Answer: $13,200
Explanation:
Given that,
Contributing to a traditional IRA = 7 years
Total in account = $30,000
Withdrawal from IRA to help pay for the car = $20,000
marginal tax bracket = 24 percent
Therefore,
After tax withdrawal:
= Withdraws - 10% penalty as per IRS for early withdrawal - 24% tax on $20,000
= $20,000 - 0.1 × 20,000 - 0.24 × 20,000
= $20,000 - 2,000 - 4,800
= $13,200
Answer:
Operating Income 20,600
Explanation:
First Step will be to calculate the contribution of the begining inventory and the contribution of the untis produced in this period:
BEGINNING INVENTORY
70 units at $150 = $10,500
cost of BI $3,600
Contribution Begining Inventory $6,900
get the production of this year contribution
Sales Units 150
Direct Materials 25
Direct Labour 10
Variable MO 15
Variable S&A 6
Total Variable 56
Contribution 94
Unit produced 450
Contribution Produced units 42300
Second, the operating income:
Contribution Begining Inventory $6,900
+ Contribution Produced units 42,300
Total contribution = 49,200
Fixed Cost
fixed MO 15,600
fixed S&A 13,000
Total Fixed Cost 28,600
Operating Income 20,600
Answer:
Journal entry
Explanation:
Before passing the journal entry we need to do the following calculations
Uncollected amount is
= $4,400 × 50%
= $2,200
Uncollected amount is
= ($4,400 - $2,200) × 0.03
= $2,200 × 0.03
= $66
So, the total amount is
= $2,200 + $66
= $2,266
Now the journal entry is
Bad debt expense $2,266
To Allowance for uncollectible accounts $2,266
(Being the uncollectible account is recorded)
Answer:
A. Lost $100
Explanation:
Short position refers to a trading technique which involves selling the currency for it to buy later and make a profit.
To calculate the loss if you don't have a forward contract:
Your loss will be
= €1,000 x ($1.50/€ - $1.60/€)
= $100
Answer:
Upward sloping because increases in output raise input prices.
Explanation:
If an increase in the demand for movies also increases the salaries of actors and actresses, then the long-run supply curve for movies is likely to be upward sloping because increases in output raise input prices.
