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Deffense [45]
2 years ago
13

Sandy is a single taxpayer who collected Social Security benefits of $22,000. The Social Security benefits were her only income

for the tax year. What is the amount of taxes she will owe when she files her income tax return
Business
1 answer:
butalik [34]2 years ago
8 0

Answer: $0

Explanation:

A tax is a levy that's being paid to the government which is basically used to improve the economy and provide necessary infrastructural facilities.

Once an individual has an income that's less than $25,000, social security won't be taxed. In this scenario, Sandy has an income of $22000, therefore she won't be taxed.

You might be interested in
What happens if money needs to be transferred from one agency to another and the legislature is not in session to authorize this
kvv77 [185]

Answer:

The legislature budget board and the governor are authorize to transfer money from one agency to other.

Explanation:

Given:

Money needs to be transferred from 1 agency to other when legislature is not in session:

Solution:

When Legislature is not in session, the legislature budget board and the governor are authorize to transfer the money from one agency to other during emergencies.

3 0
3 years ago
Budgeting material purchases budget. The Howell Company has prepared a sales budget of 42,000 finished units for a 3- month peri
tangare [24]

Answer:

The number of Gallon materials Howell company should buy is 166000 Gallons

Explanation:

Finished goods

opening inventory               11000

produced                                            

closing inventory                13000

finished goods sold            42000

using the bottom up approach to get goods produced

sold goods + closing goods - opening goods = produced =44000 goods

Direct material ( Gallons)

opening materials                  66000

purchased                             166000              

available for use                   232000

used in production                 176000

closing gallons                       56000

We use the bottom up approach to get the materials to be purchased

closing stock plus used in production to get available for use then subtract opening material to get purchased = 166000

4 0
3 years ago
At the beginning of the year, Rangle Company expected to incur $64,000 of overhead costs in producing 6,400 units of product. Th
Studentka2010 [4]

Answer:

$48,000

Explanation:

The total cost of the units produced in the month is the sum of the direct and indirect cost. The indirect cost is also known as the overheads.

The direct cost is the sum of the direct labor and direct material cost.

Total direct cost = 600( $30 + $40)

= $42000

Indirect cost = 600/6400 * $64,000

= $6000

The total cost of the units made in January was

= $42000 + $6000

= $48,000

6 0
3 years ago
Read 2 more answers
Pete Rool made deposits of $6,000 at the end of each quarter to Rote Bank, which pays 8% interest compounded quarterly. After 3
Aleksandr [31]
Prt                   i=prt
p=$6000         i=6000x8%x3yr
r=8%               i=1440x2=2880
t=3yr              
8 0
3 years ago
A customer has requested that Lewelling Corporation fill a special order for 9,000 units of product S47 for $20.50 a unit. While
bonufazy [111]

Answer:

$4,500

Explanation:

The computation of the annual financial advantage (disadvantage) for the company is shown below:

Sales (9,000 units × 20.50)    $184,500

Less: Variable costs:      

Direct materials (9,000 units × $3.10) -$27,900  

Direct labor (9,000 units × $1.50)         -$13,500

Variable manufacturing overhead (9,000 units × $6.40) $57,600

Increase in variable costs (9,000 units × $5) -$45,000

Less: Investment in special molds  -$36,000  

Financial advantage                                  $4,500

We simply deduct the all cost from the sales so that the financial advantage could come

5 0
3 years ago
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