Mercury hope i helped #im a beast
Answer:
a. Calculate the employer's payroll taxes, using the following rates: state unemployment, 5.4%; federal unemployment, 0.8%.
b. Journalize the entry to record the accrual of payroll taxes. If an amount box does not require an entry, leave it blank.
- Dr FICA Social Security expense 6,600
- Dr FICA Medicare expense 1,650
- Dr Federal unemployment tax expense 200
- Dr State unemployment tax expense 1,350
- Cr FICA Social Security payable 6,600
- Cr FICA Medicare payable 1,650
- Cr Federal unemployment tax payable 200
- Cr State unemployment tax payable 1,350
Explanation:
payroll taxes should be:
social security $110,000 x 6% = $6,600
Medicare $110,000 x 1.5% = $1,650
federal unemployment $25,000 x 0.8% = $200
state unemployment $25,000 x 5.4% = $1,350
total = $9,800
Both employees and employers must pay equal amounts of FICA taxes (social security and medicare), but only employees pay unemployment taxes.
Answer:
2. $400 unfavorable
Explanation:
Data provided in the question
Direct labor hours = 9,000
Indirect material cost = $27,000
On Actual basis
Indirect material cost = $28,000
Direct labor hours = 9,200
So, the difference for indirect material is
= Indirect material cost ÷ direct labor hours × direct labor hours - indirect material cost
= $27,000 × 9,200 ÷ 9,000 - $28,000
= $27,600 - $28,000
= $400 unfavorable
Answer: True
Explanation: Market segment can be defined as the grouping of a population on the basis of geography, gender or age etc. for the purpose of marketing. The population in every single group has two or more similar characteristics on the basis of which marketing strategy is made.
In the given case, there are two similarities in the group,first the age, and ,second is the hobby of internet.
Hence, it is an example of market segment.
Answer: Establishing an Allowance for Doubtful Accounts under the allowance method is necessary <u><em>because estimates must be made when recording bad debt expense and it is not possible to know which specific accounts will not be collected.</em></u>
Allowance for doubtful accounts is a diminution of accounts receivable and is recorded as a write-off straightaway beneath accounts receivable that is appearing on a organization balance sheet.
