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John worked 43 hours last week. His hourly rate is $9.00. He has the following deductions taken from his pay: Social Security ta

DochEvi [55]

Net pay is calculated by subtracting deductions from Net Pay.

In this case:

Gross Pay is 40 hours X $9/hr (regular pay) PLUS 3 hours X (13.50 -- 1.5 times the normal pay) for overtime

Once you have Gross Pay, you multiply that by the percentages given for the deductions and subtract that total from Gross Pay.

One note, in this case, federal taxes are not withheld from the amount given to 401(k). So to figure the taxes you would:

(Gross Pay - 401(K) contribution) X 10%

Gross Pay - deductions = net pay

4 0

3 years ago

In order to continue operating, in the long-run a firm must a. Charge a price equal to its AVC b. Charge a price equal to its

Marina CMI [18]

Answer:

The answer is option A)

In order to continue operating, in the long-run a firm must A) Charge a price equal to its AVC

Explanation:

In order to continue operating, in the long-run a firm must charge a price equal to its Average Variable cost AVC.

This is because, a long run is a period of time in which all factors of production and costs are variable.

Over the long run, a firm will search for the production technology that allows it to produce the desired level of output at the lowest cost. If a company is not producing at its lowest cost possible, it may lose market share to competitors that are able to produce and sell at minimum cost.

7 0

2 years ago

An account that earns intrest and is used to to meet financial goals is a

kirza4 [7]

Answer: Savings accounts

Explanation: Savings accounts pay interest on the money you deposit. Savings accounts allow an unlimited amount of withdrawals each month. Savings accounts may require you to maintain a minimum balance to avoid paying a fee. Savings accounts are best used to store money for longer-term goals.

6 0

2 years ago

Carroll Corporation has two products, Q and P. During June, the company's net operating income was $26,000, and the common fixed

mario62 [17]

Answer:

$34,000

Explanation:

Given the above information, the computation of segment margin for product P is shown below;

Net operating profit = (Segment margin Q + Segment margin P) - Common fixed expenses

$26,000 = ($48,000 + Segment margin P) - $56,000

$26,000 = $48,000 + Segment margin P - $56,000

$26,000 = Segment margin P - $8,000

Segment margin P = $26,000 + $8,000

Segment margin P = $34,000

8 0

2 years ago

What is the primary task of the Federal Reserve

Murrr4er [49]

Answer:

The responsibilities of the Federal Reserve include influencing the supply of money and credit; regulating and supervising financial institutions; serving as a banking and fiscal agent for the United States government; and supplying payments services to the public through depository institutions like banks.

7 0

3 years ago

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