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GarryVolchara [31]
3 years ago
9

Lightning Electronics is a midsize manufacturer of lithium batteries. The company’s payroll records for the November 1–14 pay pe

riod show that employees earned wages totaling $66,000 but that employee income taxes totaling $8,600 and FICA taxes totaling $3,425 were withheld from this amount. The net pay was directly deposited into the employees’ bank accounts. 1. What was the amount of net pay? 2. Assuming Lightning Electronics must also pay $410 of unemployment taxes for this pay period, what amount would be reported as the total payroll costs?
Business
1 answer:
Eddi Din [679]3 years ago
3 0

Answer:

1. Net pay = $53,975

2. Total payroll costs = $66,000

Explanation:

1. What was the amount of net pay?

Net pays = Total wages - Total income taxes - Total Federal Insurance Contributions Act (FICA) taxes = $66,000 - $8,600 - $3,425 = $53,975

2. Assuming Lightning Electronics must also pay $410 of unemployment taxes for this pay period, what amount would be reported as the total payroll costs?

Total payroll costs = Total wages paid to employees = $66,000

Note that $410 is not part of the amount that relates to the employee payment but just a tax required by the government for the unemployed.

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Suppose autos cost consumers $30,000 and trucks cost consumers $15,000. What contribution does the production of 200 autos and 2
alexgriva [62]

Answer:

the  contribution made to the production of 200 autos and 200 trucks is $9,000,000

Explanation:

The computation of the contribution made to the production of 200 autos and 200 trucks is shown below

Contribution to GDP is

= $30,000 × 200 + $15,000 × 200

= $6,000,000 + $3,000,000

= $9,000,000

Hence, the  contribution made to the production of 200 autos and 200 trucks is $9,000,000

6 0
3 years ago
A woman is shopping with her three children. She is carrying several items and does not have a shopping basket. She is still bro
dlinn [17]

Answer: The women customer either complain to the supervisors to address her issue immediately nor the employee should apologize to the woman and provides a shopping basket to her.

Explanation:

In every supermarket, All employees of the shop have the duties and responsibilities to serve the customers' needs without any delay in time.  Consumer rights should be always ensured to protected in all the shops irrespective of the size of the business as well the employees count. The consumer has all rights to raise the complaint to the direct supervisors in the market.

In this case, Woman's customer has experienced the pain as she cannot able to get a basket to hold the items. As she needs to take care of her children, Her request needs to fulfilled without any delay. Mutual consent with the ethics of the shop needs to tie up the bonding relationship between employees and consumers. At last, if the employee apologizes for her mistake and helps the woman by providing basket will end in the peaceful business transactions in the supermarket.  

3 0
3 years ago
Phoenix Agency leases office space for $7,000 per month. On January 3, Phoenix incurs $65,000 to improve the leased office space
Daniel [21]

Answer:

correct option is $13,000

Explanation:

given data

leases office = $7,000 per month

Phoenix incurs = $65,000

yield benefits = 8 years

remaining on its lease = 5 years

solution

we know that The cost of leasehold improvement is depreciate whichever is less    

(a)  Remaining Lease Term      

(b) estimated useful life of improvement

so Annual depreciation of Leasehold Improvement will be here

Annual depreciation of Leasehold Improvement = \frac{65000}{5}

Annual depreciation of Leasehold Improvement = $13,000

so correct option is $13,000

4 0
3 years ago
Which component of owners’ equity does the situation below indicate? Owners’ equity includes , ______ which is the amount of pro
Gemiola [76]

Answer:

Retained earning

Explanation:

A company's profits are distributed to shareholders as dividends, retained in the business for reinvestment, or both. Therefore, retained earning are profits that were not distributed to shareholders. They are funds that belong to owners but withheld for use in the business.

Retained earnings form part of a company's capital. It is money that shareholders have contributed to the business by not sharing in profits.

8 0
3 years ago
City councilwoman has proposed amending the living wage law. she suggests reducing the minimum wage to​ $6 per hour. assuming th
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0 thousands of the people would be unemployed at a $6 minimum wage. It is because at a wage of $6 per hour which is the minimum wage per  hour <span>the quantity demanded of workers is higher than the quantity supplied of workers. The quantity demanded of the workers will be high than the quantity supplied of the workers.</span>
6 0
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