Deduction of Taxes. Joyce is a single, cash-method taxpayer. On April 11, 2014, Joyce paid
$120 in state income taxes with her 2013 state income tax return. During 2014, Joyce had
$1,600 in state income taxes withheld. On April 13, 2015, Joyce paid $200 with her 2014
state tax return. During 2015, she had $2,100 in state income taxes withheld from her pay-
check. Upon filing her 2015 tax return on April 15, 2016, she received a refund of $450 for
excess state income taxes withheld. Joyce had total AGI in 2015 and 2016 of $51,000 and
$53,500, respectively. In 2015, Joyce also paid $5,500 in qualified residence interest.
A What is the amount of state income taxes Joyce may include as an itemized deduction
for 2014?
B. What is Joyce’s allowed itemized deduction for state income taxes for 2015?
C. What is Joyce’s taxable income for 2015?
D. What is her AGI for 2016?

Michigan mattress company is considering the purchase of land and the construction of a new plant. the land, which would be bought immediately (at t = 0), has a cost of $100,000 and the building, which would be erected at the end of the first year (t = 1), would cost $500,000. it is estimated that the firm's afterminustax cash flow will increase by $100,000 starting at the end of the second year, and that this incremental flow would increase at a 10 percent rate annually over the next 10 years. what is the approximate payback period?

Greater concern for innovation and quality has shifted the job trend to using more broadly defined jobs. t/f

An important application of regression analysis in accounting is in the estimation of cost. by collecting data on volume and cost and using the least squares method to develop an estimated regression equation relating volume and cost, an accountant can estimate the cost associated with a particular manufacturing volume. consider the following sample of production volumes and total cost data for a manufacturing operation. production volume (units) total cost ($) 400 4000 450 5000 550 5400 600 5900 700 6400 750 7000 compute b 1 and b 0 (to 2 decimals if necessary). b 1 b 0 complete the estimated regression equation (to 2 decimals if necessary). = + x what is the variable cost per unit produced (to 1 decimal)? $ compute the coefficient of determination (to 4 decimals). note: report r 2 between 0 and 1. r 2 = what percentage of the variation in total cost can be explained by the production volume (to 2 decimals)? % the company's production schedule shows 500 units must be produced next month. what is the estimated total cost for this operation (to 2 decimals)? $