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Ierofanga [76]
3 years ago
10

Madison's gross tax liability is $9,000. Madison had $3,000 of tax credits available and she had $8,000 of taxes withheld by her

employer. What are Madison's taxes due (or taxes refunded) with her tax return?
A) $0 taxes due and $0 tax refund.
B) $6,000 taxes due.
C) $2,000 tax refund.
D) $1,000 taxes due.
Business
1 answer:
Anuta_ua [19.1K]3 years ago
4 0

Answer:

C. $2000 tax refund

Explanation:

Given that

Tax liability = 9000

Tax credits = 3000

Tax withheld = 8000

Maddison tax return = Gross tax liability - tax credits - tax withheld

Therefore

Tax return = 9000 - 3000 - 6000

= -2000.

This indicates a tax refund of $2,000

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6 0
1 year ago
The total factory overhead for Rowland Company is budgeted for the year at $652,000 and divided into two departments: Fabricatio
vlabodo [156]

Answer:

$86

Explanation:

The total overhead for Rowland Co. = $652,000 per annum (p/a). broken down across two departments as follows:

Department/Item                     (Treadmill)      ||     (Weight Machine)

                                                    (Direct labor hours in production)      Total

Fabrication = $460,000 p/a            3              ||                 2

Assembly = $192,000 p/a                1              ||                 5

Nos of Units for production            4000          ||              4000

To produce 4000 Weight Machines, would require 8000 fabrication hours and 20,000 assembly hours. while, 4000 treadmills will require 12,000 fabrication hours and 4,000 assembly hours.

Total number of Fabrication hours for the year is 12,000 + 8,000 = 20,000.

Total number of assembly hours for the year is 20,000 + 4,000 = 24,000

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Therefore, the allocated overhead per unit for each weight machine

= (2 * $23) + (5 * $8) = $46 + $40 = $86

3 0
3 years ago
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Answer:

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7 0
3 years ago
When choosing between two alternatives, such as replacing or not replacing the machine, do not include _______ costs in the anal
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Answer:

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Usually Projects have Head Office costs that are allocated to them.

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Thus, Head Office Costs allocations are <em>irrelevant</em> and must not be included in the analysis.

4 0
3 years ago
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