Answer:
The correct answer for option (a) is $3,080 and for option (b) is $2,141.
Explanation:
(a). Current pay = $44
After 40 hours, Pay = $44 × 1.5 = $66
So, we can calculate the gross pay by using following formula:
Gross pay = (40 hours × $44 ) + (20 hours × $66)
= $1,760 + $1,320
= $3,080
(b).
Security Tax = Gross pay × 6% = $3,080 × 6% = $184.8
Medicare Tax = Gross pay × 1.5% = $3,080 × 1.5% = $46.2
Federal Income Tax = $708
So, we can calculate the net pay by using following formula:
Net Pay = $3,080 - $184.8 - $46.2 - $708
= $2,141
Answer:
The correct answer is:
- Conduct monetary policy;
- Ensure that the financial system is stable;
- Provide banking services to commercial banks, depository institutions, and the federal government.
Explanation:
A central bank is the apex monetary authority in a country. It plays several crucial roles in the smooth working of the economy.
- A central bank issues currency on behalf of the government.
- It formulates monetary policy on behalf of the government.
- It acts as a banker for the government.
- It acts as a banker for commercial banks.
- It supervises all financial institutions.
The role of providing services to businesses and consumers is played by commercial banks. Fiscal policy is formulated by the government. The responsibility of ensuring the growth of the economy also falls with the government.
Answer:
Allocated join cost = $66,176.47
Explanation:
<em>The joint cost is allocated using sales. This is done by using the proportion of sales of the total which is attributed to the sales value of widget</em>
Total sales value of the three products=
(75 × 5,000) + ($50× 8,750) + ( $25× 10,000)= 1,062,500
Joint cost = $187,500.
Joint costs allocated to Widget
= (75 × 5,000)/1,062,500 × $187,500. = 66,176.47
Allocated join cost =$66,176.47
Answer:
Option B) Accounts Receivable
Explanation:
In the Direct write-off method the company registered an entry that debit Bad Debts Expense and an credit entry in the Accounts Receivable.
In this method doesn't exist a contra asset account such as Allowance for Doubtful Accounts, the Bad Debt Expenses are reported on the Income Statement one year later of the sale.
