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3 years ago

One year ago, you invested $1,800. Today it is worth $1,924.62. What annually compounded rate of interest did you earn?

Business

1 answer:

mina [271]3 years ago

5 0

Answer:

6.92%

Explanation:

The computation of the annually compounded rate of interest is presented below:

Future value = Invested amount × (1 + rate)^number of years

where,

Invested amount = $1,800

Rate = ?

Number of years = 1 year

The future value = $1,924.62

So, the rate is

$1,924.62 = $1,800 × (1 + rate)^1

After solving this, the rate is 6.92%

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Faruga Company had FUTA taxable payrolls for the four quarters of $38,400; $29,600; $16,500; and $8,900, respectively. What was

sertanlavr [38]

The initial $42 FUTA tax deposit that Farrugia was obligated to make.

The Federal Unemployment Tax Act is referred to as FUTA. This law's objective is to tax employers who provide wages to their workers so that they may use the money to help the unemployed.

Use a 0.6% Net FUTA tax rate on the first $7,000 in taxable wages, as stated in the question.

Actually, this is in line with the law, which states that only the first $7,000 of each employer's taxable payroll distribution is taken into account for calculating FUTA.

And here Taxable Payrolls given are -

1st Quarter - $38,400

2nd Quarter - $29,600

3rd Quarter - $16,500

4th Quarter - $8,900

Since the taxable payroll reported in each quarter is greater than $7,000, only the fraction of these payrolls up to $7,000 will be considered to determine FUTA.

Amount of the first deposit in accordance with FUTA

= $7,000 x 0.6% (rate given in question)

= $42

Complete question:

Use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages. Faruga Company had FUTA taxable payrolls for the four quarters of $38,400; $29,600; $16,500; and $8,900, respectively. What was the amount of Faruga's first required deposit of FUTA taxes?

To learn more about FUTA taxes

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4 0

1 year ago

You are the Human Resources Manager in a large hospital. You have to put together a team of 5 people to work on a new project. T

Misha Larkins [42]

Answer: I don't know

Explanation:

3 0

3 years ago

Claremont Company sells refurbished copiers. During the month, the company sold 145 copiers at an average price of $2,300 each.

mylen [45]

Answer:

$362,500

Explanation:

Since the company sold 145 copiers at an average price of $2,300 each.

Also, 140 budgeted copiers is to be sold at an average price of $2,500

The next step is to sum the above;

= $2,300 + $2,500

= $4,800

Furthermore, we will multiply the above outcome with the actual copiers sold

= $4,800 × 145

= $696,000

We would also get the actual sales by multiplying the actual copiers sold with the average price of each copier.

= $2,300 × 145

= $333,500

Therefore, the expected total sales for 145 copiers would be;

= $696,000 - $333,500

= $362,500

4 0

3 years ago

The proper time to determine a company's business model is following the _______ of the business idea and prior to fleshing ou

Tamiku [17]

Answer:

Initial validation of the business

Explanation:

The proper time to determine a company's business model is following the Initial validation of the business of the business idea and prior to fleshing out the operational details of the firm. This is because without knowing exactly what they company wants to accomplish you cannot create a model/blueprint to try and accomplish that goal, and only once you have the blueprint can you iron out the operational details of the company.

6 0

3 years ago

A supplier has offered your company a reduced price per unit for a component part you purchase if you will increase your purchas

Kitty [74]

Answer:

the numbers are missing:

<em>A supplier has offered your company a reduced price per unit for a component part you purchase if you will increase your purchase quantity from 18,000 to 72,000 units. Currently, you pay $28.50 per unit. The supplier has offered to reduce this cost to $28.20 per unit if you purchase the higher quantity. You purchase approximately 279,000 of the units annually. The cost to place an order is estimated to be $360 per order regardless of the order size. Transportation costs are estimated to be $0.85 per unit. Your cost to hold a component part in inventory is estimated at 18% annually based on the cost of the purchased item. Should you continue with your current policy, or should you take the incentive offered by the supplier?</em>

currently the total cost = [279,000/18,000 x $360] + (18% x $28.50 x 18,000/2) + (279,000 x $0.85) + ($28.50 x 279,000) = $5,580 + $46,170 + $237,150 + $7,951,500 = $8,240,400

total cost after proposed change in order size = [279,000/72,000 x $360] + (18% x $28.20 x 72,000/2) + (279,000 x $0.85) + ($28.20 x 279,000) = $1,395 + $182,736 + $237,150 + $7,867,800 = $8,289,081

the proposed change in order size should not be accepted and the company should continue with its current policies

6 0

3 years ago