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Crazy boy [7]
3 years ago
8

Suppose the tax rate on the first​ $10,000 income is 0​ percent; 10 percent on the next​ $20,000; 20 percent on the next​ $20,00

0; 30 percent on the next​ $30,000; and 40 percent on any income over​ $80,000. Family A has income of​ $40,000 and Family B has income of​ $100,000. What is the marginal and average tax rate for each​ family?
Business
1 answer:
Gre4nikov [31]3 years ago
8 0

Answer: Mrginal tax rate family A = 16.67%, Family B = 13%

Explanation:

Family A income is $30000

Marginal Tax Rate = Total Change in taxes/income

taxes paid = 10000 x 0% + 20000 x 20% + 10000 x 30%

taxes paid = 0 + 2000 + 3000 = 5000

Marginal Tax Rate = 5000/30000 = 0.166666 = 16.67

Family B income is $100000

taxes paid = 10000 x 0% + 20000 x 20% + 10000 x 30% + *20000 x 40%

taxes paid = 0 + 2000 + 3000 + 8000 = 13000

Marginal Tax Rate = 13000/100000 = 13%

*100000 exceeds 80000 by 20000

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3 years ago
Why did a division of labor occur when people started to produce a surplus of food
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Michael's Machine Shop reports the following information for the quarter.
Mandarinka [93]

Answer:

a. $26

b. $23

c. $34

d. $29

e. $21

f.  $11

g. $14

h. $11

Explanation:

a. Variable cost per unit.

Variable cost per unit = Variable Manufacturing Costs + Variable Non - Manufacturing Costs

                                    = $12 + $9 + $2 + $3

                                    = $26

b. Variable production cost per unit.

Variable production cost per unit = Variable Manufacturing Cost

                                                       = $12 + $9 + $2

                                                       = $23

c. Full cost per unit.

Full cost per unit = Manufacturing and Non - Manufacturing (Variable and Fixed)

                            = $12 + $9 + $2 + $3 + $47,500/23,750 units + $142,500/23,750 units

                            = $12 + $9 + $2 + $3 + $2 + $6

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d. Full absorption cost per unit.

Full absorption cost per unit = Variable Manufacturing Costs + Fixed Manufacturing Costs

                                                = $12 + $9 + $2 + $6

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e. Prime cost per unit.

Prime cost per unit = Direct Manufacturing Costs'

                                = $12 + $ 9

                                = $ 21

f. Conversion cost per unit.

Conversion cost per unit = Direct Labor Costs + Overheads Costs

                                         = $9 + $2

                                         = $11

g. Contribution margin per unit.

Contribution margin per unit = Sales - Variable Costs

                                                = $ 40 - $26

                                                = $ 14

h. Gross margin per unit.

Gross margin per unit = Sales - Full absorption cost per unit

                                     = $40 - $29

                                     = $11

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