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Add together the regular and overtime wages to determine total pay. In this example, Dave should receive a gross pay amounting to $715, which accounted for regular 40 hours and 10 hours of overtime worked. These employees are expected to…

QuickBooks Desktop generally offers more robust inventory management features than QuickBooks Online. If you have complex inventory needs, Desktop’s advanced tools will likely be a better fit. However, if your inventory needs are relatively simple, QuickBooks Online might suffice. If…

Bookkeeping can be a headache for big and small business owners —so much so that 46% of business owners what is erp key features of top enterprise resource planning systems said it was their least favorite task. The process of…

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Never underestimate the importance of deductions in the realm of taxation. We can ensure you have a full understanding of their impact. Despite seeming daunting, the recent updates to Form 1065 instructions are pretty straightforward. They mainly cover self-employment taxes…

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However, during the period cost rationalization measures were carried out and fixed overheads were reduced by minimizing inefficiencies resulting in an annual fixed overhead expense of $420,000. Actual production volume is the production that the company actually achieves (in hours)…

Manufacturing overhead does not include expenses incurred outside of inventory production. Though there’s no direct labor formula to follow, calculating direct labor is the most straightforward part of the calculation. Look at your payroll software and total the gross wages…

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