Answer:
Year 1 : $20000
Year 2 : $460000
Explanation:
Year 1 calculation:
120000-20000/50000*10000 =$20000
Year 2 calculation:
120000-20000/50000*23000=$46000
Answer:
A) Raw materials used
B) Raw materials beginning inventory
C) Raw materials purchases
Explanation:
When we are calculating the cost of goods sold, we must calculate total direct materials used + total direct labor + overhead overhead costs applied.
To calculate how much direct (raw and intermediate) materials are used, we start with our beginning inventory of (raw and intermediate) materials + purchases of (raw and intermediate) materials - ending inventory of raw materials - indirect materials used.
Some industries only calculate raw materials used, but others might include intermediate components in the equation.
Answer:
The answer is: $18,289.50
Explanation:
The interest earned from the investment in Birmingham Bonds is not included in Mitch's gross income.
If Mitch earned $100,000, so he will fall under the fourth bracket for single filers.
He will have to pay $14,089.50 plus 24% of any income over $82,500.
taxes due = $14,089.50 + [($100,000 - $82,500) x 24%]
taxes due = $14,089.50 + $4,200 = $18,289.50
Answer:
the value of good increases (goes up)
Answer:
Cheryl's net worth is;
c). $5,000
Explanation:
The net worth is the value of an individual taking into account all the individual's assets and liabilities. It is a holistic view on the value of an individual. It is also used to estimate the value of a company, corporation and even countries. It is one of the standard measures used to gauge an entity's wealth. The net worth can be calculated by taking the difference between assets and liabilities. An asset is anything of economic value that is owned by an entity while a liability is anything of economic value that is owed.
The following formula can be used to estimate Cheryl's net worth;
N=A-L
where;
N=net worth
A=assets
L=liabilities
In our case;
N=unknown to be determine
A=Automobile+checking account
Automobile=$10,000 and checking account=$5,000
A=10,000+5,000=$15,000
L=student loan+car loan
student loan=$2,000
car loan=$8,000
L=2,000+8,000=$10,000
replacing;
N=15,000-10,000=$5,000
Cheryl's net worth=$5,000
