The following cost data relate to the manufacturing activities of black company during the just completed year: manufacturing overhead costs: property taxes, $3000utilities, 5000indirect 1depreciation, 24000insurance, 6000total actual manufacturing overhead 48000other cost incurred: purchases of raw 32000direct labor 4inventories: raw materials, 8000raw materials, 7000work in process, 6000work in process, 7500the company uses a predetermined overhead rate to apply overhead cost to jobs. the rate for the year was $5 per machine hour; a total of 10,000 machine hours was recorded for the year. all raw materials ultimately become direct materials-- none are classified as indirect materials. required: 1. compute the amount of underapplied or overapplied overhead cost for the year.2. prepare a schedule of cost of goods manufactured for the year.

What happens when a bank is required to hold more money in reserve?

The face of a company is often that of the lowest paid employees who meet the customers. select one: true false

James jones is the owner of a small retail business operated as a sole proprietorship. during 2017, his business recorded the following items of income and expense: revenue from inventory sales $ 147,000 cost of goods sold 33,500 business license tax 2,400 rent on retail space 42,000 supplies 15,000 wages paid to employees 22,000 payroll taxes 1,700 utilities 3,600 compute taxable income attributable to the sole proprietorship by completing schedule c to be included in james’s 2017 form 1040. compute self-employment tax payable on the earnings of james’s sole proprietorship by completing a 2017 schedule se, form 1040. assume your answers to parts a and b are the same for 2018. further assume that james's business is not a service business, and that it has $155,000 unadjusted basis in tangible depreciable property. calculate james's 2018 section 199a deduction.