Gunnie Inc produces and sells dog food. Each bag contains 20 pounds of dog food. Following additional information is provided by the company: Direct materials quantity standard 20 pounds per unit Direct materials price standard $0.02 per pound Direct labor time standard 0.1 hour per unit Direct labor rate standard $11.50 per hour Variable overhead rate standard $2.50 per machine hour Fixed
overhead rate standard $1.50 per machine hour Machine hour standard 0.25 hours per unit Compute the standard unit cost for each bag.
A) $2.55
B) $2.21
C) $2.15
D) $2.80
A
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During the current year, Kayla recognizes a $40,000 Section 1231 gain on sale of land and a $22,000 Section 1231 loss on the sale of land. Prior to this, Kayla's only Section 1231 item was a $10,000 loss six years ago. Kayla is in the 28% marginal tax bracket. The amount of tax resulting from these transactions is
During the current year, Kayla recognizes a $40,000 Section 1231 gain on sale of land and a $22,000 Section 1231 loss on the sale of land. Prior to this, Kayla's only Section 1231 item was a $10,000 loss six years ago. Kayla is in the 28% marginal tax bracket. The amount of tax resulting from these transactions is
A) $2,700.
B) $3,600.
C) $4,000.
D) $5,040.
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