Rise in demand is equal to rise in supply

In its first month of operations, Vaughn Manufacturing made three purchases of merchandise in the following sequence:

olga nikolaevna [1]

Answer:

$Ending\ Inventory = \$1920$ --- FIFO

$Ending\ Inventory = \$1200$ -- LIFO

Explanation:

Solving (a):

FIFO method

This means that the first items to be listed were sold out and only 240 of the last item is left

This implies that the following units were sold

340 units at $5; 440 units at $7 and (540 - 240) units at $8

So: We're left with

$Ending\ Inventory = 240 * \$8$

$Ending\ Inventory = \$1920$

Solving (b):

LIFO method

This means that the last items to be listed were sold out and only 240 of the fist item is left

This implies that the following units were sold

540 units at $8; 440 units at $7 and (340 - 240) units at $5

So: We're left with

$Ending\ Inventory = 240 * \$5$

$Ending\ Inventory = \$1200$

3 0

4 years ago

Calculate Payroll K. Mello Company has three employees-a consultant, a computer programmer, and an administrator. The following

Bumek [7]

Answer:

1. Consultant's earning

Gross pay $2,810

Net pay $1,669.25

2. Computer Programmer

Gross pay $2,520

Net pay $2,093

3. Administrator Income

Gross pay $3,565

Net pay $2,782.62

Explanation:

Calculation to Determine the gross pay and the net pay for each of the three employees for the current pay period

1. Calculation for Consultant Income gross pay and Net pay

Consultant's earning = $2,810

Based on the information given Consultant's GROSS PAY will be $2,810

Calculation to determine the Net pay using this formula

NET PAY = Gross pay - Withheld tax - Medicare tax - social security tax

Let plug in the formula

Where,

Withheld tax = $930

Social security tax = 6% of Total earning

Social security tax= $2,810 * 6%

Social security tax= $168.6

Medicare tax = 1.5% of total earning

Medicare tax= $2,810 * 1.5%

Medicare tax = $42.15

Let plug in the formula

NET PAY = $2,810 - $930 - $42.15 - $168.6

NET PAY= $1,669.25

Therefore Consultant Income gross pay is $2,810 and Net pay is $1,669.25

2. Calculation to determine Computer Programmer gross pay and Net pay

Calculation for GROSS PAY

Rate of earning = $36 per Hour

Working Hours = 55 Hours

Computer programmer Earning = $36 * 55

Computer programmer Earning= $1,980

Overtime hours = 55 - 40

Overtime hours= 15 hours

Overtime earning = 2 times of hourly rate = 15* $36

Overtime earning= $540

GROSS PAY = $1,980+$540

GROSS PAY=$2,520

Calculation to determine the NET PAY

Using this formula

Net Pay = Gross pay - Withheld tax - Medicare tax - Social security tax

Where,

Withheld tax = $238

Social security tax = ($1,980+$540) * 6%

Social security tax= $2,520*6%

Social security tax=$151.2

Medicare tax = 1.5% of total earning

Medicare tax= $2,520 * 1.5%

Medicare tax = $37.8

Let plug in the formula

NET PAY = $2,520 - $238 - $37.8 - $151.2

NET PAY =$2,093

Therefore Computer Programmer Gross pay is $2,520 and the Net pay is $2,093

3. Calculation for Administrator Income Gross pay and Net pay

Calculation for GROSS PAY

Rate of earning = $46 per Hour

Working Hours = 65 Hours

Administrator Earning = $46 * 65

Administrator Earning= $2,990

Overtime hours = 65 - 40

Overtime hours= 25 hours

Overtime earning = 1.5 times of hourly rate = 25 * ($46/2) ( half of the rate is taken)

Overtime earning =25*23

Overtime earning =$575

GROSS PAY = $2,990+$575

GROSS PAY =$3,565

Calculation to determine the NET PAY

Using this formula

Net Pay = Gross pay - Withheld tax - Medicare tax - Social security tax

Where,

Withheld tax = $515

Social security tax = ($2,990+$575) * 6%

Social security tax= $3,565*6%

Social security tax=$213.9

Medicare tax = 1.5% of total earning

Medicare tax = $3,565 * 1.5%

Medicare tax =$53.48

Let plug in the formula

NET PAY = $3,565 - $515 - $53.48 - $213.9

NET PAY= $2,782.62

Therefore Administrator Income is Gross pay $3,565 and the Net pay is $2,782.62

6 0

3 years ago

What is the maximum amount that OSHA can impose as as penalty on an employer for each willful violation

mixas84 [53]

For each willful violation $129,336 per violation

8 0

3 years ago

A company has a selling price of 1800 each for its printers. Each printer has a 2 year warranty that covers replacement of defec

Mrac [35]

Answer:

$90,000

Explanation:

From the question above a company sells each of its printers for 1,800

Each of the printer sold comes with a 2 year warranty

An estimate of 2% of printers sold 30,000

400 printers where serviced under the warranty

To calculate the company's warranty expense for the month of December, the first step will be to find the number of estimate printers that was returned

= printers sold×rate of printer returned

= 30,000×2/100

= 30,000×0.02

= 600

Therefore, the warranty expenses can be calculated as follows

Number of estimated printers returned×Average warranty cost

= 600×150

= $90,000

6 0

3 years ago

Read 2 more answers

You have been hired by bizcom, a business communications consultancy that services many clients in different industries througho

Zigmanuir [339]

I recommend Bizcom to install <u>an extranet, to enable quick collaboration over the Internet, minimize the time spent communicating with the client, and minimize the amount of paperwork needed</u>.

<u>Explanation</u>:

Extranet is a kind of private network that helps organizations to exchange the information securely over Internet. The extranet can be used by vendors, suppliers and authorized set of customers to enable communication.

Internet helps in enabling quick collaboration and also reduces the paperwork. As all the information can be confidentially shared and stored using the Internet, the use of paper can be reduced. The time spent for communicating with the client can also be reduced.

In the above scenario, Bizcom has its consultants from various places. It is difficult to travel to every place and organize meeting. So installing an extranet can help them in keeping connected.

7 0

3 years ago