Alex and Myra Burg, married and filing joint income tax returns, derive their entire income from the operation of their retail candy shop. Their Year 5 adjusted gross income was $50,000. The Burgs itemized their deductions on Schedule A for Year 5. The following unreimbursed cash expenditures were among those made by the Burgs during Year 5: Repair and maintenance of motorized wheelchair for physically handicapped dependent child $ 300 Tuition, meals and lodging at special school for physically handicapped dependent child in the institution primarily for the availability of medical care, with meals and lodging furnished as necessary incidents to that care 1,200 Self-employment tax 7,650 Four tickets to a theater party sponsored by a qualified charitable organization; not considered a business expense; similar tickets would cost $25 each at the box office 160 Repair of glass vase accidentally broken in home by dog; vase cost $500 in Year 1; fair value $600 before accident and $200 after accident 90 Fee for breaking lease on prior apartment residence located 20 miles from new residence 500 Security deposit placed on apartment at new location 900 What amount should the Burgs deduct for self-employment tax in their itemized deductions on Schedule A for Year 5

Self-interest achieve society’s economic goals because producers know which goods consumers want the most. as consumers and producers exercise their freedom to act in their own self-interest, markets will produce the desired goods at the lowest possible cost. consumers and producers both operate based on society’s economic goals. consumers know which goods can be produced at the lowest cost. there is a wide variety of desired goods and services in a market system because producers determine what to produce. consumers change their minds frequently. there is always a need to produce something new and improved. individual wants are diverse. what is produced is ultimately determined by consumers, because if the goods offered are not what consumers want, consumers will not buy them. producers, because they are driven by profits. producers, because they determine what to produce. consumers, because they participate in marketing surveys.

Last year, johnson mills had annual revenue of $37,800, cost of goods sold of $23,200, and administrative expenses of $6,300. the firm paid $700 in dividends and had a tax rate of 35 percent. the firm added $2,810 to retained earnings. the firm had no long-term debt. what was the depreciation expense?

During the year, the delph company had no beginning or ending inventories and it started, completed, and sold only two jobs—job d-75 and job c-100. it provided the following information related to those two jobs: job d-75: molding fabrication total direct materials cost $ 375,000 $ 325,000 $ 700,000 direct labor cost $ 200,000 $ 160,000 $ 360,000 machine-hours 15,000 5,000 20,000 job c-100: molding fabrication total direct materials cost $ 300,000 $ 250,000 $ 550,000 direct labor cost $ 175,000 $ 225,000 $ 400,000 machine-hours 5,000 25,000 30,000delph had no overapplied or underapplied manufacturing overhead during the year. assume delph uses a plantwide overhead rate based on machine-hours.1-a. compute the predetermined plantwide overhead rate.1-b. compute the total manufacturing costs assigned to job d-70 and job c-200.1-c. if delph establishes bid prices that are 150% of total manufacturing costs, what bid price would it have established for job d-70 and job c-200? 1-d. what is delph's cost of goods sold for the year? assume delph uses departmental overhead rates based on machine-hours.2-a. compute the predetermined departmental overhead rates.2-b. compute the total manufacturing costs assigned to job d-70 and job c-200.2-c. if delph establishes bid prices that are 150% of total manufacturing costs, what bid price would it have established for job d-70 and job c-200? 2-d. what is delph's cost of goods sold for the year?