For the current year, Diana Clark had salary income of $38,000. In addition, she had the following capital transactions during the year: Long-term capital gain $14,000 Short-term capital gain 6,000 Long-term capital loss (4,000) Short-term capital loss (8,000) There were no other items includible in her gross income. What is her adjusted gross income for the year

Her adjusted gross income for the year is $46,000

Explanation: To calculate her adjusted gross income, we determine the net value of her long-term capital gain and loss, and also the net value of her short-term capital gain and loss.

The Net of her  short-term capital will be (short-term capital gain ($6,000) - short-term capital loss($8,000) = $2,000

The net of her long-term capital will be (long-term capital gain ($14,000) - long-term capital loss ($4,000) = $10,000

The net capital gain will now be net long-term capital $10,000 - net short-term capital $2,000 = $ 8,000

The adjusted gross wages will be Wages $38,000 + net capital gain$8,000 = $46,000

lbc corporation makes and sells a product called product wz. each unit of product wz requires 4.1 hours of direct labor at the rate of $20.00 per direct labor-hour. management would like you to prepare a direct labor budget for june. the company plans to sell 28,000 units of product wz in june. the finished goods inventories o