Matt and Meg Comer are married and file a joint tax return. They do not have any children. Matt works as a history professor at a local university and earns a salary of $64,950. Meg works part-time at the same university. She earns $34,250 a year. The couple does not itemize deductions. Other than salary, the Comers’ only other source of income is from the disposition of various capital assets (mostly stocks). (Use the tax rate schedules,Dividends and Capital Gains Tax Rates.) (Round your final answers to the nearest whole dollar amount.)
a. What is the Comers’ tax liability for 2019 if they report the following capital gains and losses for the year?
| Short-term capital gains | $ | 9,250 | |
| Short-term capital losses | (2,250 | ) | |
| Long-term capital gains | 15,490 | ||
| Long-term capital losses | (6,490 | ) | |
b. What is the Comers’ tax liability for 2019 if they report the following capital gains and losses for the year?
| Short-term capital gains | $ | 1,500 | |
| Short-term capital losses | 0 | ||
| Long-term capital gains | 9,500 | ||
| Long-term capital losses | (9,450 | ) | |
In: Accounting
take the paragraphs from the Module 1 assignment, find a relevant source about that and then add an in-text citation and a reference for the source.
There are a few ways that one may use plagiarism. One can use Plagiarize by submitting a assignment that they have already completed for a different course or by giving someone else their work to submit as their own. Plagiarize can also be caused if one do not use quotations where they are needed or cite references correctly. The best way to avoid plagiarize is by using accredited sources. It can be avoided by using resources provided by the University.
Conclusion
I agree they are a different type of the way you can use plagiarism. For example,
giving your paper to someone else and they use it in a class that you have had
prior to them and they resubmit it as their own. Then when you do an
assignment and you use other people word and not your own that is also
plagiarism. So, I agree that use the proper questions if using someone else
word in your assignment and giving the correct citations so that you do avoid
any university violations and you don’t have to do the research all over
again.
In: Operations Management
I am having a problem solving 1-19, I know the answer by playing with the numbers to get the right answer to work, but I need to understand the formula and how to get to the answer correctly. Can you please help me with the correct formula. Also, what does s' mean?
1-18 Katherine D’Ann is planning to finance her college education by selling programs at the football games for State University. There is a fixed cost of $400 for printing these programs, and the variable cost is $3. There is also a $1,000 fee that is paid to the university for the right to sell these programs. If Katherine was able to sell programs for $5 each, how many would she have to sell in order to break even?
1-19 Katherine D’Ann, from Problem 1-18, has become concerned that sales may fall, as the team is on a terrible losing streak and attendance has fallen off. In fact, Katherine believes that she will sell only 500 programs for the next game. If it was possible to raise the selling price of the program and still sell 500, what would the price have to be for Katherine to break even by selling 500?
In: Math
Arya is a soccer player. If she is healthy she makes 1000000 a year. She may get injured. If she gets injured and cannot play she will only get 160000 instead. The probability of her getting injured is 25%. She has the following utility function for consumption
U(c)=sqrt(c)
(a) What is her expected consumption from playing soccer?
(b) What is her expected utility from playing soccer?
(c) Prove that she is risk-averse.
(d) Someone offers her a job as a host for a TV show that pays $700000 a year. Will she accept it? Why/ Why not? Show me your work.
(e) What is the lowest paying job she will accept to quit her soccer career and not have any income uncertainty?
(f) She is thinking about buying insurance against injury. Draw her budget constraint with insurance coverage. Label it well.
(g) What is the fair price for her? How much insurance will she buy if this insurance price is available? Show your work
Arya is one of many athletes who are facing risk of injury for which the insurance company provides coverage. There are two groups of athletes. High-risk athletes who get injured 40% of the time and lower risk athletes, like Arya, who get injured only 25% of the time. The insurance company cannot observe how high the risk of injury is for any athlete but they know that half of the athletes are high risk and the other half are low risk.
(h) What is the lowest price the insurance company is willing to offer if they can only offer one price and cannot discriminate? Show your work.
(i) Will Arya get insured at this price? How much insurance will she buy? Why is this coverage amount different than the one above. Show your work.
