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swat32
4 years ago
12

Dexter owns a large tract of land and subdivides it for sale. Assume that Dexter meets all of the requirements of § 1237 and dur

ing the tax year sells the first eight lots to eight different buyers for $113,000 each. Dexter's basis in each lot sold is $79,100, and he incurs total selling expenses of $4,520 on each sale. What is the amount of Dexter’s capital gain and ordinary income?

Business
1 answer:
Oksanka [162]4 years ago
6 0

Answer:

Please see attachment

Explanation:

Please see attachment

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g Overhead costs are assigned to production using an overhead application rate, whereas no such "application rate" is used to as
Hoochie [10]

Answer:

Overhead costs are assigned to production using an overhead application rate, whereas no such "application rate" is used to assign the costs of direct materials and direct labor to production. The reason for this difference in procedures is that:

Overhead is an indirect cost which cannot be traced easily and directly to specific units of product.

Explanation:

Manufacturing overhead costs are not direct costs.  They are not generally traceable to units of products.  They include such indirect costs as Depreciation Expense, Property Taxes, Indirect Labor, Indirect Materials, etc.  No unit of product can be ascribed such costs except as an approximation.

7 0
4 years ago
Brief Exercise 5-8 Cullumber Company has a unit selling price of $630, variable costs per unit of $300, and fixed costs of $327,
IRISSAK [1]

Answer:

(a)

Mathematical Equation for break-even

F = QP - QV

Where

F = fixed cost

Q = Break-even quantity

P = Selling price

V = Variable cost

F = Q ( P - V )

Q = F / ( P - V )

Q = $327,030 / ( $630 - $300 )

Q = $327,030 / $330

Q = 991 units

(b)

Contribution Margin = Price per unit - Variable cost per unit

Contribution Margin = $630 - $300 = $330

Break-even Point in Units = Fixed Cost / Contribution margin per unit

Break-even Point in Units = $327,030 / $330 = 991 units

Explanation:

Mathematical equation use the the break-even equation which represent the behavior of each element towards the break-even point.

Contribution per unit method use the contribution of each unit to calculate the break-even point.

5 0
3 years ago
A 55 year old woman wishes to remove funds from her Individual Retirement Account to remodel her house. The customer is subject
Sonja [21]

Answer:

D

Explanation:

with the tax you have to pay and the withdraw amount i would say that that woman will have a happy retierment and remodle her house

5 0
3 years ago
Suppose an increase in interest rates causes rising unemployment and falling output. to counter this, the federal reserve would
weqwewe [10]
Most likely A) increase money supply, because they are capitalism economy. The federal reserve is in charge of all the country's Capitol, or: resources and money.
(but for a country that is more sympathetic to the people it would be B) because it would increase social security nets like welfare)
8 0
3 years ago
IE 9-6 ... AS/AD model – If this economy has an equilibrium in Year 5 with a Price Level of $2.54, then Nominal Income GDP will
REY [17]

Answer:

<u>$4387 b</u> but Real Income GDP will be <u>$4500 b</u> ..

Explanation:

This nominal GDP signifies the worth of all those ultimate assets including assistance that economics performed throughout a provided year. The aforementioned is calibrated by implementing the uses that remain contemporary throughout the year while which that output is generated. Meanwhile, in economics, a nominal worth is formulated into monetary sessions.

This is essential to identify amidst the nominal and real value of a nation's internal production including profit. Real GDP estimates a specific amount of production. An expansion in real production signifies that AD has grown quicker than this rate of inflation moreover this prosperity is encountering assertive germination. So according to the above eplaination the answer is mentioned below.

AS/AD model – If an aforementioned administration maintains equanimity into Year 5 including a Value Level concerning $2.54, later Nominal Earnings GDP will remain <u>$4387 b</u> still Real Income GDP will remain <u>$4500 b</u> ..

4 0
3 years ago
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