Answer
$31,000
Explanation:
(c) $31,000
Explanation:
As per IRS for Earnings of Clergy, A licensed, commissioned, or ordained minister who performs ministerial services as an employee may be able to exclude from gross income the fair rental value of a home provided as part of compensation (a parsonage) or a housing allowance provided as compensation if it is used to rent or otherwise provide a home. In order to be able to exclude the housing allowance from income, the minister's employing organization must officially designate the housing allowance as such before paying it to the minister.The fair rental value of a parsonage or the housing allowance is excludable only for income tax purposes, and not for Self-employment tax purpose.
In the given case, the church did not designate any of Luke's salaries as a housing allowance. Hence it is not deductible from Gross Income for Income Tax Purposes and irrespective of designation or not, it is not deductible for self-employment tax.
Thus, Full salary of Luke i.e $31,000 must be included when figuring net income for self-employment tax.
Answer:
Contribution margin per pound
K1 - $16.90
S5 - $8.60
G9 - $10.40
Explanation:
Both sales and variable cost are dependent on the number of units sold.
The sales less the variable cost gives the contribution margin. The contribution margin less the fixed cost gives the net operating income.
The contribution margin per pound for each of the three products is the ratio of the contribution margin per unit of a product to the number of pounds required per unit of that product.
K1 S5 G9
Selling price $147.39 $112.64 $215.56
Variable costs $95.00 $92.00 $149.00
Contribution margin $52.39 $20.64 $66.56
Pounds per unit 3.1 2.4 6.4
Contribution margin/pound $16.90 $8.60 $10.40
Answer:
Ease of entry into the market
Explanation:
A perfect competition is characterised by many buyers and sellers of homogenous goods and services.
In the long run, perfect competition make zero economic profit because if firms are making economic profits in the short run , new firms would enter into the industry in the long run. This is made possible because of the ease of entry into the market.
I hope my answer helps you
Answer:
(2) consult others before making a decision.
Before I make a recommendation, I will consult my team members. Individually, some may have new ideas and modifications which we can incorporate into the project to even beat the competition and cause management to continue supporting the project.
Explanation:
Even though our competitor's "product appears to utilize radical new design principles that expand the functionality of the product," we can still modify our product. This will not only incorporate the features of our competitor's product, but also further introduce new features that will emanate from the challenge from competition.
This is where the SCRUM framework becomes important. This framework for project management emphasizes teamwork, accountability, and iterative progress toward a well-defined goal, while allowing for tweaks.
Developing this project based on this framework must have made it possible for us to receive the report from the marketing department in the first place. The principles of Scrum are Openness, Respect, Courage, Commitment, and Focus. So, the best we can do will be to prioritize, come up with new improvement ideas, and convince top management not to cancel the project.