(j) Discuss a real life example of the insurance problem we have in this question.
In: Economics
Kubin Company’s relevant range of production is 26,000 to 35,500 units. When it produces and sells 30,750 units, its average costs per unit are as follows:
| Average Cost per Unit | ||
| Direct materials | $ | 8.60 |
| Direct labor | $ | 5.60 |
| Variable manufacturing overhead | $ | 3.10 |
| Fixed manufacturing overhead | $ | 6.60 |
| Fixed selling expense | $ | 5.10 |
| Fixed administrative expense | $ | 4.10 |
| Sales commissions | $ | 2.60 |
| Variable administrative expense | $ | 2.10 |
Required:
1. Assume the cost object is units of production:
a. What is the total direct manufacturing cost incurred to make 30,750 units?
b. What is the total indirect manufacturing cost incurred to make 30,750 units?
2. Assume the cost object is the Manufacturing Department and that its total output is 30,750 units.
a. How much total manufacturing cost is directly traceable to the Manufacturing Department?
b. How much total manufacturing cost is an indirect cost that cannot be easily traced to the Manufacturing Department?
3. Assume the cost object is the company’s various sales representatives. Furthermore, assume that the company spent $126,075 of its total fixed selling expense on advertising and the remainder of the total fixed selling expense comprised the fixed portion of the company's sales representatives’ compensation.
a. When the company sells 30,750 units, what is the total direct selling expense that can be readily traced to individual sales representatives?
b. When the company sells 30,750 units, what is the total indirect selling expense that cannot be readily traced to individual sales representatives?
In: Accounting
Kubin Company’s relevant range of production is 18,000 to 22,000 units. When it produces and sells 20,000 units, its average costs per unit are as follows:
| Average Cost per Unit | ||
| Direct materials | $ | 7.00 |
| Direct labor | $ | 4.00 |
| Variable manufacturing overhead | $ | 1.50 |
| Fixed manufacturing overhead | $ | 5.00 |
| Fixed selling expense | $ | 3.50 |
| Fixed administrative expense | $ | 2.50 |
| Sales commissions | $ | 1.00 |
| Variable administrative expense | $ | 0.50 |
Required:
1. Assume the cost object is units of production:
a. What is the total direct manufacturing cost incurred to make 20,000 units?
b. What is the total indirect manufacturing cost incurred to make 20,000 units?
2. Assume the cost object is the Manufacturing Department and that its total output is 20,000 units.
a. How much total manufacturing cost is directly traceable to the Manufacturing Department?
b. How much total manufacturing cost is an indirect cost that cannot be easily traced to the Manufacturing Department?
3. Assume the cost object is the company’s various sales representatives. Furthermore, assume that the company spent $50,000 of its total fixed selling expense on advertising and the remainder of the total fixed selling expense comprised the fixed portion of the company's sales representatives’ compensation.
a. When the company sells 20,000 units, what is the total direct selling expense that can be readily traced to individual sales representatives?
b. When the company sells 20,000 units, what is the total indirect selling expense that cannot be readily traced to individual sales representatives?
In: Accounting
Problem 18-7B Break-even analysis with composite units P4
Milano Co. manufactures and sells three products: product 1, product 2, and product 3. Their unit selling prices are product 1, $40; product 2, $30; and product 3, $20. The per unit variable costs to manufacture and sell these products are product 1, $30; product 2, $15; and product 3, $8. Their sales mix is reflected in a ratio of 6:4:2. Annual fixed costs shared by all three products are $270,000. One type of raw material has been used to manufacture products 1 and 2. The company has developed a new material of equal quality for less cost. The new material would reduce variable costs per unit as follows: product 1 by $10 and product 2 by $5. However, the new material requires new equipment, which will increase annual fixed costs by $50,000.
