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melomori [17]
3 years ago
10

Kathy is 48 years of age and self-employed. During 2018 she reported $538,000 of revenues and $107,600 of expenses relating to h

er self-employment activities. If Kathy has no other retirement accounts in her name, what is the maximum amount she can contribute to an individual 401(k)?
Business
1 answer:
Fynjy0 [20]3 years ago
6 0

Answer:

Contribute to individual 401(k) = $61,000

Explanation:

Given:

Revenue = $538,000

Expenses = $107,600

Find:

Contribute to individual 401(k)

Computation:

Contribute to individual 401(k) = $55,000

Kathy is younger then 50 years so, She have t pay $6,000 more:

So,

Contribute to individual 401(k) = $55,000 + $6,000

Contribute to individual 401(k) = $61,000

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A coffee shop buys 2000 bags of their most popular coffee beans each month. The cost of ordering and receiving shipments is $12
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Solution :

The optimal order quantity, EOQ = $\sqrt{\frac{2 \times \text{demand}\times \text{ordering cost}}{\text{holding cost}}}$

EOQ = $\sqrt{\frac{2 \times 2000 \times 12}{3.6}}$

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The expected number of orders = $\frac{\text{demand}}{EOQ}$

                                                      $=\frac{2000}{115.47}$

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                              = 8.33

The time between the orders = EOQ / daily demand

                                                 $=\frac{115.47}{8.33}$

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        $=(8.33 \times 8)+10$

         = 76.64

The annual holding cost = $\frac{EOQ}{2} \times \text{holding cost}$

                                         $=\frac{115.47}{2} \times 3.6$

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                                           $=\frac{2000}{115.47} \times 12$

                                           = 207.85

So the total inventory cost = annual holding cost + annual ordering cost

                                            = 207.85 + 207.85

                                            = 415.7

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