How much can Van include on his return as qualified medical expenses before limitation?
Van pays the following medical expenses this year:
• $1,500 for doctor bills for Van's son who is claimed as a dependent by Van's former spouse.
• $300 for Van's eyeglasses.
• $900 for Van's dental work.
• $3,800 for Van's face lift. Van, a newscaster, is worried about the wrinkles around his eyes.
A) $1,200
B) $2,400
C) $2,700
D) $6,500
C) $2,700
($1,500 + $300 + $900) = $2,700. The face lift is a cosmetic procedure and does not qualify.
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Identify the account below that is classified as an asset account:
A. Unearned Revenue B. Supplies C. Service Revenue D. Retained Earnings E. Accounts Payable
Answer the following statements true (T) or false (F)
1.In a public setting, our own behavior, and our attempts to influence the behavior of others, must always be reduced to focus on meeting public objectives and community needs. 2.Despite the conventional wisdom that public employees crave the security and structure of bureaucratic jobs, public servants are people who are motivated by their desire to make a difference in the lives of others. 3.Economic efficiencies may be created by privatizing and contracting out functions. 4.Enhancing governmental performance should be considered within the normative context of non-democratic values.
PM Manufacturing produces a chemical pesticide and uses process costing
There are three processing departments-Mixing, Refining, and Packaging. On January 1, the first department-Mixing-had no beginning inventory. During January, 40,000 fl. oz. of chemicals were started in production. Of these, 34,000 fl. oz. were completed, and 6,000 fl. oz. remained in process. In the Mixing Department, all direct materials are added at the beginning of the production process, and conversion costs are applied evenly through the process. The weighted-average method is used. At the end of the month, PM calculated equivalent units in the Mixing Department as shown below: EQUIVALENT UNITS Equivalent Units Equivalent Units Units accounted for Direct Materials Costs Conversion Costs Completed and transferred out 34,000 34,000 34,000 Ending work-in-process* 6,000 6,000 3,600 40,000 40,000 37,600 * Percent complete for direct materials costs: 100% Percent complete of completion for conversion costs: 60% During January, the Mixing Department incurred $49,000 in direct materials costs and $213,000 in conversion costs. How much was the cost per equivalent unit for materials and for conversion costs? (Use the weighted average method and round your answer to the nearest cent.) A) $8.17 per EP for direct materials and $5.33 per EUP for conversion costs B) $1.23 for materials and $6.26 for conversion C) $1.44 for materials and $6.26 for conversion D) $1.23 for materials and $5.66 for conversion
The Oil Spill Act:
a. Requires oil companies to obtain environmental clearance from the federal government and the city before entering a city's port. b. Requires double-hulled boats. c. Imposes generic liability tax for oil tankers. d. Existed before the Exxon Valdez spill. e. None of the above