The term new normal
refers to a wide variety of context wherein something that was considered
abnormal before has found its commonplace or sort of became a norm. It is referenced
from the financial crisis during 2007-2008 and the global recession from
2008-2012.
Answer:
The total payroll tax expenses is $3139.5
See the prepared journal in the explanation below.
Explanation:
Before it is presented on a general journal, the calculation is done below;
1. Payroll tax expenses:
FICA Social Security taxes = 6.2% * 2300 * 10
= 0.062 * 2300 * 10
= $1,426
FICA Medicare taxes = 1.45% * 2300 * 10
= 0.0145 * 2300 * 10
= $333.5
FUTA taxes = 0.6% * 2300 * 10
= 0.006 * 2300 * 10
=$138
SUTA taxes = 5.4% * 2300 * 10
= 0.054 * 2300 *10
= $1242
Total payroll tax expenses = $1,426 + $333.5 + $138 + $1242
= $3139.5
Date General Journal Debit Credit
Jan. 31 Payroll tax expense $3139.5
FICA- Social sec. taxes payable $1,426
FICA- Medicare taxes payable $333.5
FUTA taxes payable $138
SUTA taxes payable $1242
(Payroll tax expense recognized)
I had to look for the options and here is my answer:
So based on the given statements above related to the descriptions of Andrews, we can say that the one that best illustrates the current strategy of the company is that ANDREWS IS A BROAD COST LEADER. (This answer is based on the actual options attached to this question.)
Ummm i don’t think i understand the question