1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
dezoksy [38]
1 year ago
7

malcolm’s employer automatically deducts 37.7% from his paycheck every month for taxes, insurance premiums, retirement accounts,

and so on. he ends up taking home $39560.50. what was his gross pay?
Business
1 answer:
kolbaska11 [484]1 year ago
4 0

The gross pay of the malcolm’s employe is $ 104,935.0133.

Gross pay is what employees earn before taxes, benefits and other payroll deductions are withheld from their wages. the quantity last after all withholdings are accounted for is net pay or take-domestic pay.

Calculation:-

net pay = $39560.50

gross pay × 37.7 % = net pay

X × 37.7 /100 = $39560.50

X = $39560.50 × 100 ÷  37.7

 = $ 104,935.0133

Fundamental revenue is a charge of pay agreed upon by way of an corporation and worker and does now not encompass overtime or any extra compensation. Gross earnings, but, is the quantity paid before tax or other deductions and consists of overtime pay and bonuses.

Learn more about gross pay here:-brainly.com/question/25273589

#SPJ4

You might be interested in
Ranch Company estimates warranty expense as 5% of sales. On January 1, warranties payable was $13,000. During the year Ranch pai
Yuki888 [10]

Answer:

$13,000

Explanation:

The computation of the december 31 liability for the warranty is shown below:

Given that

Warranty expense = 5% of sales

Warranty payable = $13,000

Paid amount = $5,000

Sales = $120,000

based on the above information

The warranty liability as on Dec 31 would be equivalent to the warranty payable i.e. $13,000

The same is to be considered

3 0
3 years ago
Explain what lower of cost or market means in regards to reporting merchandise inventory on the balance sheet.
Degger [83]

Answer and Explanation:

Inventory is an asset and is posted on the asset side of the balance sheet. As per accounting standards regarding inventory valuation, it can be either valued at historical cost or at market price, whichever is lower.

Historical cost is the cost at which asset was acquired. Market price is the price which would be received if the asset is replaced as on the date on which balance sheet is prepared. Inventory is valued at lower of the above mentioned costs.

4 0
3 years ago
Maxim manufactures a cat food product called Green Health. Maxim currently has 10,000 bags of Green Health on hand. The variable
Rudik [331]

Answer: $92,880

Explanation:

The Gross Profit can be calculated by simply removing the cost from the sales amount.

It is stated that the additional processing will yield 10,000 bags of Premium Green and 3,600 bags of Green Deluxe, which can be sold for $7.55 and $5.55 per bag.

Sales figure is therefore,

= (10,000 * 7.55) + (3,600 * 5.55)

= 75,500 + 19,980

= $95,480

Subtracting the cost to get,

= 95,480 - 2,600

= $92,880

The total gross profit would is $92,880.

7 0
3 years ago
Bond valuationlong dashSemiannual interest Find the value of a bond maturing in 4 ​years, with a ​$1 comma 000 par value and a c
algol [13]

Answer:

824.28

Explanation:

Market price of a bond is the total sum of discounted coupon cashflow and par value at maturity. This is a 4-year bond with semi-annual payment so there will be 8 coupon payment in total. Let formulate the bond price as below:

Bond price = [(Coupon rate/2) x Par]/(1 + Required return/2) + [(Coupon rate/2) x Par]/(1 + Required return/2)^2 + ... + [(Coupon rate/2) x Par + Par]/(1 + Required return/2)^8

Putting all the number together, we have

Bond price = [(4.5%) x 1000]/(1 + 7.5%) + [(4.5%) x 1000]/(1 + 7.5%)^2 + ... + [(4.5%) x 1000 + 1000]/(1 + 7.5%)^8

                  = 824.28

7 0
3 years ago
An acrostic poem describing the word peculiar
castortr0y [4]
Huh?? What are you taking abouttttt LOL
6 0
3 years ago
Other questions:
  • Connie stepped in to assist her friend Fred to conduct his research plan for his business. He is trying to see where he should o
    14·1 answer
  • A firm is considering purchasing an asset that will have a useful life of 15 years and cost​ $7.5 million; it will have installa
    6·1 answer
  • Preferred stock which confers rights to prior periods' unpaid dividends even if they were not declared is called:
    13·1 answer
  • Choose the word that best completes this sentence. ________ exist in the ground, air, and bodies of most living things but do no
    8·1 answer
  • Quick Eats is a fast-food restaurant that has recently entered the hospitality industry. Since most of its competitors are pursu
    5·1 answer
  • The natural rate of unemployment is the: Question 10 options: a) full-employment unemployment rate. b) unemployment rate experie
    10·1 answer
  • The nation itself with all its so called internal improvements meaning
    8·1 answer
  • A good reason to open a checking account is that
    14·1 answer
  • True or False: An interest-bearing account is an account that generates interest income on the available balance in the account.
    15·1 answer
  • A plant's fixed overhead costs total $500,000 for a year to produce 400,000 widgets, among other items. If machine‐hours are use
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!