The amount of effort that you put into your courses increases the marginal
cost of your education.
Marginal cost refers to the incremental cost which is accrued as a result of
increase in goods and services.
In this scenario, amount of effort put into courses entails more time and
money spent from buying of books and other materials. This therefore
depicts an increase in the incremental and marginal cost.
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<span>Family A: marginal rate 20%, average rate 10%</span><span>
Family B: marginal rate 40%, average rate 23% </span><span>
The marginal tax rate is the rate paid on the last dollar of income; this would be whatever tax bracket the family is in. The average price is the total tax divided by the total revenue. </span><span>
Family A: </span><span>
</span><span>
total income $40,000: this includes $10,000 at 0%, $20,000 at 10% (tax of $2,000), and $10,000 at 20% (tax of $2,000). The last rate paid is 20% so that is the marginal rate; the total tax paid is $4,000, divide that by $40,000 total income, that is the average rate. </span><span>
Family B: </span><span>
</span><span>
total income $100,000: this includes $10,000 at 0%, $20,000 at 10% (tax of $2,000), $20,000 at 20% (tax of $4,000), $30,000 at 30% (tax of $9,000), and $20,000 at 40% (tax of $8,000). The last rate paid is 40% so that is the marginal rate; the total tax paid is $23,000, divide that by $100,000 total income, that is the average rate.</span>
Answer:
(c). Net increase in assets of $35,000 and a net increase in liabilities of $35,000
Explanation:
Accrual basis of accounting attempts to record transactions as and when they arise and not on the basis of when money is actually received or paid. Once a liability is certain, such a liability is provided for immediately.
The journal entry for purchase of Land partly by cash and partly for issuing a notes payable would be:
Land Dr. $55,000
To Cash $20,000
To Notes Payable $35,000
(Being land purchased by payment of $20,000 in cash and a note being issued against the balance amount)
Land and cash are assets whereas Notes Payable is a liability.
So, the effect of the above transaction would be:
Net increase of $35,000 ( $ 55,000 - $ 20,000) as debit in fixed assets account increases their balance whereas cash being a real account, the rule being debit what comes in, credit what goes out. So credit in cash account would reduce the cash balance by $ 20,000.
Notes Payable account which is to be paid in future is a liability which shall increase the liabilities by $ 35,000.
So, the correct answer is (c), Net increase in assets of $35,000 and a net increase in liabilities of $35,000.
Answer:
A. 37,500 balls
B.2.67
Explanation:
A. Compution for the CM ratio and the break-even point in balls.
First step is to calculate the Contribution margin
Selling price $25 100%
Variable expenses $15 60%
Contribution margin $10 40%
($25-$15)
Now let calculate the CM ratio and the break-even point in balls using this formula
Unit sales to break even=Fixed expenses/Unit contribution margin
Let plug in the formula
Unit sales to break even=$375,000/$10
Unit sales to break even= 37,500 balls
Therefore the CM ratio and the break-even point in balls will be 37,500 balls
b. Computation for the degree of operating leverage at last year
Using this formula
Degree of operating leverage =Contribution margin/Net operating income
Let plug in the formula
Degree of operating leverage=$600,000/$225,000=
Degree of operating leverage = 2.67 (rounded)
Therefore the degree of operating leverage at last year will be 2.67
Answer:
Total of the variable overhead rate and fixed manufacturing overhead budget variances for the month = $9,096 Unfavorable
Explanation:
Actual variable overhead rate = 
= 
Therefore variance with the budgeted standard variable overhead
= (Standard Overhead rate - Actual overhead rate) 
Actual Hours
= ($9.70 - $10.34) 6,400 = -$4,096
And Fixed Overhead variance = Standard Fixed Overhead - Actual Fixed Overhead = $69,000 - $74,000 = -$5,000
Total of the variable overhead rate and fixed manufacturing overhead budget variances for the month = -$4,096 + -$5,000 = -$9,096
Since the value of variance is negative it means the expense both variable and fixed are over absorbed, which means it is unfavorable.
Total of the variable overhead rate and fixed manufacturing overhead budget variances for the month = $9,096 Unfavorable
