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3 years ago

Written laws that establish certain of conduct that must be adhered to by covered parties are called

1 answer:

6 0

The correct answer is C. Codes

such laws are called codified laws. Statues are similar but on a smaller scale and apply only to those who participate, while executive orders are created by the president in times of trouble.

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Hakara Company has been using direct labor costs as the basis for assigning overhead to its many products. Under this allocation

Anarel [89]

What are you asking in this question I’m just confused, could you write it in the comments

4 0

3 years ago

Select the correct answer.

atroni [7]

Answer:

D. to claim qualified expenses such as deductions or credits

Explanation:

To find - What is the purpose of a 1098 tax form?

Solution -

The correct option is - D. to claim qualified expenses such as deductions or credits

Reason -

Form 1098 T tuition statement is an american IRS tax form filed bu eligible educational institutions(or those filing on the institutional's behalf)

To report payments received and payments due from the paying students.

The institution has to report a form for every student that is currently enrolled and paying qualifying tuition and related expense.

7 0

3 years ago

Which of the following is NOT a common feature of a

insens350 [35]

Answer:

b I think it was the best answer

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3 years ago

Townson Company had gross wages of $200,000 during the week ended December 10. The amount of wages subject to social security ta

Lina20 [59]

Answer:

1. Dr Wages Expense200,000

Cr Social Security Tax Payable 10,800

Cr Medicare Tax Payable 3,000

Cr Employees Federal Income Tax Payable 32,000

Cr Wages Payable 154,200

2. Dr Payroll Tax Expense15,264

Cr Social Security Tax Payable10,800

Cr Medicare Tax Payable3,000

Cr State Unemployment Tax Payable 1,272

Cr Federal Unemployment Tax Payable 192

Explanation:

1. Preparation of Journal entry to record the payroll for the week of December 10.

Dr Wages Expense200,000

Cr Social Security Tax Payable 10,800

($180,000 x 6%)

Cr Medicare Tax Payable 3,000

($200,000 x 1.5%)

Cr Employees Federal Income Tax Payable 32,000

Cr Wages Payable 154,200

[200,000-(10,800+3,000+32,000)]

2) Preparation of the Journal entry to record the payroll tax expense incurred for the week of December 10.

Dr Payroll Tax Expense15,264

(10,800+3,000+1,272+192)

Cr Social Security Tax Payable10,800

Cr Medicare Tax Payable3,000

Cr State Unemployment Tax Payable 1,272

($24,000 x 5.3%)

Cr Federal Unemployment Tax Payable 192($24,000 x 0.8%)

6 0

3 years ago

Weston Products manufactures an industrial cleaning compound that goes through three processing departments—Grinding, Mixing, an

WINSTONCH [101]

Answer:

1. Grinding Department's equivalent units of production for materials and conversion in May.

materials : 395,000

conversion : 368,600

2. Grinding Department's costs per equivalent unit for materials and conversion for May.

materials : $2.35

conversion : $1.00

3. Grinding Department's cost of ending work in process inventory for materials, conversion, and in total for May.

materials : $2.35×88,000 = $206,800

conversion : $1.00×61,600 = $ 61,600

Total : = $268,400

4. Grinding Department's cost of units transferred out to the Mixing Department for materials, conversion, and in total for May.

materials : $2.35×307,000 = $ 721,450

conversion : $1.00×307,000 = $ 307,000

Total : = $1,028,450

Explanation:

1. Grinding Department's equivalent units of production for materials and conversion in May.

materials

Closing Work In Process Inventory 100% = 88,000

Completed and Transferred 100% = 307,000

Total = 395,000

conversion

Closing Work In Process Inventory 70% = 61,600

Completed and Transferred 100% = 307,000

Total = 368,600

2. Grinding Department's costs per equivalent unit for materials and conversion for May.

costs per equivalent unit = Total Cost / Total equivalent units

materials = ( $709,250+$219,000)/395,000

= $2.35

conversion = ( $280,600+$88,000)/368,600

= $1.00

3. Grinding Department's cost of ending work in process inventory for materials, conversion, and in total for May.

materials : $2.35×88,000 = $206,800

conversion : $1.00×61,600 = $ 61,600

Total : = $268,400

4. Grinding Department's cost of units transferred out to the Mixing Department for materials, conversion, and in total for May.

materials : $2.35×307,000 = $ 721,450

conversion : $1.00×307,000 = $ 307,000

Total : = $1,028,450

6 0

3 years ago