Lena Is 66 Years of Age, Single, and Blind and Is

question 105

Essay

Lena is 66 years of age, single, and blind and is not claimed as a dependent.How much gross income must she have before she is required to file a Federal income tax return for 2012?

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Definitions:

Factory Payroll

The total compensation paid to employees working within a manufacturing setting, including wages, salaries, and benefits.

Direct Labor

The wages and related costs of employees who are directly involved in the production of goods or services.

Direct Materials Cost

The cost of raw materials that can be directly traced to the production of goods, excluding indirect materials like maintenance supplies.

Finished Goods Inventory

Finished products awaiting sale but still not purchased.