Carson's tax liability for 2021 as a 23-year full-time student, who earns from the summer internship and part-time job and receives a qualified dividend is $645.
<h3>What is tax liability?</h3>
Tax liability refers to the amount that a taxpayer is obliged to pay.
The tax liability is a function of the taxpayer's taxable income, tax bracket, deductions, and applicable tax rate.
In this case, we have assumed a flat tax rate of 10% for both Carlson's earned income and the dividend income.
<h3>Data and Calculations:</h3>
Earned income = $14,000
Qualified Dividend income = $5,000
Adjusted taxable income = $6,450 ($19,000 - $12,550)
Tax liability = $645 ($6,450 x 10%)
Thus, Carson's tax liability for 2021 is $645.
Learn more about tax liabilities at brainly.com/question/7409145
Answer:
Contribution margin per unit = $250
Contribution margin ratio = 55.56%
Explanation:
The computations are shown below:
Contribution margin per unit = Sale price per unit - variable cost per unit
= $450 - $200
= $250
Contribution margin ratio would be
= (Contribution margin per unit) ÷ (Sale price per unit) × 100
= ($250) ÷ ($450) × 100
= 55.56%
And, the contribution margin income statement for may month is presented below:
Sales (225 bikes × $450) $101,250
Less: Variable cost (225 bikes × $200) ($45,000)
Contribution margin $56,250
Less: Fixed expenses per month ($40,000)
Net income $16,250
I'm not them but hello anyway B)
Answer:
$75,600
Explanation:
We divide the total sales with the number of units to get the unit price . Similarly we get the unit price for the variable costs. But as the fixed costs remain constant they will not change. We get the contribution margin =$75,600
Lasseter Corporation
Contribution Format Income Statement for August
Sales (4,200 units) $ 127,100 /4100= $31 * 4200 $ 130200
Variable expenses (53,300/4100)*4200 = $ 54600
Contribution margin 75,600
Fixed expenses 44,200
Net operating income $ 31,400
Lasseter Corporation
Contribution Format Income Statement for August
Sales (4,100 units) $ 127,100
Variable expenses 53,300
Contribution margin 73,800
Fixed expenses 44,200
Net operating income $ 29,600
