Income Tax Fundamentals 2020 (with Intuit Proconnect Tax Online)
Income Tax Fundamentals 2020 (with Intuit Proconnect Tax Online)
38th Edition
ISBN: 9780357108239
Author: Gerald E. Whittenburg, Martha Altus-Buller, Steven Gill
Publisher: Cengage Learning
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Chapter 9, Problem 16MCQ
To determine

Concept Introduction:

The FUTA taxes: The Federal unemployment tax is paid by employers and not withheld from the employee’s wages. The calculation of the federal unemployment tax rate is calculated on employee’s wages up to $7,000 with 6 percent.

To explain: the FUTA tax

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Tremont Manufacturing produced 3,500 units of finished goods requiring 15,400 actual hours at $18.75 per hour. The standard is 4.2 hours per unit of finished goods, at a standard rate of $19.00 per hour. Which of the following statements is true? a. The labor efficiency variance is $2,470 unfavorable. b. The total labor variance is $4,850 favorable. c. The labor rate variance is $3,850 favorable. d. The labor rate variance is $2,310 unfavorable. e. The labor efficiency variance is $4,940 favorable.
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