Duke and pat collins have adjusted gross income of $358,000. they have itemized deductions of $20,000 consisting of $8,000 in medical expenses that exceed 10% of adjusted gross income, $3,000 in property taxes, $4,000 in housing interest, and $5,000 in miscellaneous itemized deductions that exceed 2 percent of adjusted gross income. what is the amount of their itemized deduction?

The following cost data pertain to the operations of montgomery department stores, inc., for the month of july. corporate legal office salaries $ 75,300apparel department cost of sales"evendale store $ 97,200corporate headquarters building lease $ 50,300store manager's salary"evendale store $ 12,900apparel department sales commission"evendale store $ 11,550store utilities"evendale store $ 12,800apparel department manager's salary"evendale store $ 10,450central warehouse lease cost $ 18,600janitorial costs"evendale store $ 11,800 the evendale store is just one of many stores owned and operated by the company. the apparel department is one of many departments at the evendale store. the central warehouse serves all of the company's stores. required: 1. what is the total amount of the costs listed above that are direct costs of the apparel department? 2. what is the total amount of the costs listed above that are direct costs of the evendale store? 3. what is the total amount of the apparel department's direct costs that are also variable costs with respect to total departmental sales?

You are an employee of an u.s. firm that produces personal computers in thailand and then exports them to the united states and other countries for sale. the personal computers were originally produced in thailand to take advantage of relatively low labor costs and a skilled workforce. other possible locations considered at that time were malaysia and hong kong. the u.s. government decides to impose punitive 100% ad valorem tariffs on imports of computers from thailand to punish the country for administrative trade barriers that restrict u.s. exports to thailand. how do you think your firm should respond? what does this tell you about the use of targeted trade barriers?

Why is efficiency an important economic goal?