Which of the Following Is Not a Use of the Cost

question 135

Multiple Choice

Which of the following is not a use of the cost of production report?

• A) to help managers control operations
• B) to help managers isolate problems
• C) to project production
• D) to help managers improve operations

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Definitions:

FICA-OASDI Payable

The amount owed by an employer or employee for Social Security and Medicare taxes, to be paid to the IRS.

FUTA Payable

A liability account that records the amount owed by a company for the Federal Unemployment Tax Act contributions, payable to the federal government.

SUTA Payable

A liability account that records amounts owed for the state unemployment tax.

Social Security Administration

A U.S. government agency that administers social programs covering disability, retirement, and survivors' benefits, among others.