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ra1l [238]
3 years ago
6

A few years ago, Michael Tucker purchased a home for $182,000. Today the home is worth $230,000. His remaining mortgage balance

is $17,000. Assuming Michael can borrow up to 80 percent of the market value of his home, what is the maximum amount he can borrow?
Business
1 answer:
kolbaska11 [484]3 years ago
3 0
Can you tell us the answer choices please
You might be interested in
Sales revenue$ 4,000Purchases of direct materials$ 400Direct labor$ 450Manufacturing overhead$ 620Operating expenses$ 650Beginni
dlinn [17]

Answer:

The correct answer is D: $1900

Explanation:

Giving the following information:

Sales revenue$ 4,000

Purchases of direct materials$ 400

Direct labor$ 450

Manufacturing overhead $ 620

Operating expenses$ 650

Beginning raw materials inventory$ 200

Ending raw materials inventory$ 180

Beginning work in process inventory$ 320

Ending work in process inventory$ 410

Beginning finished goods inventory$ 250

Ending finished goods inventory$ 200

First, we need to calculate the cost of goods manufactured:

cost of goods manufactured= beginning work in process + direct materials + direct labor + manufacturing overhead - ending work in process

Direct materials= beginning inventory + purchase - ending inventory= 200 + 400 - 180= 420

cost of goods manufactured= 320 + 420 + 450 + 620 - 410= $1400

Now, we can calculate the cost of goods sold:

COGS= beginning finished inventory + cost of goods manufactured - ending finished goods

COGS= 250 + 1400 - 200= 1450

Operating income= sales  - COGS - operating expenses

Operating income= 4000 - 1450 - 650= $1900

3 0
3 years ago
Jamison's gross tax liability is $7,200. Jamison had $2,625 of available credits and he had $4,400 of taxes withheld by his empl
mina [271]

Answer:

The answer is: Jamison has $175 in taxes due.

Explanation:

To determine the amount of taxes that Jamison still has to pay, we can use the following formula:

Taxes due = tax liability - (taxes withheld by employer + tax credits)

Taxes due = $7,200 - ($4,400 + $2,625) = $7,200 - $7,025 = $175

Jamison has $175 in taxes due.

7 0
3 years ago
A low-cost airline described as one of the excellent companies in the bestseller of the early 1980s, In Search of Excellence, is
yaroslaw [1]

Answer: Monopolistic competition

Explanation:

This is a market in which large numbers of producer sells differentiated products in terms of quality or branding. The ability to differentiate the products makes it possible for the different firms to practice price discrimenation which is further strengthen through advertising of the product, the price differences may force a firm out of the market if the demand for it's products falls significantly.

6 0
3 years ago
The incomes of trainees at a local mill are normally distributed with a mean of $1,100 and a standard deviation $150. what perce
FinnZ [79.3K]
In this problem we are given the mean of $1100, SD of $150 and x equal to $900. In this case, we need to use the z-score table to answer the problem: 
z = (x-mean)/sd
z = (900-1100)/150
z = -1.33
from z-table, the probability at the left of z= -1.33 is equal to 9.18%
8 0
3 years ago
Each listed stock option contract gives the holder the right to buy or sell __________ shares of stock.
TEA [102]

Every indexed stock choice agreement offers the holder the right to buy or promote a hundred shares of stock.

A share is a piece of the agency an investor can personalize. A proportion is a unit of ownership (e.g., you very own 10 shares), whereas inventory is a measurement of fairness (e.g., you personal 10% of the agency). think of stocks as a small portion of an enterprise.

Definition: 'stock' represents the holder's part-possession in a single or several groups. in the meantime, 'percentage' refers to an unmarried unit of possession in a corporation. as example, if X has invested in stocks, it is able to imply that X has a portfolio of shares across special companies.

Shares are gadgets of fair ownership in an organization. For some companies, shares exist as an economic asset providing for an identical distribution of any residual earnings, if any are declared, in the form of dividends.

Learn more about Shares here: brainly.com/question/25818989

#SPJ4

4 0
1 year ago
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