Which of the following is the correct sequence for computing net pay?
A) Compute gross pay then deduct withholding and add FICA taxes to obtain net pay.
B) Compute gross pay, compute FICA, deduct pre-tax amounts, and deduct taxes.
C) Compute gross pay, deduct taxes, and add voluntary deductions.
D) Compute gross pay, deduct pre-tax amounts, compute FICA, deduct taxes, and deduct post-tax amounts.
D) Compute gross pay, deduct pre-tax amounts, compute FICA, deduct taxes, and deduct post-tax amounts.
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Nesbit Co. has two operating (production) departments supported by a number of service departments. The following information was collected for a recent period: ? Direct Costs ??MachiningDepartmentAssemblyDepartmentIndirect CostSalaries$122,400$ 85,700$36,700Insurance 20,20011,0005,500Utilities 23,90013,9002,000Depreciation 20,70011,50013,800Maintenance 7,0004,70029,400Office expenses -0--0-71,100Cost of goods sold 327,600121,200?Indirect costs are allocated as follows: salaries on the basis of sales, office expenses on the basis of the number of employees, and all other costs on the basis of square footage. Additional information about the production departments follows:SquareNumber
ofFootageEmployees Machining14,53578Assembly4,84552Sales for the Machining Department are $724,404 and sales for the Assembly Department are $356,796. Determine the departmental contribution to overhead and the departmental net income for each production department. What will be an ideal response?
Focusing pricing objectives on sales growth can provide a measure of increasing market share as well as an incentive and target for managers for a period of time
Indicate whether the statement is true or false
The following are steps to the accounting cycle. Of the following, which step should be done first?
A) Closing entries are journalized and posted to the ledger. B) Transactions are posted to the ledger. C) Adjusting entries are journalized and posted to the ledger. D) Financial statements are prepared.
______ credibility refers to how the audience perceives you after your speech.
What will be an ideal response?