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Zigmanuir [339]
3 years ago
11

When Jenna Henderson works overtime (any hours over 40 hours a week), she us paid 1.5 times her regular hourly rate. Last week,

she worked 62 hours. If her regular hourly rate is $6.50, what did she earn last week?
Business
2 answers:
aivan3 [116]3 years ago
4 0
40 x 6.5 = $260 (earned from 40h normal work hour)

6.5 x 1.5 = $9.75 per 1h overtime

(62 - 40) x 9.75 = $214.5 (earned from 22h overtime work)

260 + 214.5 = $474.5 nominal gross income
Aleonysh [2.5K]3 years ago
3 0
Jenna earned $474.50 last week.
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On March 1, 2019, Rasheed Company assigns $825,000 of its accounts receivable to the Third National Bank as collateral for a $60
marta [7]

Answer:

A.Dr Cash 579,375

Dr Finance charge 20,625

Cr Loan payable 600,000

Dr Accounts Receivable Assigned 825,000

Cr Accounts Receivable 825,000

b) Dr Cash 750,000

Cr Sales discounts 8,000

Cr Sales returns 22,000

Cr Accounts Receivable Assigned 720,000

c)Dr Loan Payable 600,000

Cr nterest expense 4,000

Cr Cash 596,000

Explanation:

a. Preparation for March 1, 2019, journal entry for Rasheed Company

March 01,2019

Dr Cash 579,375

(600,000-20,625)

Dr Finance charge (825,000*2.5%) 20,625

Cr Loan payable 600,000

(Loan amount received)

March 01,2019

Dr Accounts Receivable Assigned 825,000

Cr Accounts Receivable 825,000

(Assigning Accounts receivable)

b.Preparation of the journal entry for Rasheed's collection of the amount of $750,000 of the accounts receivable during March of 2019

March, 2019

Dr Cash 750,000

Cr Sales discounts 8,000

Cr Sales returns 22,000

Cr Accounts Receivable Assigned 720,000

(750,000-8,000-22,000)

C.Preparation of the journal entry to record this payment.

April 01,2019

Dr Loan Payable 600,000

Cr nterest expense (600,000*8%*1/12) 4,000

Cr Cash 596,000)

(600,000-4,000)

(Loan settled along with interest)

6 0
3 years ago
The economy has grown by 4% per year over the past 30 years. During the same period the labor force has grown by 1% per year and
Sphinxa [80]

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

6 0
3 years ago
The net income reported on the income statement is $66,953. However, adjusting entries have not been made at the end of the peri
Vesna [10]

Answer:

The corrected net income is $63,678

Explanation:

For computing the correct balance of the net income, the following things should be subtracted from the net income which is reported on the income statement.

In mathematically,

Corrected net income = Reported net income - Supplies expense - accrued salaries

= $66,953 - $2,024 - $1,251

= $63,678

The supplies expense and accrued salaries are an expense which is needed to be deducted so that the correct value of net income can arrive. Thus, we subtracted these two expenses.

Hence, the corrected net income is $63,678

8 0
3 years ago
Taser Industries must decide whether to make or buy some of its components. The costs of producing 175,000 battery packs for its
Alenkasestr [34]

Answer:

The correct answer is B.

Explanation:

Giving the following information:

The costs of producing 175,000 battery packs for its product are as follows:

Direct Materials $15,000

Direct Labor $5,000

Variable overhead $6,000

Fixed overhead $9,000

The company has an opportunity to purchase the battery packs for $0.18 per unit, which would eliminate all variable costs and $2,000 of fixed costs.

Make in house:

Total cost= 35,000

Buy= 175,000*0.18 + 7,000 (unavoidable fixed costs)= 38,500

Effect on income= 35,000 - 38,500= 3,500 decrease

5 0
2 years ago
Choose the best answer.
natali 33 [55]

Answer: You should drink Ovaltine

Explanation:

Advertising is the paid form of non personal commercial means of bringing the existence of a new goods and services to the knowledge of the members of the public and persuade them to buy and use the goods and services. Through the process of advertising information is passed and awareness is created about the existence and production of goods and services. Advertising can take the following forms or types

Persuasive Advertising : This is a type of advertising that appeals to people to buy and use a particular goods whether they need it or not by making them to understand that they cannot do without the commodity.

Informative Advertising : This type of advertising gives facts about the uses of and where the goods and services can be obtained. It is the best form of advertising for introducing new commodity under brand name and new line of product into the market.

Competitive Advertising : This is form of advertising for goods with close substitutes, it is aimed at creating large market for a particular commodity at the expense of close substitutes. It is to inform consumers that a particular commodity is far better than its close substitutes.

Direct Advertising : This is the form advertising directed to a section or class of people that makes use of the goods and services advertised. For example advertisement of textbooks can be directed at students.

Indirect Advertising : This is the form advertising not directed to any section or class of people, it is used in advertising goods and services meant for all and sundry.

Mass and specific or Generic Advertising : In this form of advertising, producers of the same type of goods come together in order to advertise the product.

7 0
3 years ago
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