Answer:
b. False
Explanation:
The tax payer has incorrectly deducted depreciation expense from his income which resulted in a lower tax being paid. Deductions reduce the tax and lesser income is taxed if deductions are incorrectly classified. The income taxed in this case will be from a lower tax bracket due to wrong deduction of depreciation expense of $5,000 and taxable income was reduced by $5,000 in 2019.
Answer:
New break even in units is 4000 units
Explanation:
The break even point in units is the number of units that must be sold to earn enough total revenue to cover total costs. This is the point where there will be no profit and no loss. The formula for break even in units is,
Break even in units = Fixed costs / Contribution margin per unit
The new contribution margin per unit = 8 * 140% = $11.2
New Fixed costs = 26000 + 18800 = $44800
New Break even in units = 44800 / 11.2 = 4000 units
I know this is a bit late, but I would go with marine biology. All of the other jobs are really hands on.
The correct answer should be d. Identify the problem.
