121. A agency approximates that warranty price will certainly be 4% of sales. The company"s sales for the present duration are $185,000. The present period"s enattempt to document the warranty cost is: A. Warranty Expense...........................................7,400Sales.............................................................7,400B. Warranty Expense.......................................7,400Estimated Warranty Expense................................................7,400C. Estimated Warranty Licapability.................................7,400Estimated Warranty Expense..............................................................................7,400D. Warranty Licapability............................7,400Cash..................................................................7,400 E. No enattempt is taped until the items are went back for warranty repairs.

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122. A agency sells computer systems at a selling price of $1,800 each. Each computer system has actually a 2 year warranty that covers replacement of defective components. It is estimated that 2% of all computers sold will be returned under the warranty at an average cost of $150 each. During November, the firm marketed 30,000 computer systems, and also 400 computers were serviced under the warranty at a complete cost of $55,000. The balance in the Estimated Warranty Licapacity account at November 1 was $29,000. What is the company"s warranty price for the month of November? A. $26,000B. $45,000C. $55,000D. $60,000E. $90,000
123. Maryland Company type of supplies a bonus plan to its employees equal to 3% of net income. Maryland"s net income is meant to be $960,000. The amount of the employee bonus expense is estimated to be A. $27,961B. $28,800C. $29,000D. $29,691E. $30,000
124. A payroll register includes: A. Pay duration dates.B. Hours operated.C. Gross pay and net pay.D. Deductions.E. All of these.
125. The wage bracket withholding table is supplied to: A. Compute social defense withholding.B. Compute Meditreatment withholding.C. Compute federal income tax withholding.D. Prepare the W-4.E. All of these.
126. The amount of federal income tax withhosted from an employee"s wperiods is based on: A. Wages earned.B. Number of withholding allowances.C. Number of hrs functioned.D. Both A and also B.E. Both B and C.
127. A table that mirrors the amount of federal earnings taxation to be withheld from an employee"s pay is the: A. Form 941.B. Tax table.C. Wage bracket withholding table.D. W-2.E. W-4.
128. A one-of-a-kind financial institution account provided solely for the objective of paying employees, by depositing in the account each pay period an amount equal to the full employees" net pay and also drawing the employees" payroll checks on the account, is a(n): A. Federal depository financial institution account.B. Employee"s Individual Earnings account.C. Employees" bank account.D. Payroll register account.E. Payroll bank account.

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129. If a agency uses a distinct payroll bank account: A. The company does not need to issue paychecks.B. The firm draws one inspect for the entire payroll on the continual financial institution account and deposits it in the payroll bank account.C. The agency should usage a federal depository bank for the payroll financial institution account.D. There is no require for a payroll register.E. There is no should issue W-2"s.END.
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Managerial Accounting1fifth EditionRay H Garrison
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