Wages paid to production supervisors would be classified as manufacturing overhead.
Answer the following statement true (T) or false (F)
True
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A department may gather operating expense data by maintaining
a. direct expenses. b. indirect expenses. c. amounts allocated to each department. d. total operating expenses for each department.
Lori, a calendar year individual taxpayer, files her 2018 return on February 10, 2020. She had obtained a six-month extension for filing her return. There was additional income tax of $30,000 due with the return. a.What are Lori’s penalties for failure to file and to pay? b.Would your answer to a. change if Lori, before the due date of the return, had retained a CPA to prepare the return and it was the CPA’s negligence that caused the delay?
What will be an ideal response?
A Nike salesperson is informed by a retailer that ten pairs of shoes are damaged and cannot be sold. After looking at the merchandise, the salesperson determines the damage occurred during the packaging process. What should the Nike salesperson do to handle this situation?
A. Return the merchandise and provide a refund. B. Try to convince the customer to buy some new merchandise. C. Help the customer dump the unsalable inventory. D. Inform the client that these kinds of losses are common in retail business. E. Apologize to the client and state that the problem will not happen in the future.
Total compensation does NOT include:
A. allowances B. relational returns C. base pay D. insurance benefits E. incentives