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An S corporation has the following information for its taxable year: Net ordinary income before the items below are considered $65,000 Z, a 50 percent owner, performs services for the business.Z's self-employment income from the corporation, which is subject to self-employment tax, is
Variable Costs
Costs that vary directly with the level of production or output, such as materials and labor, contrasted with fixed costs.
Indirect Costs
Expenses not directly tied to the production of goods or services, such as rent, utilities, and administrative salaries.
Direct Costs
Costs that can be directly attributed to a specific product or cost object without needing allocation.
Joint Costs
Expenses incurred in the process of producing two or more products at the same time, which cannot be easily attributed to individual products.
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