if i open a contract near market closing then close the contract next day does that count as day trade

Omega Custom Cabinets produces and sells custom bathroom vanities. Assume that labor is the only input that varies for the firm.

Papessa [141]

Answer:

The answer is option a). For the 11th worker, the marginal profit is $600.

Explanation:

Step 1: Determine the initial profit for the 10 workers as shown;

initial profit=revenue from sales-cost of labor

where;

revenue from sales=sale per unit×number of units

revenue from sales=800×20=$16,000

cost of labor=cost per unit×number of workers

cost of labor=1,000×10=$10,000

replacing;

initial profit=16,000-10,000=$6,000

Step 2: Determine the final profit for the 10 workers as shown;

final profit=revenue from sales-cost of labor

where;

revenue from sales=sale per unit×number of units

revenue from sales=800×22=$17,600

cost of labor=cost per unit×number of workers

cost of labor=1,000×11=$11,000

replacing;

final profit=17,600-11,000=$6,600

Step 3: Determine the marginal profit as shown;

marginal profit=final profit-initial profit

where;

final profit=$6,600

initial profit=$6,000

replacing;

marginal profit=6,600-6,000=$600

The marginal profit for the 11th worker=$600

5 0

3 years ago

Jurisdiction X levies a flat 14 percent tax on individual income in excess of $35,000 per year. Individuals who earn $35,000 or

Katyanochek1 [597]

Answer:

A. Taxable income =$63,750

Income tax = $8,925

Average rate=9%

MARGINAL RATE 14%

B. Taxable income= $12,900

Income tax =$1,806

Average rate =3.8%

MARGINAL RATE 14%

C. Zero

D. PROGRESSIVES RATE STRUCTURE

Explanation:

a. Computation for income tax, average , and marginal tax.

Computation for Mr. Hill's taxable income

Taxable income =($98,750 -$35,000)

Taxable income =$63,750

Computation for Mr. Hill's income tax

Income tax=($63,750 ×14%)

Income tax = $8,925

Computation for Mr. Hill's average rate Average rate= ($8,925 ÷$98,750)

Average rate=9%

Based on the information given we were told they levies a flat 14% tax which means that the

MARGINAL RATE will be 14%.

B. Computation for Ms. Lui income, average , and marginal tax.

Taxable income=

($47,900 -$35,000)

Taxable income= $12,900

Income tax = ($12,900 ×14%)

Income tax =$1,806

Average rate = ($1,806 ÷$47,900)

Average rate =3.8%

Based on the information given we were told they levies a flat 14% tax which means that the

MARGINAL RATE will be 14%

C. Based on the information given about Ms. Archer's we were told that she earned the amount of $34,100 as income this year in which she as well paid no income tax which means that her average and marginal rates will be Zero (0).

d. Based on the information given a bit Jurisdiction X we can tend to say that Jurisdiction X make use of PROGRESSIVES RATE STRUCTURE reason been that the Jurisdiction X average rate will continue to increase as the individual income increases.

4 0

3 years ago

Classify each cost as being either variable or fixed with respect to the number of units produced and sold.

charle [14.2K]

Answer:

Explanation:

There are primarily two types of costs, i.e. variable costs and the fixed costs. The variable cost is the cost that varies when the level of output changes, while the fixed cost is the cost that remains constant whether the level of production changes or not. The variable cost includes indirect inventory, indirect labor and factory supplies.

And, the fixed cost includes supervision, taxes ,and depreciation expense.

As we know that, the product cost would be a mix of Direct materials cost + Direct labor cost + manufacturing overhead cost

where,

Manufacturing overhead = Factory utilities + Factory machinery depreciation + Factory building property tax + Indirect factory work + Indirect materials + Factory repairs + Factory manager salary

And, the selling and administrative cost is the cost which is incurred for selling the product. example - advertising, etc

So, the categorization is shown below:

1. Hamburger buns in a Wendy's outlet. = Variable and product cost

2. Advertising by a dental office. = Fixed and Selling and Administrative cost

3. Apples processed and canned by Del Monte. = Variable and product cost

4. Shipping canned apples from a Del Monte plant to customers. = variable and Selling and Administrative cost

5. Insurance on a Bausch & Lomb factory producing contact lenses. = fixed and product cost

6. Insurance on IBM's corporate headquarters. = fixed and Selling and Administrative cost

7. Salary of a supervisor overseeing production of printers at Hewlett-Packard. = fixed and product cost

8. Commissions paid to automobile salespersons. = variable and Selling and Administrative cost

9. Depreciation of factory lunchroom facilities at a General Electric plant. = fixed and product cost

10. Steering wheels installed in BMWs. = variable and product cost

7 0

3 years ago

At the beginning of the day, the sum of the stocks in the Dow Jones was $10,245.31. At the end of the day, the sum of the stocks

Anni [7]

Its -0.8%
so it would be c -0.8%

5 0

3 years ago

Read 2 more answers

On August 1, 2021, Fowler Company acquired $500,000 face value 10% bonds of Kasnic Corporation at 104 plus accrued interest. The

juin [17]

Answer:

b) Debt Investments: 520,000 | Interest Revenue: 12,500 | Cash: 532,500

Explanation:

The journal entry to record the purchase of the bond is shown below:

Debt investment Dr $500,000 × 1.04) $520,000

Interest revenue Dr ($500,000 × 10% × 3 ÷ 12) $12,500

To Cash $532,500

(being the purchase of the bond is recorded)

Here the debt investment and interest revenue is debited as it increase the assets and decreased the revenue while on the other hand the cash is credited as it decreased the assets

Hence, the correct option is b.

3 0

3 years ago