Match the Terms That Follow with the Correct Definitions

question 95

Multiple Choice

Match the terms that follow with the correct definitions.
-Tax form that shows the employee's annual gross earnings and the taxes withheld

• A)Form W-4
• B)SUTA tax
• C)Employee's individual earnings record
• D)Worker's compensation insurance
• E)Form 940
• F)FICA Medicare
• G)Form 941
• H)FUTA tax
• I)Form W-3
• J)Form W-2

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Definitions:

Job-Order Costing

A costing system used to accumulate costs for individual jobs or orders, typically used when products or services are distinct and customized.

Predetermined Overhead Rate

A rate calculated before a period begins, used to allocate estimated overhead costs to products or job orders based on a selected activity base.

Automated Jointer

A machine tool used in woodworking that automatically creates a flat surface along the length of a board or piece of lumber.

Gross Margin

The difference between sales revenue and cost of goods sold, expressed as a percentage of sales revenue, indicating the financial health of sales.