Answer:
(C) Supply of bicycles will shift to the left.
Explanation:
A change in supply results to a shift in the supply curve. A decrease in the change in supply, which is caused by an increase in price will shift the supply curve left.
Answer:
Net income = $20,940
Explanation:
Answer 1.
Accounts
Cash Receipts 32,000
Expenses
Advertising 500
Depreciation 3,200
Car & Truck Expense 1,360
Employee Compensation 5,000
Education 1,000 11,060
Net Income 20,940
Therefore, the net income that Smith should report from his business after considering all the cash receipts and all the expenditures associated with his business is $20,940. All the expenses are to be deducted from income.
Answer:
The American Opportunity Tax Credit (AOTC) that can be claimed is $2,500.
Explanation:
As of 2018, no changes have been made to the AOTC. By law, with a modified adjusted gross income (MAGI) of $80,000 or less for single individuals and $160,000 or less for married filing jointly, the individuals can claim the full credit amount. It is a credit paid for an eligible student to cover education expenses, if in the first four years of postsecondary education. A maximum annual amount of $2,500 is given and an additional 40% of remaining amount (up to $1,000) if the tax owed falls to zero.
Answer:
$12.50
Explanation:
Variable costs are those costs which changes with the change in activity driving the cost (Sales. production etc.). It can be direct or indirect costs.
Whereas fixed costs are those costs which remains constant and do not change with the change in activity.
All the following costs are variable costs
Average Cost per Unit
Direct materials $6.45
Direct labor $3.30
Variable manufacturing overhead $1.25
Sales commissions $1.00
Variable administrative expense <u>$0.50</u>
Total variable cost per unit <u>$12.50</u>
All the following costs are fixed costs.
Fixed manufacturing overhead $3.00
Fixed selling expense $1.05
Fixed administrative expense $0.60
