Actual operating cost method, Cost Accounting

Assignment Help:

On May 9th, David paid $34,500 (including sales tax) to purchase a used Audi A8 that he uses 90% of the time for business. No trade-in was involved. David uses the actual operating cost method to compute his tax deduction. His expenses relating to the A8 are as follows:

Gasoline $2,800
Auto insurance 1,250
Interest on car loan 750
Oil changes 425
Traffic violations 350
License and registration 150
Parking 90
Tolls 75

David drove the Audi 13,500 miles for business and 1,500 personal use miles.


Related Discussions:- Actual operating cost method

Differential cost analysis, Effects of differential cost analysis in decisi...

Effects of differential cost analysis in decision making

What is callable preferred stock, What is callable preferred stock? Why do ...

What is callable preferred stock? Why do corporations issue such stock? Given the different features that are associated with stock (callable, cumulative, preferred, etc.), what ty

Material cost control, Material Cost Control Therefore Materials form ...

Material Cost Control Therefore Materials form an important cost of output units and that should be controlled.  Material Control is more than merely recording the accounting

Determine the expected return, Imagine a world in which there are only two ...

Imagine a world in which there are only two investment assets: Hasbro Inc. Stock (HAS) and McDonalds stock (MCD). The table below lists annual total returns (%) for each of the las

measure the idle time variance, PH plc operates a modern factory that chan...

PH plc operates a modern factory that changes chemicals into fertilizer. Due to the the demand for  its product  is  seasonal,  the  company expects  that  there will be an average

Calculate direct materials used, Advertising expense $17,200 Wages expense-...

Advertising expense $17,200 Wages expense-assemblers 36,840 Depreciation expense-machines 21,480 Utilities expense-factory 21,120 Wages expense-lathe operators 23,480 Repair expens

Cost units - terms used in cost accounting, Cost Units - Terms Used in Cost...

Cost Units - Terms Used in Cost Accounting It is the quantitative units of the service or product in relation to those costs are ascertained. The cost unit will be determined

Relationship between cost accounting and business enterprise, Relationship ...

Relationship between Cost Accounting and Business Enterprise Cost accounting, like will be mentioned later to adopts a cost center approach to accounting for costs. A cost cen

Administration costs budget, Administration Costs Budget This represe...

Administration Costs Budget This represents the costs of all administration expenses. Every department or budget centre will be responsible for the preparation of its own bud

absorption costing principles, Determine the  factors  that distinguish pr...

Determine the  factors  that distinguish profit  calculated according  to  (a) marginal  costing and  (b) absorption costing principles.

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd