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Naya [18.7K]
2 years ago
5

Millie, age 80, is supported during the current year as follows: Percent of Support Weston (a son) 20% Faith (a daughter) 35% Ja

ke (a cousin) 25% Brayden (unrelated close family friend) 20% During the year, Millie lives in an assisted living facility. Under a multiple support agreement, indicate which parties can qualify to claim Millie as a dependent. a.Weston, Faith, Jake, and Brayden. b.Weston and Faith. c.Faith, Jake, and Brayden. d.Faith.
Business
1 answer:
dezoksy [38]2 years ago
3 0

The parties who may qualify to claim Millie as a dependent are Weston and Faith (option B)

A support agreement is a contract between one or more people who voluntarily agree to support other people (usually children or elderly parents).

In the case presented, the people who qualify are:

  • Weston and Faith (option B)

These two people qualify because between them they give more than 50% of the support and are closely related to Millie, they are her children.

On the other hand, Jake and Brayden do not classify because they do not contribute equally or more than 50% of the support and one of them is not related to Millie.

According to the above, the correct answer is B, because it mentions the people who qualify to claim Millie as a dependent.

Learn more in: brainly.com/question/12090527

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Ice Cream Corporation uses the weighted-average method in its process costing system. Data concerning the first processing depar
olya-2409 [2.1K]

Answer:

Ice Cream Corporation

The cost per equivalent unit for materials for the month in the first processing department is closest to:

= $14.30.

Explanation:

a) Data and Calculations:

                                                  Units       Materials        Conversion

Beginning work in process     2,400      $ 14,500           $ 6,600

Percentage of completion

Beginning work in process                        75%                   20%

Started into production          11,100

Units in production               13,500

Completed and transferred 10,000

Ending work in process         3,500         90%                  30%

Costs added during the month             $173,600       $243,600

Total costs of production

Beginning work in process          $ 14,500           $ 6,600

Costs added during the month    173,600          243,600

Total costs of production            $188,100        $250,200

Equivalent units of production:

Completed and transferred 10,000   10,000 (100%)   10,000 (100%)

Ending work in process         3,500     3,150 (90%)       1,050 (30%)

Equivalent units of production            13,150                11,050

Cost per equivalent unit:

Total costs of production            $188,100        $250,200

Equivalent units of production        13,150              11,050

Cost per equivalent unit                 $14.30            $22.64

5 0
3 years ago
Which of the following can explain the upward slope of the short-run aggregate supply curve? a. nominal wages are slow to adjust
Goryan [66]

Answer: A - nominal wages are slow to adjust to changing economic conditions 

Explanation:

In the short run, the costs of many of the factors used in the production process are fixed.  For example labours wage is fixed for a number of years because of labour contracts. Also the raw materials used in the production process have long term agreements that fix their prices.

As a result of factors of production been fixed in the short run, when general price level rises and the cost of production remains constant, profit also rises.

Firms take advantage of this rise in price and increase production and the quantity of aggregate supply increases. This is why the short run aggregate supply curve is upward sloping.

7 0
3 years ago
The BRS Corporation makes collections on sales according to the following schedule: 45% in month of sale 50% in month following
swat32

Answer:

$174,500.

Explanation:

Budgeted sale in June would made up of the collections:

Month of sale collection

45% × June = 45% × 170,000 = 76500

Month following sale

50% × May sales = 50% × 180,000 = 90000

Second month following sales

= 5% × April sales =  5% × 160,000 =  8000

Budgeted cash collection for June

= 76,500 +90,000 +8,000

=  $174,500.

3 0
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The unrecognized net gain or loss balance must be amortized when it exceeds 10% of the larger of the: beginning accumulated bene
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Answer:

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Explanation:

The balance of the Unrecognized Net Gain or Loss account subject to amortization only if it exceeds 10% of the larger of the beginning balances of the projected benefit obligation or the market-related value of the plan assets.

Amortization is simply the procedure or the process of retiring a debt or recovering a capital investment. This can be done via scheduled, systematic repayment of the principal or a program of periodic contributions to a sinking fund or debt retirement fund.

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