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Harlamova29_29 [7]
3 years ago
15

Mr. Zee worked 48 hours during the week ended January 18, 2019. He is paid $12 per hour and is paid time and a half for all hour

s over 40 in a week. He had $100 withheld from his pay for federal income taxes and $20 withheld for health insurance. The combined social security and Medicare tax rate is 7.65%, and the federal and state unemployment tax rates are 0.6% and 3.8%, respectively. All earnings are taxable. What is the net pay for Mr. Zee’s current paycheck?
Business
1 answer:
lapo4ka [179]3 years ago
8 0

Answer:

=$524.81

Explanation:

Net pay = Earning -taxation

Calculating net pay: hour pay x hours worked

 = $12 x 40

 = $ 480

overtime pay =12 +(50/100x12)x 8

  =(12+6)x8

  =144

total earnings = $144+$ 480= $624

less deduction

social and medicare rate = 7.65 percent

federal and state unemployment rate =0.6 +3.8%

total deduction = 7.65 +O.6 + 3.8= 12.05 %

Actual deduction =12.05/100 x 624= 75.19

Net pay = $624- $75.19

 =$524.81

   

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When something is grown and harvested in the same country it is distributed in, it can be considered what?
Vinvika [58]

Answer:

domestic

Explanation:

In business, domestic refers to the home country of the producer or consumer. The domestic market is the market within the borders of the seller's country.  Domestic contrasts with international, which refers to beyond the borders of a country.

Products that are produced and distributed within the country are domestic products. They are often referred to as local products. Domestic goods become exports if sold outside the borders of their country of origin.

5 0
2 years ago
A property is being appraised using the income capitalization approach. Annually, it has potential gross income of $40,000, vaca
luda_lava [24]

Answer:

<em>Value $  256,250</em>

<em>rounding against nearest 1,000 dollar: 256,000</em>

<em />

Explanation:

From the gross income we subtract the expenses and vanacy losses.

40,000 gross income - 3,500 vacancy - 16,000 operating expense

20,500 net

<em />

Now, we solve for the present value of a perpetuity given the capitalziation rate of 8%

$ 20,500 /  0.08  =  <em>$  256,250</em>

6 0
3 years ago
Read 2 more answers
Whirly Corporation’s contribution format income statement for the most recent month is shown below: Total Per Unit Sales (8,500
FinnZ [79.3K]

Answer and Explanation:

The calculation of the revised net operating income per month in the following cases:

1. The sales volume increases by 50 units.

Sales revenue (8,550 units × $31) $265,050

Less: Variable expenses (8,550 units × $19) $162,450

Contribution margin $102,600

Less: Fixed expenses $55,200

Net operating income $47,400

2. The sales volume decreases by 50 units.

 Sales revenue (8,450 units × $31) $261,950

Less: Variable expenses (8,450units × $19) $160,550

Contribution margin $101,400

Less: Fixed expenses $55,200

Net operating income $46,200

3. The sales volume is 7,500 units.

 Sales revenue (7,500 units × $31) $232,500

Less: Variable expenses (7,500 units × $19) $142,500

Contribution margin $90,000

Less: Fixed expenses $55,200

Net operating income $34,800

6 0
2 years ago
A company maintains its records using cash-basis accounting. During the year, the company received cash from customers, $32,000,
Virty [35]

Answer:

net income cash-basis     8,000

income accrual-basis        7,900

Explanation:

cash revenues                32,000

salaries expense         <u>  (24,000)  </u>

net income cash-basis     8,000

<u>sales for the period:</u>

beginning AR + sales - collected = ending AR

3,000 + sales - 32,000 =  5,500

sales = 34,500

<u>salaries expense:</u>

beginning salaries payables + salaries - paid = ending salaries payable

3,100 + salaries - 24,000 = 5,700

salaries 26,600

revenues                    34,500

salaries                     <u>  (26,600)  </u>

income accrual-basis   7,900

3 0
3 years ago
Read 2 more answers
Suppose an economy has 10,000 people who are not working but looking and available for work and 90,000 people who are working. W
Daniel [21]
<h3>In the given scenario unemployment rate is 10% </h3>

Explanation:

In the given problem,

Number of People who are working is 90,000

Number of People who are not working but looking and available is 10,000

Unemployment rate = Percentage of the total labor force that is unemployed but actively looking for employment and ready to  work.  

Unemployment rate = ((Unemployed people * 100) / (Total people in an economy (Working + Available for work)))

Unemployment rate = ((10000 * 100) / (90000+10000))

Unemployment rate = (1000000 / 100000)

Hence, Unemployment rate = 10%

5 0
3 years ago
Read 2 more answers
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