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Question
An employee earned $128,500 working for an employer in the current year. The current rate for FICA Social Security is 6.2% payable on earnings up to $117,000 maximum per year and the rate for FICA Medicare 1.45%. The employer's total FICA payroll tax for this employee is:A.$9,117.25.
B.$9,830.25.
C.$879.75.
D.$8,950.50.
E.$0, since the FICA tax is only deducted from an employee's pay.
Answer
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Q:
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Direct labor X X
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Variable manufacturing overhead
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Direct materials
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Match the following
Q:
Given the following data, calculate product cost per unit under variable costing.
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Total fixed overhead $85,000
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Q:
Tim's Tools, a manufacturer of cordless drills, began operations this year. During this year, the company produced 20,000 units and sold 18,000 units. At year-end the company reported the following income statement using absorption costing:
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Q:
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Q:
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E. $21,560
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Given the Cool Pools Company data, what is net income using absorption costing?
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Given the Galaxy, Inc. data, what is net income using absorption costing?
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