Cash flow from operations includes all of the following adjustments to net income EXCEPT
A) purchases of new equipment.
B) depreciation.
C) increase or decrease in current liabilities.
D) increase or decrease in current inventory.
Answer: A
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Sweet Dreams manufactures candy. Its records revealed the following data: Number of units produced 4,000 Standard direct labor hours per unit 2 Standard variable overhead rate $2.50 per hour Standard fixed overhead rate $5.00 per hour Budgeted fixed overhead costs $40,800 Actual variable overhead costs $16,800 Actual fixed overhead costs $40,400 Actual labor hours 8,000 direct labor hours Total
actual overhead $57,200 The total fixed overhead variance is a. $800 (F). b. $800 (U). c. $400 (U). d. $400 (F).
The U.S. Department of Agriculture places mandatory and consistent labeling requirements on ________
A) ready-to-eat meals B) raw fruits and vegetables C) raw seafood D) meat and poultry products
Karl, an employee of Smith Electric, Inc, has gross salary for March of $4,000
The entire amount is under the OASDI limit of $117,000 and thus subject to FICA. He is also subject to federal income tax at a rate of 18%. Karl has a deduction of $320 for health insurance and $80 for United Way. Provide the journal entry to record salaries expense and payroll withholdings. (Assume a FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45%.) What will be an ideal response
Which of the following individuals would definitely not qualify for survivors' benefits under Social Security?
A) Widower of divorced spouse B) Child of deceased worker under age 18 C) Disabled child of deceased worker over age 18 D) Dependent parent of deceased worker E) It is possible that under certain circumstances any of the above may qualify for survivor's benefits.