Required
Check (1) Old plan break-even, 1,875 composite units
(2) New plan break-even, 1,429 composite units (rounded)
Analysis Component
In: Accounting
Kubin Company’s relevant range of production is 11,000 to 14,000 units. When it produces and sells 12,500 units, its average costs per unit are as follows:
| Average Cost per Unit | ||
| Direct materials | $ | 7.20 |
| Direct labor | $ | 4.20 |
| Variable manufacturing overhead | $ | 1.70 |
| Fixed manufacturing overhead | $ | 5.20 |
| Fixed selling expense | $ | 3.70 |
| Fixed administrative expense | $ | 2.70 |
| Sales commissions | $ | 1.20 |
| Variable administrative expense | $ | 0.70 |
Required:
1. Assume the cost object is units of production:
a. What is the total direct manufacturing cost incurred to make 12,500 units?
b. What is the total indirect manufacturing cost incurred to make 12,500 units?
2. Assume the cost object is the Manufacturing Department and that its total output is 12,500 units.
a. How much total manufacturing cost is directly traceable to the Manufacturing Department?
b. How much total manufacturing cost is an indirect cost that cannot be easily traced to the Manufacturing Department?
3. Assume the cost object is the company’s various sales representatives. Furthermore, assume that the company spent $33,750 of its total fixed selling expense on advertising and the remainder of the total fixed selling expense comprised the fixed portion of the company's sales representatives’ compensation.
a. When the company sells 12,500 units, what is the total direct selling expense that can be readily traced to individual sales representatives?
b. When the company sells 12,500 units, what is the total indirect selling expense that cannot be readily traced to individual sales representatives?
In: Accounting
Kubin Company’s relevant range of production is 21,000 to 25,000 units. When it produces and sells 23,000 units, its average costs per unit are as follows: Average Cost per Unit Direct materials $ 8.10 Direct labor $ 5.10 Variable manufacturing overhead $ 2.60 Fixed manufacturing overhead $ 6.10 Fixed selling expense $ 4.60 Fixed administrative expense $ 3.60 Sales commissions $ 2.10 Variable administrative expense $ 1.60 Required:
1. Assume the cost object is units of production: a. What is the total direct manufacturing cost incurred to make 23,000 units?
b. What is the total indirect manufacturing cost incurred to make 23,000 units?
2. Assume the cost object is the Manufacturing Department and that its total output is 23,000 units.
a. How much total manufacturing cost is directly traceable to the Manufacturing Department?
b. How much total manufacturing cost is an indirect cost that cannot be easily traced to the Manufacturing Department?
3. Assume the cost object is the company’s various sales representatives. Furthermore, assume that the company spent $82,800 of its total fixed selling expense on advertising and the remainder of the total fixed selling expense comprised the fixed portion of the company's sales representatives’ compensation.
a. When the company sells 23,000 units, what is the total direct selling expense that can be readily traced to individual sales representatives?
b. When the company sells 23,000 units, what is the total indirect selling expense that cannot be readily traced to individual sales representatives?
In: Accounting
Kubin Company’s relevant range of production is 15,000 to 19,000 units. When it produces and sells 17,000 units, its average costs per unit are as follows:
| Average Cost per Unit | ||
| Direct materials | $ | 7.60 |
| Direct labor | $ | 4.60 |
| Variable manufacturing overhead | $ | 2.10 |
| Fixed manufacturing overhead | $ | 5.60 |
| Fixed selling expense | $ | 4.10 |
| Fixed administrative expense | $ | 3.10 |
| Sales commissions | $ | 1.60 |
| Variable administrative expense | $ | 1.10 |
Required:
1. Assume the cost object is units of production:
a. What is the total direct manufacturing cost incurred to make 17,000 units?
b. What is the total indirect manufacturing cost incurred to make 17,000 units?
2. Assume the cost object is the Manufacturing Department and that its total output is 17,000 units.
a. How much total manufacturing cost is directly traceable to the Manufacturing Department?
b. How much total manufacturing cost is an indirect cost that cannot be easily traced to the Manufacturing Department?
3. Assume the cost object is the company’s various sales representatives. Furthermore, assume that the company spent $52,700 of its total fixed selling expense on advertising and the remainder of the total fixed selling expense comprised the fixed portion of the company's sales representatives’ compensation.
a. When the company sells 17,000 units, what is the total direct selling expense that can be readily traced to individual sales representatives?
b. When the company sells 17,000 units, what is the total indirect selling expense that cannot be readily traced to individual sales representatives?
In: Finance