Answer:
a. work in process inventory
Explanation:
In Business, an inventory is a term used to describe a list of finished goods, goods still in the production line and raw materials that would be used for the manufacturing of more goods in a bid to meet the unending consumer demands.
Simply stated, an inventory can be classified into three (3) main categories; finished goods, work in progress, and raw materials.
An inventory is recorded as a current asset on the balance sheet because it's primarily the most important source of revenue for a business entity.
Also, the three (3) main cost concept associated with an inventory are;
1. First In First Out (FIFO).
2. Last In First Out (LIFO).
3. Weighted average cost.
Goods that are partially completed by a manufacturer are work in process (WIP) inventory.
Based on the fact that Derek does not itemize deductions, then his 2019 federal income tax is $7,540
<h3>What is the federal income?</h3>
With an AGI of $55,000, Derek is in the $40,126 to $85,525 tax bracket.
His tax is:
= $4,617.50 plus 22% of the amount over $40,125
= $4,617.50 + (22% x (50,000 - 40,125))
= $6,790
Capital gains tax:
= 5,000 x 15%
= $750
Total federal tax:
= 750 + 6,790
= $7,540
In conclusion, based on Derek's AGI and the qualified dividends, Derek's 2019 federal income tax was $7,540.
Find out more on federal income tax at brainly.com/question/21229522
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Answer:
A person in school with more authority than teachers
Explanation:
Principal = A person above teachers in school
Principle = An important rule or moral
Specific statements detailing what the organization intends to accomplish over a short period of time are called objectives. Objectives are stated by the company to keep goals on track and allow the organization to monitor their growth and completion. By keeping objectives open to everyone within the organization, it makes it easier for employees to stay on task and make sure by the end of the period, everything is done.
