Use the Information Below to Answer the Following Question(s)

question 191

Multiple Choice

Use the information below to answer the following question(s) .Montreal Industries Inc.had the following activities during the year:

-What is Montreal's cost of direct materials used during the year?

• A)$204,000
• B)$178,000
• C)$128,000
• D)$24,000
• E)$218,000

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Definitions:

Withheld

pertains to the portion of an employee's income that an employer retains as a prepayment for taxes to the government.

FUTA

Federal Unemployment Tax Act, a United States federal law that imposes a payroll tax on employers to fund state workforce agencies.

Withheld

Refers to a portion of an employee's wages or salary that is not immediately paid out but is instead held back, commonly for tax purposes.

Matched by Employer

Contributions made by an employer to match the amount an employee contributes to their retirement plan or similar benefit program.