All categories

3 years ago

What is the purpose of the 1040 series of tax forms?

Business

2 answers:

melamori03 [73]3 years ago

6 0

It is the standard (IRS) form that individuals use to file their annual income tax returns

Allushta [10]3 years ago

6 0

It is the standard (IRS) form that individuals use to file their annual income tax returns

You might be interested in

Saddle Inc. has two types of handbags: standard and custom. The controller has decided to use a plantwide overhead rate based on

AlladinOne [14]

Answer:

Saddle Inc.

1. Overhead rate using the traditional (plantwide) approach is:

= $1.84

2. The overhead rates using activity-based costing approach are:

Machining = $72.49

Machine setup = $211.69

3. The difference in allocation between the two approaches:

Differences:

ABC approach $121,808 $178,188 $299,996

Using plantwide $110,400 $189,520 $299,920

Differences $11,408 -$11,332 $76

Explanation:

a) Data and Calculations:

Total estimated overhead costs = $300,000

Machining activity = $195,000

Machine setup activity = $105,000

Standard Custom Total

Direct labor costs $60,000 $103,000 $163,000

Machine hours 1,400 1,290 2,690

Setup hours 96 400 496

Overhead rate based on direct labor costs = $1.84 ($300,000/163,000)

Overhead rates using activity-based costing approach:

Machining = $72.49 ($195,000/2,690)

Machine setup = $211.69 ($105,000/496)

Allocation of overhead costs:

Standard Custom Total

Using plantwide $110,400 $189,520 $299,920

Using ABC:

Machining $101,486 $93,512 $194,998

Machine setup 20,322 84,676 104,998

Total costs $121,808 $178,188 $299,996

Differences:

ABC approach $121,808 $178,188 $299,996

Using plantwide $110,400 $189,520 $299,920

Differences $11,408 -$11,332 $76

6 0

2 years ago

One problem in the interstate trucking industry is the number of trucks that return empty after making a delivery. There is a we

balu736 [363]

Answer:

Yield management pricing

Explanation:

Yield management pricing is the charging of different prices for a given set of capacity at a specific time in order to maximize revenue. This is based on the demand and supply in the market and is very common in industries such as airlines, hotels and resorts. When there is very high demand for airline seats, prices for them are high. However, if some of those passengers decided to refund their tickets, close to departure and the flight would be taking off soon, instead of flying with empty seats and no revenue from them, the airline would decide to sell these same seats at a cheaper rate in order to gain some revenue. This is a form of revenue maximization.

6 0

2 years ago

The following is a partial unadjusted Trial Balance.

PilotLPTM [1.2K]

Answer:

Supplies Expense 12500

Explanation:

<em>Bravo Unlimited</em>

<em>Adjustment Entry</em>

Date Particulars Debit Credit

February 29 Supplies Expense 12500

Supplies Account 12500

( Opening bal+ purchases- Ending bal= Expense= 2000+ 12000- 1500= 12500

At the month end Supplies were used for $ 12500 and supplies on hand are $ 1500.

On 2nd Feb the supplies account totalled $ 14000 but $5000 supplies had been expensed so the total amount of supplies used up is calculated by (Opening bal+ purchases- Ending bal= Expense) the formula given above.

5 0

3 years ago

Fixed expenses are $17,000 per month. The company is currently selling 800 units per month. The marketing manager would like to

Svetllana [295]

Answer:

There is a cost-saving of $1,000 per month as a result of the change. This cost-saving increases the monthly net operating income by $1,000.

Explanation:

a) Data and Calculations:

Fixed monthly expenses = $17,000

Current sales units per month = 800

Proposed sales commission per unit = $5

Decrease in salaries per month = $6,000

Increase in sales units per month = 200

Change

Before After Difference

Fixed monthly expenses $17,000 $11,000 $6,000

Variable cost per month 0 5,000 -5,000

Total cost per month $17,000 $16,000 $1,000

Sales units per month 800 1,000 200 units

b) The effect on the company's monthly net operating income is a reduction in the total cost per month by $1,000. There is also an increase in the units sold per month by 200 units. If the selling price is determined, the net operating income will also increase by the product of the contribution margin per unit and 200.

8 0

2 years ago

The lack of marketing information about religion is primarily due to ________. Select one:

kobusy [5.1K]

Answer:

Explanation:

religion being somewhat of a taboo subject among researchers

Most researchers especially science researchers don't believe there exist any religion. Some of them are free thinker, they believe things just happened through evolution.

6 0

2 years ago