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Ellen supports her family as a self-employed attorney. She reports $90,000 of income on her Schedule C and pays $8,000 on health insurance for her family, $2,500 on dental insurance, $4,000 on health insurance for her 23-year-old daughter who is no longer a dependent, and $3,000 on disability insurance for herself. What is Ellen's self-employed health insurance deduction?
Answer
a. $8,000
b. $10,500
c. $12,000
d. $14,500
e. $13,500
Last year, Gransky Corporation's variable costing net operating income was $52,100 and its ending inventory increased by 400 units. Fixed manufacturing overhead cost was $7 per unit. What was the absorption costing net operating income last year?
Your client, a manufacturer of computer components has experienced slowing demand for its product. Recently, it cut back from three shifts a day to two shifts a day and the company has eliminated the backlog of orders that existed in prior years b..
Which of the following indicates that a company may benefit from an Activity-Based Costing system?
Prepare a separate Statement of Revenues, Expenditures, and Changes in Fund Balances for the Library Book Permanent Fund for the Year Ended December 31, 2012.
Therefore, the S corporation sells the assets, resulting in a $90,000 capital gain, and liquidates. Assuming that Phil is subject to a marginal tax rate of 30%, what taxes are due?
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Determine the actual and standard variable cost per bag of dog food produced, separated into direct materials. direct labor, and variable overhead.
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Of those started, 80,000 were finished and the remaining 40,000 were left 20% complete. Calculate the equivalent units of production for the year using the weighted average method.
Joyce Rescho is self-employed and uses the calendar year and the accrual method of accounting. She reports the following activities for December:
Watson Electric produces bulbs for emergency flashlights. The following data on the number of lumens (i.e. lumens measure the level of "brightness") for 40-watt bulbs were collected when the process was in control.
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