Answer:
e. Working to ensure that all variances are favorable.
Explanation:
the steps in effective management of variance analysis
Identifying questions and their explanations
Preparing standard cost performance reports
Taking corrective and strategic actions
Computing and analyzing variances
So the option is E.
Working to ensure that all variances are favorable.
Answer:
D that's the correct trust me
Answer:
A company that establishes a profit-sharing plan must make annual contributions to the plan, even if the company fails to earn a profit during the year.
Explanation:
A profit sharing plan is defined as the type of contribution plan where the plan helps in saving for the retirement of the employees while providing them the flexibility of the plan features. It is a way for the owners of the business to share the profits with the investors and also a great way to attract investment in his business.
In a profit sharing plan, the organization does not have to make or contribute any amount to the plan annually. Such a plan is best suited for the companies which experiences a fluctuating cash flow.
Answer:
The total payroll tax expenses is $3139.5
See the prepared journal in the explanation below.
Explanation:
Before it is presented on a general journal, the calculation is done below;
1. Payroll tax expenses:
FICA Social Security taxes = 6.2% * 2300 * 10
= 0.062 * 2300 * 10
= $1,426
FICA Medicare taxes = 1.45% * 2300 * 10
= 0.0145 * 2300 * 10
= $333.5
FUTA taxes = 0.6% * 2300 * 10
= 0.006 * 2300 * 10
=$138
SUTA taxes = 5.4% * 2300 * 10
= 0.054 * 2300 *10
= $1242
Total payroll tax expenses = $1,426 + $333.5 + $138 + $1242
= $3139.5
Date General Journal Debit Credit
Jan. 31 Payroll tax expense $3139.5
FICA- Social sec. taxes payable $1,426
FICA- Medicare taxes payable $333.5
FUTA taxes payable $138
SUTA taxes payable $1242
(Payroll tax expense recognized)
