Answer:
$900,000
Explanation:
The first step is to calculate the percentage completed
= 600,000/2,000,000
= 0.3
The revenue can be calculated as follows
= 5,000,000 × 0.3
= 1,500,000
Therefore the gross profit for 2020 can be calculated as follows
=1,500,000 -600,000
= $900,000
Answer:
c. No more than $15,000 of Satesh's taxable income is taxed at 0%.
Explanation:
Calculation to determine the statements that is correct
First step is to calculate the net long-term capital gain
Net long-term capital gain= ($13,000 0%/15%/20% Long-term capital gain - $5,000 Short-term capital loss)
Net long-term capital gain=$8,000
Now let add the amount of $7,000 which represent qualified dividend income to the 0%/15%/20% net long-term capital gain of the amount of $8,000 which will inturn will give us the amount of $15,000 which therefore means that the amount of $15,000 will be eligible for the 0%/15%/20% ALTERNATIVE TAX RATE.
Therefore the statements that is correct will be:
NO MORE THAN $15,000 of SATESH'S TAXABLE INCOME IS TAXED AT 0%.
Answer:
$8058
Explanation:
10/20/5 stands for a series of discount rates applicable on the list price. It means on total amount, 10% discount is allowed, then post deduction of this 10%, a further 20% on the balance is allowed and then a further 5% is allowed on the balance.
In the given case, single equivalent discount would be calculated as follows,
$25,500 × 10% = $2550
Then, ($25,500 - 2550) × 20%= $4590
Then, ($25,500 - 2550 - 4590) × 5% = $918
Single equivalent discount amount = $2550 + 4590 + 918 = $8058
Answer:
Explanation:
Standard fixed overhead rate=budgeted fixed overhead costs/practical capacity=$400000/32000=$12.50
Fixed overhead spending variance=Actual fixed overhead-Budgeted fixed Overhead=$403400-$400000=$3400
Fixed overhead volume variance=Budgeted fixed overhead-(Standard hours*Standard fixed overhead rate)=400000-(0.80*32000)=$397440
28.1%
Explanation:
Step 1 :
Given that
Cost price for the seller = 290$
Selling price for the seller = 403.1$
Profit = 403.1$ - 290$ = 113.1$
Step 2:
Markup based on Selling price = (Profit/Selling Price)*100
-> (113.1/403.1)*100=28.057%
This can be rounded of to 28.1% (nearest tenth)