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kobusy [5.1K]
3 years ago
14

Given the pay rate, hours worked, tax deductions, and social security deduction, determine the gross earnings, workmen's compens

ation insurance (assuming 2% of gross earnings), state unemployment insurance (assuming 4% of gross earnings), total deductions, and net pay.
Business
1 answer:
olya-2409 [2.1K]3 years ago
3 0

Answer: assuming Given the pay rate $7.0 and hours worked is 30 hours

Gross earnings = 7 x 30 = $210

Compensation insurance = 2% x $210 = $4.2

state unemployment insurance = 4% x $210 = $8.4

total deductions = 4.2 + 8.4 = $12.6

net pay = 210 - 12.6 = $197.4

Explanation:

Gross earnings  = the pay rate x hours worked

Compensation insurance = 2% of gross earnings

unemployment insurance = 4% of gross earnings

total deductions = Compensation insurance+unemployment insurance

net pay = Gross earnings - otal deductions

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The following information is available for the year ended December 31: Beginning raw materials inventory $ 3,900 Raw materials p
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Answer:

Direct material used= $4,900

Explanation:

Giving the following information:

Beginning raw materials inventory $ 3,900

Raw materials purchases 5,400

Ending raw materials inventory 4,400

<u>To calculate the direct material used, we need to use the following formula:</u>

Direct material used= beginning inventory + purchases - ending inventory

Direct material used= 3.900 + 5,400 - 4,400

Direct material used= $4,900

8 0
3 years ago
On July 1, 2021, Larkin Co. purchased a $460,000 tract of land that is intended to be the site of a new office complex. Larkin i
vova2212 [387]

Answer:

$75,300

Explanation:

The computation of the balance in the land is shown below;

Purchase cost

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Add:

Demolition of existing building on site

$71,000

Add:

Legal and other fees to close escrow

$12,900

Less:

Proceeds from the sale of demolition scrap

($8,600)

Balance in the land

$75,300

Therefore, balance in the land account as of December 31, 2021 is $75,300

3 0
3 years ago
For product costs associated with a particular product to be reported on the income statement: Group of answer choices The produ
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Inventory is important
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3 years ago
the relationship between the factors of production used by a firm and the maximum output possible is called the
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In economics, a factor of production, resource, or input is what is used in a production process to produce products, i.e. goods or services.

The amounts of various inputs used determine the amount of output according to a relationship known as the production function. The relationship between the inputs a firm uses and the maximum output it can produce with those inputs is called the firm's production function. Factors of production are outputs or inputs used to produce goods and services. They are the resources a business needs to make a profit by producing goods and services. Factors of production fall into four categories: Land, Labor, Capital, Entrepreneurship.

Learn more about production here-

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3 0
1 year ago
What is an interest rate usually shown as?
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Percentage, hope that helps
7 0
3 years ago
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