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lesantik [10]
3 years ago
11

​Keith, an employee of​ Sunbeam, Inc., has gross salary for May of​ $15,000. The entire amount is under the OASDI limit of​ $118

,500 and thus subject to FICA. He is also subject to federal income tax at a rate of​ 20%. Which of the following is a part of the journal entry to record the disbursement of his net​ pay? (Assume a FICAOASDI Tax of​ 6.2% and FICAMedicare Tax of​ 1.45%.) (Round the final answer to the nearest​ dollar.)
Business
1 answer:
Ivanshal [37]3 years ago
5 0

Answer:

there are no options listed, but the journal entry to record Keith's salary should be:

May 31, wages expense

Dr Wages expense 15,000

Dr FICA taxes expense 1,147.50

Dr FUTA taxes expense 900

    Cr Federal income taxes withheld payable 3,000

    Cr FICA OASDI taxes withheld payable 930

    Cr FICA Medicare taxes withheld payable 217.50

    Cr FICA OASDI taxes payable 930

    Cr FICA Medicare taxes payable 217.50

    Cr Wages payable 10,852.50

I didn't include SUTA taxes or any other discount (e.g. health insurance, IRA contributions, union contributions, etc.) because sometimes they do not exist, but the previous ones always exist.

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ycow [4]

Answer:

B. I, II, and IV only

Explanation:

Job specialization can be defined as a strategic process which typically involves the ability of employees working in an organization to develop specific skills, knowledge, great expertise or professionalism and experience to perform their duties, tasks or job functions effectively and efficiently.

In order to gain the requisite skills, expertise and knowledge for job specialization, it is very important for the employees to have undergone an extensive training and a good number of years in work experience.

The primary purpose of job specialization is to increase efficiency and productivity because the employees are able to specialize in the use of specific tools (equipments) to accomplish their tasks, as well as limit the level of error or mistakes in the production process.

In Business management, method analysis can be defined as the study of the detailed process for the performance of a job i.e how a job is done. Thus, method analysis gives a detailed report on the tasks involved in the performance of a job and how they are to be done.

Basically, methods analysis is particularly valuable when it is used on jobs that:

1. Are high in labor content.

2. Are done frequently.

3. Are unsafe, tiring, unpleasant, and/or noisy.

3 0
2 years ago
If productivity increases significantly and demand is not very elastic, what is likely to happen?
spayn [35]

Answer:

B. Fewer workers will be needed.

Explanation:

Elastic demand refers to a flexible demand. It is a demand that can increases or decreases due to several factors. If demand is not elastic, it implies it is constant. An increase or decrease in output or price will not affect the quantity demanded.

An increase in productivity means an increase in output per worker. It is the increase in the number of units produced, per hour, per worker. An increase in productivity results in more output in a given period than previously.

If the demand is constant and there is an increase in productivity, only a few workers will be required. The output from the few workers will be high to meet the constant demand.

4 0
3 years ago
Read 2 more answers
Rivalry-related competitive pressures are being intensified by the efforts of rivals to expand their product lines and offer wid
VARVARA [1.3K]

Answer:

True

Explanation:

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So as per the given statement, the statement is true

hence, the option a is correct

8 0
3 years ago
Jared, the operations head at Cerise Confectionery, showed gratitude to his employees by hosting an employee appreciation day. I
Art [367]

Answer:

Leading is the correct answer.

Explanation:

Leading is a process of influencing, directing and guiding a people of an organization to show them a direction.

Leading is the function that is carried out in the management process to motivate the employees to reach the organizational objectives.

Thus leading create a positive attitude among the people working in the organization.

4 0
3 years ago
A brand manager for a certain company must determine how much time to allocate between radio and television advertising during t
forsale [732]

Answer:

Optimization

Explanation:

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