Answer:
Employer should withheld $1,643 from Baker's salary
Explanation:
Baker earned $113,300 in 2012. As on 2012, FICA tax rate withheld from employee's salary is 7.65% that constitutes 4.5% of social security, 1.45% of medicare taxes and 2% additional for employees whose wages exceed $18,350.
The gross income base for social security part has increased in 2012 to $110,100. This is not applicable for medicare tax of 1.45%.
Here, Baker's salary of $113,300 is above social security limit, so his income will not be withheld for social security. However, 1.45% of his salary will be withheld for medicare tax.
Therefore, $1,643 that is 0.0145×113,300 is withheld from his salary.
Answer:
4) Triple net lease
Explanation:
In a triple net lease (NNN lease), the tenant is responsible for all the expenses related to the leased property including property taxes, maintenance fees, reparations and property insurance. NNN leases are usually commercial leases only.
The landlord's disadvantage with a NNN lease is that the monthly lease payment tends to be lower since the tenant assumes all the costs related to the leased property. On the other hand, a NNN lease generally provides a stable cash flow, so its associated risk is lower.
Answer:
(A) 18,600 units
(B) 13,821 units
Explanation:
(A) The computation of the equivalent unit for material cost is shown below:
= (Completed and transferred units × completed percentage) + (ending work in progress units × completed percentage)
= (10,500 units × 100%) + (8,100 units × 100%)
= 10,500 units + 8,100 units
= 18,600 units
(B) The computation of the equivalent unit for conversion cost is shown below:
= (Completed and transferred units × completed percentage) + (ending work in progress units × completed percentage)
= (10,500 units × 100%) + (8,100 units × 41%)
= 10,500 units + 3,321 units
= 13,821 units
Answer:
$26,036.74
Explanation:
Tom is able to pay $390 per month for 7 years. The interest rate is 6.8 %. Tom will pay an equivalent of the present value of a $390 annuity for & years 6.8 per cent
The applicable formula is
PV = P × 1 − (1+r)−n
r
Where PV is the present value
P is 390
r is 6.8% per year or 0.005666
n is 7 year or 84 months
PV = $390 x 1-(1+0.005666)84
0.00566
PV = $390 x 1- 0. 622133410)
0.00566
PV =390 x (0.37786659/0.00566)
PV = $390 x 66.760
PV = $26,036.74
