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Problem - In May 2021, Green & co produced 2,000 units at a cost of N$3/unit and sold 1,500 units at N$5.00/ unit. From the production process, the company produced 500 units of by-product D that need to be processed further at a cost of N$0.50/ unit before they were sold for N$2.50/unit. Green & co has the option of allocating the net sales of the by-product to the joint cost or to cost of goods sold. Calculate the difference in gross profit between the 2 options.
Tammy age 56 unmarried claims her elderly mother age 74 as a dependent. Tammy’s mother does not live with her but Tammy pays for almost all of the cost of maintaining her mother’s household. Tammy’s 2014 deduction is $
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