The Suppliers and Production Component of the Value Chain Would

question 52

Multiple Choice

The suppliers and production component of the value chain would include all of the following costs except:

• A)Direct production labor.
• B)Production set-up.
• C)Salaries for sales personnel.
• D)Receipt of direct materials from suppliers.

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Definitions:

Form 941

A tax form used by employers to report federal withholdings from employee wages, including Social Security and Medicare taxes.

FUTA Tax Payable

A liability representing the federal unemployment tax that employers must pay on behalf of their employees to the IRS.

Payroll Tax Expense

The cost incurred by employers for taxes assessed on employee wages, including social security and medicare taxes.

Payroll Checking

A dedicated bank account used by businesses specifically for managing and issuing payroll to employees.