Answer:
His American Opportunity tax credit is $2,500.
Explanation:
A taxpayer who has a modified adjusted gross income of $80,000 or less can claim the credit for the qualified expenses of an eligible student.
Taxpayers will receive a tax credit based on 100% of the first $2,000, plus 25% of the next $2,000 that is paid during the taxable year for tuition, fees and course materials and also, 40% of the credit (up to $1,000) is refundable.
Therefore, His American Opportunity tax credit is $2,500.
What is your favorite food that come from your culture mine are probably Tomales
Answer:
a. not able to be determined from the provided information.
Explanation:
For determining the over applied or under applied, first, we have to compute the predetermined rate based on the direct material cost which is
= $700,000 ÷ $1,000,000
= $0.70
Now the applied overhead is
= $0.70 × $1,200,000
= $840,000
And, the actual overhead amount is not given by which we can find out the underapplied or overapplied overhead amount
So, in this case, the correct option is a.
Answer:
The answer is: Projected net sales for this year are $45,254
Explanation:
The current total sales for MG Lighting are $50,000 (= 500 units x $100 per unit).
Next year their products will have a $10 increase (10%), so the unit price will be $110.
Due to the price increase, the number of units sold will decrease by 15%, to a total of 425 units.
MG Lighting total sales will be $46,750. Approximately 3.2% of the total sales will be returned (equivalent to $1,496).
MG Lighting net sales for this year should be $45,254 (= 46,750 - $1,496)
