Sales 1800000
Less:
Variable Cost: 1080000
Contribution margin 720000
Fixed Cost: 570000
Net income 150000
Some do. Some don't. I don't recall exactly what the number is but I think if your income is less than about $13,000 you are not required to pay income tax. You can probably find the exact number at irs.gov.
The profit formula is: Q(S-V) - F = NI where Q is the quantity sold, S = Selling Price per unit, V = Variable Cost per unit, F = Fixed Cost and NI = Targeted Net Income To determine the number of units needed to be sold: Q = (NI + F)/(S - V) Then, the sales revenue would = Q(S)
If you got taxable income from them then they will have sent you a form with the amount of that income and the state ID number. If you did not receive such a form, you do not need that number.
State income tax payments are deductible on your federal income tax return. (You may deduct state income tax or sales tax, but not both.) Federal income tax payments are deductible on your state tax return in a tiny number of states.
Net Income = Gross Income - ExpensesIn cell A1, enter Gross Income.In cell B1, enter Expenses.In cell C1, enter the formula =A1-B1Observe the number in cell C1; that's your Net Income.
5700/(3.8/100) = 570000/3.8 = 150000
What comment can be made on number of meals = 570000/meals=278000?
To find 6.2 percent of a number, multiply the number by 0.062. In this instance, 0.062 x 150000 = 9300. Therefore, 6.2 percent of 150000 is equal to 9300.
(100,000 + 200,000) ÷ 2 = 150,000
150000
1,650,000
150000-400000
In this word problem, think of "is" as an equal sign and "of" as a multiplication sign. "What" would be the variable. Therefore, the problem translated into math is: A = 0.035 x 150000, where 0.035 is the same as 3.5%.
Anything from 150000 to 249999
To find 4 percent of a number, multiply the number by 0.04. In this instance, 0.04 x 150000 = 6000. Therefore, 4 percent of 150000 is equal to 6000.
75000 (seventy-five thousand). To find 50 percent of a number, divide the number by two.
Anything from 150000 to 249999 to the nearest hundred thousand.