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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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Capital goods
Anika [276]
Capital goods are those good used to make consumer goods and services.
Thus answer is D

Capital goods is also known as intermediate goods, durable goods or economic capital.
6 0
3 years ago
Describe each of the 3 functions of communications and give examples of each from your own life (do not use examples from the bo
Alex787 [66]

Answer:

hi! this is just your daily reminder that you can do everything you put yourself to do no cap!!! :) ps. your supperrr smart =D

8 0
3 years ago
xyz's corporation has an investment in 20,000 shares of wallace company common stock with a cost of $872,000. these shares are u
Flura [38]

Answer:

XYZ's Corporation

The net effect of this property dividend on retained earnings is a reduction of:

= $388,000.

Explanation:

a) Data and Calculations:

Cost of investment in Wallace Company = $872,000

Property dividend declaration date = May 25

Property dividend distribution date = July 31

Property dividend date of record = June 15

Fair value per share of Wallace shares:

May 25 = $63

June 15 = $66

July 31 = $68

Amount of property dividend declared = $1,260,000 ($63 * 20,000)

Analysis of entries:

May 25:

Property dividend $872,000 Loss on Distribution $388,000 Property Dividend Payable $1,260,000

July 31:

Property Dividend Payable $1,260,000 Cash $1,260,000

5 0
3 years ago
Haver Company currently produces component RX5 for its sole product. The current cost per unit to manufacture the required 55,00
pickupchik [31]

Answer:

If the company makes the component, $165,000 will be saved.

Explanation:

Giving the following information:

Units production= 55,000 units

Production costs:

Direct materials $5

Direct labor $9

Avoidable Overhead= 3

Direct materials and direct labor are 100% variable.

An outside supplier has offered to supply the 55,000 units of RX5 for $20.00 per unit.

We need to determine the total cost of making in-house and buying.

<u>We will take into account only the variable cost (avoidable cost).</u>

<u>Make in-house:</u>

Total cost= 55,000*(5 + 9 + 3)= $935,000

<u>Buy:</u>

Total cost= 55,000*20= $1,100,000

If the company makes the component, $165,000 will be saved.

4 0
3 years ago
A labor crew for placing concrete consists of one labor foreman at $26.09 per hour, one cement finisher at $29.30 per hour, 6 la
muminat

Answer:

Total cost per day= $1,892.72

Explanation:

Giving the following information:

Foreman= 26.09 per hour

Cement finisher= 29.3 per hour

Labor= 24.45 per hour

Equipment operator= 34.5 per hour

<u>To calculate the total cost for one day of work, we need to multiply the hourly rate by the total number of hours.</u>

<u></u>

Total cost per day= 26.09*8 + 29.3*8 + (24.45*6)*8 + 34.5*8

Total cost per day= $1,892.72

6 0
2 years ago
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