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Julien and Sarah are married,file a joint return,and have two children,Kaya and Christopher.Kaya just finished her third year at college and Christopher just finished his first year of graduate school (fifth year of college).Tuition and books for the past year were $1,800 for Kaya and $5,000 for Christopher.How much can Julien and Sarah claim in educational credits if their joint AGI was $126,000 for 2018?
Machine-Hours
A measure of the amount of time a machine is operated in the production process, often used in costing and budgeting.
Predetermined Overhead Rate
A rate calculated before an accounting period begins, used to allocate manufacturing overhead to individual jobs or units based on a consistent measure, such as direct labor hours.
Direct Labor-Hours
The total hours worked by employees directly involved in the production process, often used as a basis for allocating costs to products.
Machine-Hours
A measure of production time, reflecting the total hours that machinery is operational during a specific period.
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