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Marylee and George divorced in 2012 after 20 years of marriage during which time George gave up his career and stayed home with their children.In 2013,Marylee,the CEO of a mail order company,transfers their home valued at $450,000 and held in joint tenancy to George as part of the divorce settlement.She will also pay George $4,000 per month alimony and $6,000 per month in child support beginning in January of 2013.If George has no other income,what is his adjusted gross income for 2013?
Conversion Costs
All manufacturing costs other than direct material costs.
Absorption Costing
A method of inventory costing that includes all manufacturing costs - direct materials, direct labor, and both variable and fixed manufacturing overhead - in the cost of a product.
Direct Materials Costs
Costs directly traceable to the production of a product, including raw materials and component parts.
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