A fixed expense<span> is an </span>expense<span> that will be the same total amount regardless of changes in the amount of sales, production, or some other place</span>
Answer:
b. $150
Explanation:
Standard deduction refers to deduction available to an individual at a flat rate say 30%.Whereas in itemized deductions, an individual can claim deductions at different rates on different items.
Usually itemized deductions are more beneficial to an individual and in case tax saving in these cases exceeds total standard deductions, itemized deductions should be preferred.
In the given case, contribution of $1000 to church shall amount to a deduction. Since the tax rate applicable to the individual is 15%, the savings in tax shall amount to 15% of $1000 i.e $150.
Answer:
<u>D. $950; 425</u>
<u>Explanation:</u>
Remember, direct labor refers to the actual time spent on working such as using machinery, performing tasks that leads to the production of products or services. Indirect labor involves time activites that do not involve any production of products or services.
First, direct pay:
- 38 hours of work x $25 = $950
<u>$950</u>
Indirect pay;
- 8 hours from the 46 hours she was paid (8 x $25) = $200
- For 4 days she had 1.5 hours of overtime per day (4 x 1.5 x 37.5) = $225.
Total = <u>$425</u>
Note: by saying if she exceeds her normal 40 hours, she gets paid time and a half implies 1.5 * $25 ($37.5)
Answer:
Wilson previously worked as an accountant, earning $3,000 a month.
Explanation:
Implicit costs or opportunity costs are the extra costs or benefits lost from choosing one activity or investment over another alternative.
In this case, Wilson had to quit his former job as an accountant in order to open his health club. So the salary that Wilson could have earned as an accountant would be the opportunity cost of opening his club.
Answer: False
The ICS which stands for Incident Command System is the standard procedure to be applied to all types of incidents. These incidents range from small emergencies up to the large and complicated situations or events. Some of the incidents that ICS can tackle are medical emergencies, both natural and unnatural disasters, terrorist attacks, chemical spills, traffic incidents, and so on.
