Answer the Following Question(s)using the Information Below

question 162

Multiple Choice

Answer the following question(s) using the information below.Gabe's Auto produces and sells an auto part for $30.00 per unit.In 2012, 100,000 parts were produced and 75,000 units were sold.Other information for the year includes:

-What is the inventoriable cost per unit using variable costing?

• A)$14.25
• B)$15.00
• C)$18.75
• D)$20.10
• E)$20.00

Understand the conditions and limits of the earned income credit (EIC) for taxpayers with and without children.

Recognize the application and calculation of foreign tax credits to avoid double taxation.

Determine the eligibility and amount of the adoption credit based on AGI and qualified adoption expenses.

Understand the requirements for claiming the child tax credit and its phase-out based on AGI.

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Definitions:

Marginal Benefit

The additional benefit obtained from consuming one more unit of a product or service.

Marginal Benefit

The additional benefit received from consuming one more unit of a product or service.

Total Benefit

The overall advantages or gains received from a good or service, including both tangible and intangible elements.

Football Games

Organized sporting events involving two teams playing football (soccer in some countries) under a set of rules to score goals against each other.