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chubhunter [2.5K]
3 years ago
14

Which plan offers a tax-free education?

Business
1 answer:
harkovskaia [24]3 years ago
8 0

The 529 plan is the plan that offers a tax-free education

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The June 1 work in process inventory consisted of 5,000 units with $16,000 in materials cost and $12,000 in conversion cost. The
sveticcg [70]

Answer:

Total cost added including beginning inventory

Raw material = $136,000

Overheads = $180,960

Total = $316,960

Explanation:

As provided the opening Work in process units = 5,000 units

Units started during the period = 37,500 questions

Closing work in process = 8,000 units

That means units produced = opening + additions - closing

= 5,000 + 37,500 - 8,000 = 34,500 units

Provided cost of beginning inventory = $16,000 for raw material and $12,000 for overheads

Also it is 100% complete for raw material and 50% complete for overheads

That means raw material per unit = $16,000/5,000 = $3.20

And the overheads 100% = $12,000 \times 2 = $24,000

Overhead per unit = $24,000/5,000 = $4.80

Therefore, cost added during the period

Shall be

Raw material = 100% = 5,000 + 37,500 = 42,500 \times $3.20 = $136,000

Overheads = for 34,500 units 100% and remaining 8,000 = 40%

= 34,500 \times $4.80 + 8,000 \times $4.80 \times 40%

= $165,600 + $15,360

= $180,960

Total = $316,960

7 0
3 years ago
A company has the following selected account balances: Sales $ 250,000 Sales Discounts 1,500 Sales Returns and Allowances 2,300
Ulleksa [173]

Answer:

$121,200

Explanation:

Calculation to determine the gross profit that would appear on a multiple-step income statement

First step is to determine the Net sales

Sales $ 250,000

Less Sales Discounts ($1,500)

Less Sales Returns and Allowances ($2,300 )

Net sales $246,200

Now let determine the Gross profit using this formula

Gross profit=Net sales-Cost of Goods Sold

Let plug in the formula

Gross profit=$246,200-$125,000

Gross profit=$121,200

Therefore the gross profit that would appear on a multiple-step income statement is $121,200

8 0
3 years ago
There are many food carts near Mark’s university. Mark and his friends regularly buy hot dogs from Jeff’s cart. Recently, Andrea
garik1379 [7]
Since there now is a second store, the customers will need to be shared. This means that there are less customers in Jeff's business. Therefore the answer is D: demand for his hotdogs will decrease.
4 0
3 years ago
When is the best time to take an out of state college visit
antiseptic1488 [7]
The best time to do it is during a Holiday or break from school during your junior or senior year so you don’t miss class and you can take your time to truly see the campus
8 0
3 years ago
Read 2 more answers
What is the historical development of accounting​
Vaselesa [24]

Answer:

Accounting history dates back to ancient civilizations in Mesopotamia, Egypt, and Babylon. For example, during the Roman Empire the government had detailed records of their finances. However, modern accounting as a profession has only been around since the early 19th century. The earliest accounting records were found over 7,000 years ago among the ruins of Ancient Mesopotamia. At the time, people relied on accounting to keep a record of crop and herd growth.

Explanation:

4 0
3 years ago
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