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yaroslaw [1]
3 years ago
5

Giannitti Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. Data for the u

pcoming year appear below: Estimated machine-hours 72,400 Estimated variable manufacturing overhead $ 3.00 per machine-hour Estimated total fixed manufacturing overhead $ 838,780 The predetermined overhead rate for the recently completed year was closest to:
Business
1 answer:
grin007 [14]3 years ago
8 0

Answer:

Overhead Rate 14.5856

Explanation:

Fixed Cost of the manufacturing overhead will be distribute over the cost driver.

\frac{CostOf Manufacturing Overhead}{Cost Driver}= $Overhead Rate

\frac{838780}{72400}= 11.5856

Then we will add the fixed with the variable to get the total overhead per machine-hour

11.5856 + 3 = 14.5658

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Harding Company is in the process of purchasing several large pieces of equipment from Danning Machine Corporation. Several fina
sattari [20]

Answer:

Option-2 is best alternative

Explanation:

Option-1

Present value of lumpsum amount -1160000

Option-2

Annual paymentt for 10 yrs -94000

Annuity for 10 yrs at 8% 6.7101

Present value of outflowws -630749

Add: Initial amount paid -461000

Present value of outflowws -1091749

Option-3

Annual paymentt for 9 yrs -156000

Annuity for 10 yrs at 8% 6.24689

Present value of outflowws -974515

Add: Initial amount paid -156000

Present value of outflowws -1130515

Option-4

Amount paid after 5 yrs -1730000

PVF at 5 yrs at 8% 0.680583

Present value -1177409

Option-2 is best alternative

6 0
3 years ago
Ocean Breeze Co. paid $500 cash for expenses related to advertising for the period. Which of the following shows how this event
Simora [160]

Answer:

($500) = NA + NA + ($500)

Explanation:

In this question, the following accounting equation is used

Assets = Liability + common stock + retained earnings

As in the transaction, it is given that $500 cash is paid for advertising expense, so this event would be affecting the accounting equation for asset and the retained earning account i.e

($500) = NA + NA + ($500)

As cash is paid which reduces the asset balance plus the retained earning balance is also get reduced by $500

3 0
3 years ago
Who is responsible for withholding the employees income tax?​
julia-pushkina [17]
An employer's federal payroll tax responsibilities include withholding from an employee's compensation and paying an employer's contribution for Social Security and Medicare taxes under the Federal Insurance Contributions Act (FICA).

Employers have numerous payroll tax withholding and payment obligations. Of the utmost importance is the proper payment of what are commonly known as FICA taxes. FICA taxes are somewhat unique in that there is required withholding from an employee's wages as well as an employer's portion of the taxes that must be paid.

The Federal Insurance Contributions Act (FICA) is the federal law requiring you to withhold three separate taxes from the wages you pay your employees. FICA is comprised of the following taxes:

6.2 percent Social Security tax;
1.45 percent Medicare tax (the “regular” Medicare tax); and
Since 2013, a 0.9 percent Medicare surtax when the employee earns over $200,000.
You must withhold these amounts from an employee's wages.

The law also requires you to pay the employer's portion of two of these taxes:

6.2 percent Social Security tax
1.45 percent Medicare tax (the “regular” Medicare tax).
As you can see, the employer’s portion for the Social security tax and the regular Medicare tax is the same amount that you're required to withhold from your employees' wages. (Different rules apply for employees who receive tips.) There is no employer portion for the 0.9 percent Medicare surtax on high-earning employees.

In other words, you withhold a 6.2 percent Social Security tax from your employee’s wages and you pay an additional 6.2 percent as your employer share of the tax (6.2 employee portion + 6.2 employer portion = 12.4 percent total). Also, you withhold a 1.45 percent Medicare tax from your employee’s wages and you pay an additional 1.45 percent as your employer share (1.45 employee portion + 1.45 employer portion = 2.9 percent total). The total of all four portions is 15.3 percent (6.2 percent employee portion of Social Security + 6.2 percent employer portion of Social Security + 1.45 percent employee portion of Medicare + 1.45 percent employer portion of Medicare = 15.3 percent).

Unlike the other FICA taxes, the 0.9 percent Medicare surtax is imposed on the employee portion only. There is no employer match for the Medicare surtax (also called the Additional Medicare Tax). You withhold this 0.9 percent tax from employee wages and you do not pay an employer’s portion. Also, unlike the other FICA taxes, you withhold the 0.9 percent Medicare surtax only to the extent that wages paid to an employee exceed $200,000 in a calendar year. You begin withholding the surtax in the pay period in which you pay wages in excess of this $200,000 “floor” to an employee and you continue to withhold it each pay period until the end of the calendar year.

4 0
3 years ago
Weisbro and Sons common stock sells for $24 a share and pays an annual dividend that increases by 4.9 percent annually. The mark
pogonyaev

Answer:

The amount of the last dividend paid by this company was $1.30/share.

Explanation:

Hi, in order to find the last dividend paid by the company, we need to use the following equation.

Do=\frac{Price(r-g)}{(1+g)}

Where:

Do = Last dividend paid

r = Market rate of return

g = annual growth rate

So, everything should look like this.

Do=\frac{24(0.106-0.049)}{(1+0.049)} =1.304099

Therefore, the last dividend paid by the company was $1.30/Share.

Best of luck

3 0
3 years ago
Introductions can be conducted in the same way regardless of employer's cultural background. True False
Viktor [21]

In my opinion, introductions can be made by a persons background in general, for example, lets say that there is someone that applies for a job at your business and your business gives people their own personal work vehicle and the person applying for the job has many tickets on their record for speeding. I don't think id want someone like that working for me, nonetheless, when it comes to cultural background as into worshiping any sort of religion, as long as it doesn't interfere with work relations, Id say...

<u>True </u> Introductions should be conducted the same way regardless on someones cultural background.

3 0
4 years ago
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