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1 year ago

Compensation paid in proportion to the number of units of personal output best describes:_______.

1 answer:

3 0

Compensation paid in proportion to the number of units of personal output best describes piece rates. When an employee is paid on a piece rate, they are paid per unit.

This means that the worker is paid based on how much is picked, packed, pruned, or made. The piece rate system boosts employee productivity by making sure they are focused on achieving their goals. A worker can be employed to work shifts that are paid hourly and on a piece rate basis.

An employee is compensated on a piece rate basis. This indicates that the amount picked, packed, pruned, or made determines the employee's compensation rate. Piece rates are used instead of the hourly or weekly pay rate when payment is made.

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Your client invested $10,000 in an interest-bearing promissory note earning an 11% annual rate of interest, compounded monthly.

REY [17]

Answer:

The correct answer is $21,522.04.

Explanation:

According to the scenario, the given data are as follows:

Present value = $10,000

Rate of interest = 11%

Rate of interest (r) ( compounded monthly) = 11% ÷ 12 = 0.00916

time period = 7 years

Time period ( compounded monthly) (t) = 7 × 12 = 84

So, we can calculate the future value by using following method:

FV = PV × ( 1 + r)^t

By putting the value, we get,

FV = $10,000 × ( 1 + 0.00916)^84

FV = $21,522.04

7 0

2 years ago

GREYUIT [131]

Answer:

Required a

April 5,

Merchandise $38,900 (debit)

Accounts Payable ; Culver Company $38,900 (credit)

April 6

Freight Cost $800 (debit)

Cash $800 (credit)

April 7

Equipment $39,900 (debit)

Accounts Payable $39,900 (credit)

April 8

Accounts Payable ; Culver Company $5,000 (debit)

Merchandise $5,000 (credit)

April 15

Accounts Payable ; Culver Company $33,900 (debit)

Discount Received $678 (credit)

Cash $33,222 (credit)

Required b.

Accounts Payable ; Culver Company $33,900 (debit)

Cash $33,900 (credit)

Explanation:

When Tamarisk, Inc. paid the balance due to Culver Company on April 15, the payment is made within the discount period. Thus Tamarisk, Inc is granted a discount of 2% and pays the Account at $33,222 (net of credit granted on merchandise previously returned) .

However, when Tamarisk, Inc. paid the balance due to Culver Company on May 4 instead, the payment is made outside the discount period. Thus Tamarisk, Inc is not granted a discount pays the Account in full at $33,900 (net of credit granted on merchandise previously returned) .

6 0

2 years ago

A-Plus Appliances sells dishwashers with a four-year warranty. In 2019, sales revenue for dishwashers is $94,000. The compan

Elan Coil [88]

Answer:

$4230 is the correct answer to the given question .

Explanation:

As Mention in the question the sales revenue to the dishwashers = $94,000

Also the company estimated warranty expense cost is =4.5% of revenues,

Now the estimated warranty payable can be determined by the following formula

$Annual\ sales\ revenue\ for \ the \ dishwashers\ * warranty\ expense\ revenues.$

$= \ 94000\ * \ 4.5\ % \ of \ revenues$

== $4230

6 0

2 years ago

On January 1, 2021, the Allegheny Corporation purchased equipment for $115,000. The estimated service life of the equipment is 1

Mazyrski [523]

Answer:

1. $11,000 each year

2. $23,000 and $18,400

3. $15,000 and $12,500

Explanation:

The calculation of the depreciation expense for the 2021 and 2022 is shown below:

1. Straight-line method:

= (Purchase value of equipment - estimated residual value) ÷ (estimated service life)

= ($115,000 - $5,000) ÷ (10 years)

= ($110,000) ÷ (10 years)

= $11,000

In this method, the depreciation is same for all the remaining useful life i.e for 2021 also the same depreciation is applied i.e $11,000

2. Double-declining balance method:

First we have to determine the depreciation rate which is

= One ÷ estimated service life

= 1 ÷ 10

= 10%

Now the rate is double So, 20%

In year 1, the original cost is $115,000, so the depreciation is $23,000 after applying the 20% depreciation rate

And, in year 2, the $(115,000 - $23,000) × 20% = $18,400

3. Units-of-production method:

= (Purchase value of equipment - estimated residual value) ÷ (estimated production units)

= ($115,000 - $5,000) ÷ ($220,000 units)

= ($110,000) ÷ (220,000 units)

= $0.5 per units

For 2021, it would be

= Production units in 2021 year × depreciation per unit

= 30,000 units × $0.5

= $15,000

Now for the 2022, it would be

= Production units in 2022 year × depreciation per unit

= 25,000 units × $0.5

= $12,500

4 0

2 years ago

Cookies by casey has sales of $487,000 with costs of $263,000. interest expense is $26,000 and depreciation is $42,000. the tax

Ber [7]

The net income of Cookies by casey is $123,240

What is net income?

The net income of the company is the excess of its sales revenue over all costs of the running the business, which includes, the costs of sale, interest expense, depreciation as well as the taxes payable to the government authority which is 21% of profits before tax in this case.

Profit before tax=sales-costs of sale-depreciation-interest expense

sales=$487,000

costs of sale=$263,000

depreciation=$42,000

interest expense=$26,000

profit before tax=$487,000-$263,000-$42,000-$26,000

profit before tax=$156,000

tax rate=21%

net income=profit before tax*(1-tax rate)

net income=$156,000*(1-21%)

net income=$123,240

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8 0

6 months ago