Orange, Inc., a calendar year corporation, elects S corporation status for 2020. The company generated a $335,200 NOL in 2019 and another NOL of $201,120 in 2020. Orange recorded no other transactions for the year. At all times in 2019 and 2020, the stock of the corporation is owned by the same four shareholders, each owning 25% of the stock. Pete, one of the shareholders, holds a $26,816 basis in the Orange stock at the beginning of 2020. Complete the statement below that outlines the Federal income tax issues that Pete faces.
The 2020 C corporation NOL of $74,000 forward into the S corporation year. Therefore, the deductible loss in 2020 by Pete is $ , with a $ carryover.

Wren pork company uses the value basis of allocating joint costs in its production of pork products. relevant information for the current period follows: product pounds price/lb. loin chops 3,000 $ 5.00 ground 10,000 2.00 ribs 4,000 4.75 bacon 6,000 3.50 the total joint cost for the current period was $43,000. how much of this cost should wren pork allocate to loin chops?

Oerstman, inc. uses a standard costing system and develops its overhead rates from the current annual budget.the budget is based on an expected annual output of 120,000 units requiring 480,000 direct labor hours.(practical capacity is 500,000 hours)annual budgeted overhead costs total $772,800, of which $556,800 is fixed overhead.a total of 119,300 units, using 478,000 direct labor hours, were produced during the year.actual variable overhead costs for the year were $260,400 and actual fixed overhead costs were $555,450.required: 1. compute the fixed overhead spending variance and indicate if favorable or unfavorable.2. compute the fixed overhead volume variance and indicate if favorable or unfavorable.

What historical context does wiesel convey using the allusion of a fiery sky? he compares the sky to hell. the fires from air raids during world war ii the cremation of jews in the concentration camps the outbreak of forest fires from bombs in world war ii