24% will be the tax bracket for her. The marginal tax rate is the tax rate you pay on every dollar of additional income. Individuals' federal marginal tax rate in the United States rises as their income rises. As one's income rises, the last dollar earned is taxed at a higher rate than the first.
This method of taxation, known as progressive taxation, aims to tax individuals based on their earnings, with low-income earners paying a lower rate than higher-income earners. Under a marginal tax rate, taxpayers are typically divided into tax brackets or ranges, which determine the rate applied to the tax filer's taxable income.
However, how much of an individual's income is taxed depends on more factors than just their marginal tax bracket. Instead, income taxes are calculated progressively, with a range of income levels subject to a certain rate for each bracket.
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Answer:
$226,000
Explanation:
The preparation of the Cash Flows from Operating Activities—Indirect Method is shown below:
Cash flow from Operating activities - Indirect method
Net income $240,000
Adjustment made:
Less: Increase in accounts receivable - $9000 ($41,500 -$32,500)
Less: Decrease in accounts payable -$5,000 ($54,000 - $59,000)
Total of Adjustments - $14,000
Net Cash flow from Operating activities $226,000
Answer:
Option (A) is correct.
Explanation:
Given that,
Direct Materials = $386,100
Direct Labor = $200,100
Factory Overhead = $220,300 and,
Selling Expenses = $39,500
Conversion costs = Direct labor + factory overhead
= $200,100 + $220,300
= $420,400
Therefore, the conversion costs for the company is $420,400.
Answer:
Federal Funds Rate:
d. rises when the quantity of funds demanded by banks seeking additional reserves exceeds the quantity supplied by banks with excess reserves.
Explanation:
Federal funds rate is the target interest rate set by the FOMC (Federal Open Market Committee) at which commercial banks with deficit reserves borrow and banks with surplus reserves lend their excess reserves to each other overnight without collateral. The rates are set eight times a year in line with prevailing economic situations. The rates are lowered to boost economic growth and reduce unemployment by increasing money supply. They are increased to check inflation.
