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Pachacha [2.7K]
3 years ago
11

An employee receives an hourly rate of $30, 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, $300; cumulative earnings for year prior to current week, $90,700; social security tax rate, 6.0% on maximum of $100,000; and medicare tax rate, 1.5% on all earnings. what is the net amount to be paid the employee?
a. $1,470
b. $1,059.75
c. $1,381.80
d. $1,249.50
Business
1 answer:
disa [49]3 years ago
5 0
I would say $1059.75 is the net amount the employee would receive for the current week after the deductions. The pay for this employee is 40 hrs x $30= $1200+(6 x $45)$270=$1470. Federal income tax deducted is $300, social security is 6% = 0.06x$1470= $88.20 and medicare is 1.5% = 0.015 x $1470=$22.05. So gross pay = $1470-$300-$88.20-$22.05= $1059.75.
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You plan to retire in 30 years and plan to contribute the same amount of money each year to your retirement fund. The fund earns
tatyana61 [14]

Answer:

$11,215.24

Explanation:

After retirement:

Annual Withdrawal = $100,000

Period = 20 years

Annual Interest Rate = 7%

Amount required at retirement = $100,000 * PVIFA(7%, 20)

Amount required at retirement = $100,000 * (1 - (1/1.07)^20) / 0.07

Amount required at retirement = $100,000 * 10.5940

Amount required at retirement = $1,059,400

Before retirement:

Period = 30 years

Annual Deposit * FVIFA(7%, 30) = $1,059,400

Annual Deposit * (1.07^30 - 1) / 0.07 = $1,059,400

Annual Deposit * 94.46079 = $1,059,400

Annual Deposit = $11,215.24

So, you should contribute $11,215.24 each year into your retirement fund.

3 0
2 years ago
Nadell Corporation reported the following data for the month of AprilInventory Beginning Ending Raw Materials $30,000 $32,000 Wo
jeyben [28]

Answer:

COGS= $181,000

Explanation:

Giving the following information:

Beginning Finished Goods= $39,000

Ending Finished Goods= $53,000

Cost of goods manufactured= 234,000 - 39,000= $195,000

<u>To calculate the cost of goods sold, we need to use the following formula:</u>

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

COGS= 39,000 + 195,000 - 53,000

COGS= $181,000

7 0
3 years ago
Helène, an industrial sales representative, bought a cellular phone to use if she ever had car trouble while traveling between a
snow_tiger [21]

Answer:

Safety Needs

Explanation:

If Helène, an industrial sales representative, bought a cellular phone to use if she ever had car trouble while traveling between appointments. The level of Maslow’s need hierarchy that Helène is addressing is Safety Needs

It would have been 'Esteem needs' if Helene was just buying a phone to be in the same class with her friends or she is changing her phone to reflect her class.

However Helene is buying this phone because she wants to keep appointments which falls in the category of employments and hence is a 'Safety need'.

Safety needs in Maslow's hierarchy has to do with the need for security and protection. If Helene's car breaks down, it could also be a threat to her security if she is unable to call for help

8 0
3 years ago
If you intend to purchase Tata Nano, describe the stages in the purchase decision process.
fiasKO [112]

The basic five stages are problem recognition, information search, alternatives evaluation, purchase decision, and post-purchase evaluation.

<h3>What is a purchase?</h3>

A purchase refers to the action of buying something. Purchasing is considered an important course of action.

There are five main stages that a customer needs to undergo before making any decision either to buy a product or not.

The five stages are

  • Problem recognition- It is the most basic step that ensures if there is a need for purchase.
  • Information search- The next step is to search the information related to the Tata Nano
  • Alternatives evaluation- It helps in evaluating the choices available for the product. Other options for cars are taken into consideration.
  • Purchase decision- After evaluation, a consumer may decide between buying Tata Nano. This decision depends upon the feedback of other people.
  • Post-purchase evaluation- After purchasing, it may lead to brand loyalty if the customer is satisfied with the purchase.

Learn more about the Purchase decision process here

brainly.com/question/26517026

6 0
2 years ago
5. An ATM allows a customer to withdraw a maximum of $400. If the customer withdraws more than $200, the service charge is 3% of
tankabanditka [31]

Answer:

//algorithm for ATM money withdrawal

Algorithm: Algorithm for cash withdrawals from ATM.

Input: withdraw_amount

Output: amount+service_charges.

Algorithm:

step 1:

  balance =account balance.

  withdraw_amount = (Get input from user)

 

step 2:

  if(withdraw_amount>400)

      then, print "maximum limit exceeds"

 

step 3:

  if(withdraw_amout<1)

      then, print "enter a valid amount"

 

 

step 4:

  if(withdraw_amount>balance)

      then, print "insufficient balance.. withdraw money $30 as service charges "

 

 

step 5:

  if(withdraw_amount<400 && withdraw_amount<balance)

      if(withdraw_amount>200)

          service_charge=withdraw_amount*(3/100)

          print " Your cash is dispensed... total amount withdrawn +service_charges 30% (withdraw_amount +service_charge) "

4 0
3 years ago
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