Answer:
90 percent
Explanation:
Given that,
Selling price per unit = $20
Variable costs per unit = $2
Total fixed cost = $10,000
Contribution margin = Selling price per unit - Variable cost per unit
= $20 - $2
= $18
Contribution margin ratio:
= (Contribution margin ÷ Selling price) × 100
= ($18 ÷ $20) × 100
= 0.9 × 100
= 90 percent.
Therefore, the contribution margin ratio is 90%.
Answer: The actual cost of materials was less than the standard cost
Explanation:
Net materials cost variance = Favorable materials price variance + Favorable materials quantity variance
= 380 + (-120 unfavorable)
= 380 - 120
= $260 favorable
<em>As the materials cost variance is favorable, it means that the actual cost of materials was less than what was budgeted for it or rather its standard cost. </em>
A) what others think. Your career is a part of your life, not theirs. You should follow your gut when choosing your occupation, and do what YOU want. You are in control of your career, and whether it will be a successful one.
Answer:
$31.88 per unit
Explanation:
Direct material cost:
= Material used per unit × per unit cost
= 4 × 2.21
= 8.84
Material used :
= 3.40 per unit + 0.60 normal waste
= 4 pounds per unit
per unit cost:
= 2(1 - 0.02 cash discount) + 0.25 freight
= (2 × 0.98) + 0.25
= 1.96 + 0.25
= $ 2.21 per pound
Direct labor cost
= Hours used to produce unit × Per hour cost
= (1 + 0.20 ) ($12.70 + $2)
= 1.20 × $14.70
= $17.64 per unit
Manufacturing overhead:
= $6.40 × (1 + 0.20)
= 4.50 × 1.20
= $5.40 per unit
Total standard cost per unit:
= 8.84 + $17.64 + $5.40
= $ 31.88 per unit
Answer:
A. $18,000
B. No QBI deduction
Explanation:
a) Calculation for Roquan’s deduction for qualified business income.
Using this formula
Roquan's qualified business income.
= 20% x QBI
Let plug in the formula
Roquan's qualified business income
= 20% x $90,000
Roquan's qualified business income= $18,000
Therefore Roquan’s deduction for qualified business income will be $18,000
b) Based on the information given if we assumed that Roquan's taxable income before the deduction for qualified business income is the amount of $300,000 which means that Roquan's income is higher than the amount of $213,300 hence, NO qualified business income deduction (QBI) will be allowed.