MrAnd MrsThibodeaux (Both Age 35),who Are Filing a Joint Return,have Adjusted

question 43

Multiple Choice

Mr.and Mrs.Thibodeaux (both age 35) ,who are filing a joint return,have adjusted gross income of $75,000.During the tax year,they paid the following medical expenses for themselves and for Mrs.Thibodeaux's mother,Mrs.Watson (age 63) .Mrs.Watson provided over one-half of her own support.

Mr.and Mrs.Thibodeaux received no reimbursement for the above expenditures.What is the amount of their deductible itemized medical expenses?

• A) $1,900
• B) $2,000
• C) $4,100
• D) $9,400

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Definitions:

Factory Overhead

All indirect costs associated with manufacturing a product, including the costs of running the factory but excluding direct materials and direct labor.

Journalize

The process of recording transactions in a company's journal as part of the accounting cycle.

April

The month that comes fourth in the Gregorian calendar year.

Factory Overhead

All indirect costs, including indirect materials, labor, and expenses, incurred during the manufacturing process.