Alan and Sara Winthrop Are a Married Couple Who File

question 136

Multiple Choice

Alan and Sara Winthrop are a married couple who file a joint income tax return.They have two children,so they claim a total of 4 exemptions ($4,050 for each exemption) .In addition,they have legitimate itemized deductions totaling $25,750.Their total income from wages is $213,900.Assume the following tax table is applicable:
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Married Couples Filing Joint Returns
? $\begin{array}{lccc} & \text { You Pay This } & \text { Plus This Percentage } & \text { Average Tax } \\\text { If Your Taxable } & \text { Amount on the } & \text { on the Excess over the } & \text { Rate at } \\\text { Income Is } & \text { Base of the Bracket } & \text { Base } & \text { Top of Bracket } \\\hline\text { Up to } \$ 18,650 & \$ 0.00 & 10.0 \% & 10.0 \% \\\$ 18,650-\$ 75,900 & 1,865.00 & 15.0 & 13.8 \\\$ 75,900-\$ 153,100 & 10,452.50 & 25.0 & 19.4 \\\$ 153,100-\$ 233,350 & 29,752.50 & 28.0 & 22.4 \\\$ 233,350-\$ 416,700 & 52,222.50 & 33.0 & 27.1 \\\$ 416,700-\$ 470,700 & 112,728.00 & 35.0 & 28.0 \\\text { Over } \$ 470,700 & 131,628.00 & 39.6 & 39.6\end{array}$
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What is their marginal tax rate?
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• A) 33.0%
• B) 35.0%
• C) 10.0%
• D) 28.0%
• E) 15.0%

Comprehend the lean business model, including its main idea of eliminating waste and practices for continuous improvement.

Distinguish between managerial and financial accounting, focusing on their objectives and reporting requirements.

Recognize the importance of control measures in management, including performance reports and the PDCA Cycle.

Identify the importance and characteristics of total quality management in enhancing organizational performance.

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Definitions:

Direct Suggestion

A straightforward recommendation or proposal made to influence decision-making.

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The warmest period of the year, typically occurring between June and August in the northern hemisphere.

Empathetic Suggestion

Offering advice or recommendations by understanding and sharing the feelings of another person.