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Kaylis [27]
3 years ago
10

Kaelyn's mother, Judy, looks after Kaelyn's four-year-old twins so Kaelyn can go to work (she drops off and picks up the twins f

rom Judy's home every day). Since Judy is a relative, Kaelyn made sure, for tax purposes, to pay her mother the going rate for child care ($6,310 for the year). What is the amount of Kaelyn's child and dependent care credit if her AGI for the year was $36,100? (Exhibit 8-9)
Business
1 answer:
In-s [12.5K]3 years ago
8 0

Answer:

$1,440

Explanation:

Judy is not a dependent relative of Kaelyn, so the expenditures are qualified up to $6,000 (for two qualifying persons). The applicable percentage is 24%. So, the allowable credit = ($6,000 × 24%) = $1,440

You might be interested in
If a company is considering the purchase of a parcel of land that was acquired by the seller for $90,000 is offered for sale at
Lelechka [254]

Answer:

$147,000

Explanation:

According to the historical cost principle, the assets of the company should be recorded at the purchase price or acquisition price in the financial statements

Since in the given situations many values are given with respect to the acquisition done by the seller, for tax turquoises, etc

But it is recorded at the purchase price i.e $147,000

8 0
3 years ago
Which of the following is TRUE regarding the economic order quantity (EOQ) model? A. Demand rate is dependent on order quantity.
Oduvanchick [21]

Answer:

D. Holding cost per unit per year is dependent on the selling price per unit.

Explanation:

The formulas are shown below:

Economic order quantity:

= \sqrt{\frac{2\times \text{Annual demand}\times \text{Ordering cost}}{\text{Carrying cost}}}

The number of orders would be equal to

= Annual demand ÷ economic order quantity

The average inventory would equal to

= Economic order quantity ÷ 2

The total cost of ordering cost and carrying cost equals to

Ordering cost = Number of orders × ordering cost per order

Carrying cost = average inventory × carrying cost per unit

If in the question, the carrying cost is given in the percentage than the per unit cost is come after multiplying it with the selling price per unit

5 0
3 years ago
If manufacturing overhead has been underallocated during the period, then which of the following is true?(a) the jobs produced d
Alecsey [184]

Answer:

The correct answer is B: the jobs produced during the period have been under-costed

Explanation:

Giving the following information:

If manufacturing overhead has been under-allocated during the period, then which of the following is true?

(a) the jobs produced during the period have been over-costed

(b) the jobs produced during the period have been under-costed

(c) the jobs produced during the period have been costed correctly

(d) none of the above

When manufacturing overhead has been under-allocated means that the actual costs incurred where superior that the estimated cost for the period.

7 0
3 years ago
Patagonia, a multinational sports apparel company, is planning to launch its extreme weather gear product line in Nepal and the
bagirrra123 [75]

Answer: Create a sales plan that aims to enhance initial sales and market penetration with low prices based on high operational costs.

Explanation:

An emerging market is the economy of acountru that's developing and therefore,.such country is becoming more engaged with the global markets due to its growth and expansion as it grows.

The advise that'll be given to Patagonia to omit from consideration in crafting a strategy to enhance future profits in these two emerging markets is to create a sales plan that aims to enhance initial sales and market penetration with low prices based on high operational costs.

6 0
3 years ago
Valutech Manufacturing uses job order costing for its production of MP3 players. The cost incurred for the current year for the
lyudmila [28]

Answer:

$65 per unit

Explanation:

For computing the cost per unit first we have to determine the cost of goods manufactured which is shown below:

Cost of goods manufactured = Opening work in process + direct material cost + direct labor cost + manufacturing overhead cost - ending work in process

= $10,000 + $12,000 + $6,000 + $4,000 - $6,000

= $26,000

And, there is a production of 400 MP3 players

So, the cost per unit is

= $26,000 ÷ 400 MP3 players

= $65 per unit

8 0
3 years ago
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