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uysha [10]
3 years ago
10

During a recent shopping trip to Target, Carlie noticed that the store offered many Glad products, including many different type

s of trash bags and a large variety of food storage containers. For Glad, each of these two product groupings is an example of a____________
Business
1 answer:
Sauron [17]3 years ago
7 0

Answer:  product line

Explanation: In simple words, a product line refers to the process under which a producer groups its related products together. The product could be related on the basis of their use or any other such criteria.

In the given case,Glad was offering variety of different trash bags and food products on a single selling place.

Hence we can conclude that it is an example of product line .

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If cost of goods sold under FIFO was $8,000 and was $10,000 under LIFO, assuming a tax rate of 40%, how much tax savings resulte
Inessa05 [86]

Answer:

$800

Explanation:

The computation of the tax saving from using LIFO is shown below:

= Cost of goods sold under LIFO × tax rate  - Cost of goods sold under FIFO × tax rate

= $10,000 × 40% - $8,000 × 40%

= $4,000 - $3,200

= $800

By applying the above formula, the tax saving resulted from using the LIFO is $800 and the same is to be considered

3 0
3 years ago
As part of the initial screening for possible employment, a nuclear power company administers a psychological test that yields s
Law Incorporation [45]

Answer: It is called Minnesota Multiphasic Personality Inventory (MMPI)

Explanation:

The Minnesota Multiphasic  Personality Inventory is a clinical assessment tool widely accepted to measure and diagnose mental health disorders.

6 0
3 years ago
The use of the Certified Public Accountant title is regulated by Question content area bottom Part 1 A. state law through the li
marshall27 [118]

Answer:

1.C

Explanation:

tama po yan

(- -) (- -)

✓ ✓

5 0
2 years ago
Prepare the journal entry to record Regis’s employer payroll taxes resulting from the January 8 payroll. Regis’s state unemploym
Vilka [71]

Answer:

1a.

FICA-Social Security 5,369.20

FICA-Medicare 1,255.70

FUTA 519.60

SUTA 4,676.40

1B.

Dr Office salaries expense 25,760.00

Dr Sales salaries expense 60,840.00

Cr FICA—Social sec. taxes payable 5,369.20

Cr FICA—Medicare taxes payable 1,255.70

Cr Employee fed. inc. taxes payable 12,760.00

Cr Employee medical insurance payable 1,440.00

Cr Employee union dues payable 780.00

Cr Salaries payable 64,995.10

2.

Dr Payroll taxes expense 11,820.90

Cr FICA—Social sec. taxes payable 5,369.20

Cr FICA—Medicare taxes payable 1,255.70

Cr State unemployment taxes payable 4,676.40

Cr Federal unemployment taxes payable 519.60

Explanation:

1a. Calculation for the amounts for each of these four taxes of Regis Company.

REGIS Company’s:

Tax January 8 earnings

Subject to tax ×Tax Rate= Tax Amount

FICA-Social Security

86,600× 6.20%= 5,369.20

FICA-Medicare 86,600×1.45%= 1,255.70

FUTA 86,600×0.60%=519.60

SUTA 86,600× 5.40% =4,676.40

1B. Preparation of the journal entry to record Regis Company's January 8 employee payroll expenses and liabilities

Jan 8

Dr Office salaries expense 25,760.00

Dr Sales salaries expense 60,840.00

Cr FICA—Social sec. taxes payable 5,369.20

Cr FICA—Medicare taxes payable 1,255.70

Cr Employee fed. inc. taxes payable 12,760.00

Cr Employee medical insurance payable 1,440.00

Cr Employee union dues payable 780.00

Cr Salaries payable 64,995.10

2. Preparation of the journal entry to record Regis's employer payroll taxes resulting from the January 8 payroll

Jan 8

Dr Payroll taxes expense 11,820.90

(5,369.20+1,255.70+4,676.40+519.60)

Cr FICA—Social sec. taxes payable 5,369.20

Cr FICA—Medicare taxes payable 1,255.70

Cr State unemployment taxes payable 4,676.40

Cr Federal unemployment taxes payable 519.60

Calculation for the amount Subject to tax

Office salaries $25,760

Sales salaries $60,840

Subject to tax=$86,600

4 0
3 years ago
A reversing entry is the exact opposite of an adjusting entry made in a previous period. is made when a business disposes of an
Ulleksa [173]

Answer: A reversing entry: <em><u>"is the exact opposite of an adjusting entry made in a previous period.".</u></em>

<em><u /></em>

Explanation: Reversion entries are an end-of-the-year technique that involves the reversal, on the first day of the new accounting period, of those end-of-year adjustment entries that cause expenses or income and therefore will result in payments or cash receipts. Its purpose is to allow company personnel to record routine transactions in a standard manner without referring to previous adjustment entries.

7 0
2 years ago
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