Osprey Corporation, an accrual basis taxpayer, reported taxable income for 2020 and paid $40,000 on its estimated state income tax for the year. During 2020, the company received a $4,000 refund upon filing its 2019 state income tax return. The company filed its 2020 state income tax return in August 2021 and paid the $7,000 state income tax due for 2020. In December 2020, the company received a notice from the state tax commission that an additional $6,000 of income tax was due for 2018 because of an error on the return. The company acknowledged the error in December 2020 and paid the additional $6,000 in tax in February 2021. What is Osprey's 2020 Federal income tax deduction for state income taxes

The cost of the beginning work in process inventory was comprised of $3,000 of direct materials, $10,000 of direct labor, and $10,000 of factory overhead. costs incurred during the period were comprised of $15,000 of direct materials costs, and $100,000 of conversion costs. the equivalent units of production (eup) for the period were 9,000 for direct materials and 6,000 for conversion. the costs per eup were:

If jobs have been undercosted due to underallocation of manufacturing overhead, then cost of goods sold (cogs) is too low and which of the following corrections must be made? a. decrease cogs for double the amount of the underallocation b. increase cogs for double the amount of the underallocation c. decrease cogs for the amount of the underallocation d. increase cogs for the amount of the underallocation

Alarge university wanted to study the relationship between completing an internship during college and students' future earning potential. prom the same graduating class, they selected a random sample of 80 students who completed an internship and 100 students who did not complete an internship and examined their salaries five years after graduation. they found that there was a statistically higher mean salary for the internship group than for the noninternship group. which of the following interpretations is the most appropriate? a. there could be a confounding variable, such as student major, that explains the difference in mean salary between the internship and no internship groups. b. we cannot infer anything from these data since the distribution of salaries is likely right skewed. c. you cannot draw any valid conclusions because the sample sizes are different. d. more students should complete internships because having an internship produces a higher salary.