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kolbaska11 [484]
3 years ago
7

An employee receives an hourly rate of $27, with time and a half for all hours worked in excess of 40 during a week. Payroll dat

a for the current week are as follows: hours worked, 46; federal income tax withheld, $350; cumulative earnings for year prior to current week, $99,700; social security tax rate, 6.0% on maximum of $106,800; and Medicare tax rate, 1.5% on all earnings. What is the gross pay for the employee
Business
1 answer:
Nadusha1986 [10]3 years ago
5 0

Answer:

$1,323

Explanation:

The computation of the gross pay for the employees is shown below;

Gross pay = ( Hours worked × Hourly rate ) + (Hours worked - excess worked hours) × Hourly rate × half yearly basis

= (46 hours × $27 ) + (46 hours - 40 hours) × $27 × 0.50

= $1,323

We simply applied the above formula to determine the gross pay for the employee without deducting any kind of taxes given in the question.

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At your first meeting with Alex, you ask to see his most recent financial statements so that you can get an overall assessment o
Anon25 [30]

Answer:

The two main financial statements are the income statement and the balance sheet.

In the income statement all the revenue and the expenses should be accounted for, resulting in net profits or net losses. The income statement shows how the restaurant has been performing over a given period (usually a year).

The balance sheet is like a photo of the restaurant itself at a specific point in time. The balance sheet shows what assets the restaurant has, how much money it owes and what percentage of the business really belongs to the owners.

The other two financial statements are the statement of owner's equity and the statement of cash flows, but they are more complicated to explain and not that basic for a small business.

8 0
2 years ago
Which of the following should occur when assessing a safety and health program’s effectiveness?
Semmy [17]

DEPARTMENT OF LABOR

Occupational Safety and Health Administration

[Docket No. C-02]

Safety and Health Program Management Guidelines; Issuance of Voluntary Guidelines

AGENCY: Occupational Safety and Health Administration (OSHA). Department of Labor

ACTION: Issuance of voluntary guidelines.

SUMMARY: The Occupational Safety and Health Administration (OSHA) is issuing safety and health program management guidelines for use by employers to prevent occupational injuries and illnesses.

https://www.osha.gov/pls/oshaweb/owadisp.show_document?p_table=federal_register&p_id=12909

5 0
2 years ago
EA13.
almond37 [142]

Answer:

$423,000

Explanation:

Initial accounts payable added to any purchases made during the period must equal ending accounts payable plus cash payments. Therefore, the amount of budgeted cash payments is:

\$95,000 + \$420,000 = \$92,000 + budgeted\ cash\ payments\\budgeted\ cash\ payments = \$423,000

The amount of budgeted cash payments is $423,000.

3 0
3 years ago
The three (3) key components in creating a financial plan are: Select one: a. The sales forecast, proforma financial statement a
atroni [7]

Answer:

The correct answer is the option D: Free cash flow, economic value added, sales forecast.

Explanation:

To begin with, in the field of business, a financial plan consists of an strategy that the managers of the company must follow in order to have every money aspects established and on guard of what can happen straight ahead regarding the conditions and circumstances of the organization's environment and context as well. Therefore that a financial plan's major three components are the cash flow statement where the managers must see how the money is flowing in and out, also the sales forecast that will encourage the company itself to try to achieve that expectations and the economic value added could also be very important when it comes to matters of money and how the business will value their products for sale according to the costs structure that the enterprise has.  

7 0
3 years ago
Why do people need to buy and sell products or services? people need to provide the market with goods and services. people need
vredina [299]

The answer is "no one is completely self-sufficient".

Being self sufficient means that one is able to supply one's own or its own needs without external assistance which in an individual case is impossible, everyone needs to rely for some service or something on others, and other people rely on someone too for a specific service this is how a society works.

8 0
3 years ago
Read 2 more answers
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