 0

3 years ago

Process of tracking customer contacts and providing the customer with a price quote is

SashulF [63]

The correct answer is letter C. Pre-Sales

Pre-Sales is carried out before a producer managed to acquire customers, sometimes even before the products are being launch.

Usually customers get a significant amount of discount if they bought the product through pre-sales process, but they have to wait a little bit long before they got the products

4 0

3 years ago

Glassworks Inc. produces two types of glass shelving, rounded edge and squared edge, on the same production line. For the curren

jenyasd209 [6]

Answer:

Overhead Cost Category (Activity Cost Pool) Cost

Supervision $2,160

Depreciation of machinery $28,840

Assembly line preparation $23,000

Total overhead $54,000

Supervision

Direct labor cost ($) $6,200 $11,800 $18,000

Depreciation of machinery

Machine hours 400 hours 800 hours 1,200 hours

Assembly line preparation Setups (number)

32 times 93 times 125 times

overhead costs assigned to Rounded Edge

supervision = $2,160 x ($6,200 / $18,000) = $744

depreciation = $28,840 x (400 / 1,200) = $9,613

assembly line preparation = $23,000 x (32/125) = $5,888

total overhead costs = $16,245

overhead costs assigned to Squared Edge

total overhead costs = $54,000 - $16,245 = $37,755

total costs assigned to Rounded Edge

materials $9,500

direct labor $6,200

overhead $16,245

total $31,945

cost per foot = $31,945 / 10,500 = $3.0424 per foot

total costs assigned to Squared Edge

materials $21,600

direct labor $11,800

overhead $37,755

total $71,155

cost per foot = $71,155 / 14,000 = $5.0825 per foot

3) The average cost per foot of Rounded Edge decreased because lower overhead costs were allocated to their production.

The average cost per foot of Squared Edge increased because higher overhead costs were allocated to their production.

4 0

4 years ago

Assume real per capita GDP in West Swimsuit is $10,000 while in East Quippanova it is $2,500. The annual growth rate in West Swi

Alex787 [66]

Answer:

correct option is B. about 30 years

Explanation:

given data

real per capita GDP west = $10,000

annual growth rate = 2.33%

real per capita GDP east = $2,500

annual growth rate = 7%

to find out

How many years will it take for East to catch up GDP of West

solution

we know here that future value is equal to real GDP of west after time will be

future value = real per capita GDP west × $rate^{t}$

future value = 10000 × $(1+0.0233)^{t}$ .....1

and

future value = real per capita GDP east × $rate^{t}$

future value = 2500 × $(1+0.07)^{t}$ .....2

compare equation 1 and 2

10000 × $(1+0.0233)^{t}$ = 2500 × $(1+0.07)^{t}$

4 $(1.0233)^{t}$ = $(1.07)^{t}$

t = about 30 years

so correct option is B. about 30 years

5 0

3 years ago

Suppose that in a certain community, 40% of the residents would answer "yes" to the question, "do you know the names of at least

juin [17]

Answer:

The proportion of people in your sample whose response is yes=40 people

Explanation:

Step 1: Determine the statistical proportion that will say yes

Proportion=40%=40/100=0.4

Step 2: Determine the proportion in the sample that will say yes

The proportion in the sample can be expressed as;

P=S×Z

where;

P=proportion in the sample

S=statistical proportion

Z=sample size

In our case;

P=unknown to be determined

S=40%=40/100=0.4

Z=100

replacing;

Proportion in the sample=0.4×100=40

The proportion of people in your sample whose response is yes=40 people

7 0

3 years ago