Use the Following Two Columns of Items to Answer the Matching

question 115

Short Answer

Use the following two columns of items to answer the matching questions below:
-SEP
A)a defined contribution plan for small firms (1-10 employees)
B)a defined contribution plan in which the employer contributes to employee retirement accounts based on a specified profit formula
C)a defined contribution plan that allows employees to contribute up to $18,500 per year in 2018 on a pre-tax basis
D)a retirement plan in which the employer contributes its own stock to the employee's retirement account

• A)a defined contribution plan for small firms (1-10 employees)
• B)a defined contribution plan in which the employer contributes to employee retirement accounts based on a specified profit formula
• C)a defined contribution plan that allows employees to contribute up to $18,500 per year in 2018 on a pre-tax basis
• D)a retirement plan in which the employer contributes its own stock to the employee's retirement account

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Definitions:

Variable Production Costs

Costs that vary directly with the level of production output, such as raw materials and direct labor.

Absorption Costing

An accounting method that includes all manufacturing costs, both variable and fixed, in the cost of producing each unit of a product.

Variable Costing

An accounting method that only allocates variable costs to the inventory; fixed manufacturing overhead is expensed as incurred.

Cost Structure

The composition of a company's costs, both fixed and variable, that are incurred in the operation of its business.