You are a new accounting intern at Allterrain Bikes. Your boss gives you the following information and asks you to compute the cost of direct materials used (assume that the company s raw materials inventory contains only direct materials). Purchases of direct materials $15,600 Import duties $ 900 Freight-in $ 600 Freight-out $ 500 Ending raw materials inventory $ 2,000 Beginning raw materials inventory $ 3,900
Compute direct materials used.

Jacob is a member of wcc (an llc taxed as a partnership). jacob was allocated $155,000 of business income from wcc for the year. jacob’s marginal income tax rate is 37 percent. the business allocation is subject to 2.9 percent of self-employment tax and 0.9 percent additional medicare tax. (round your intermediate calculations to the nearest whole dollar a) what is the amount of tax jacob will owe on the income allocation if the income is not qualified business income? b) what is the amount of tax jacob will owe on the income allocation if the income is qualified business income (qbi) and jacob qualifies for the full qbi duduction?