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valina [46]
4 years ago
10

Marsha Mellow’s weekly gross earnings for the week ended May 23 were $1,250, and her federal income tax withholding was $201.65.

Assuming that the social security rate is 6% and Medicare is 1.5% of all earnings, what is Mellow’s net pay? If required, round your answer to two decimal places.
Business
1 answer:
Nataliya [291]4 years ago
8 0

Answer:

$954.60

Explanation:

Gross Pay: Gross income for an individual, also known as gross pay, is the individual's total pay from his employer before taxes or other deductions.

Net Pay: Gross income for an individual, also known as gross pay, is the individual's total pay from his employer after taxes or other deductions.

Particulars       Amount   Amount

Gross Pay                          $1,250

Withholding deduction:

Income tax       <em>($201.65)</em>

Social Security  <em>(1,250*0.06 = $75)</em>

Medicare tax <em>(1,250*0.015 = $18.75)</em>

Net pay                                           $954.60  

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Glinda goes to the supermarket for her monthly grocery shopping. As she waits in the line at the cash register, she sees her fav
ycow [4]

Answer:

<em><u>Convenience products.</u></em>

Explanation:

Convenience products are those goods or services that are purchased by the consumer with high frequency without comparison criteria or high purchasing efforts. These products are widely distributed so that the consumer has the availability of purchase at any time. Examples include magazines, fast food, detergents and beverages.

Some of its features are:

  • Low price,
  • Classified as non-durable goods,
  • High frequency of replacement at points of sale,
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7 0
3 years ago
Describe how human desires would be met with no scarcity.
leva [86]

Answer:

Human needs are the impulse that individuals have to access certain goods or things. Scarcity, in turn, is the lack of goods or things to meet the needs of all humans in general.

Therefore, all human needs could be covered without major problems if the phenomenon of scarcity did not exist, that is, if there were more goods available than those demanded by society.

7 0
3 years ago
A company is planning to have a booth at a job fair to recruit for landscapers. In order to help potential applicants decide whe
andriy [413]

Answer:

b

Explanation:

yes they should encourage everyone and the share the information with everyone so that interested and qualifying candidates can get a chance to apply

7 0
3 years ago
Identify which of the following statement(s) is (are) correct as to why accounting is important. (check all that apply.) manager
Dominik [7]

Answer:

The correct statements are A, B and C

Explanation:

Accounting plays a important role while running a business as it helps the company in keeping a track of expenditures as well as income, it ensures the statutory compliance.

Provide the owners, managers, investors and creditors reliable information so that could take the decisions.

It summarizes the information and help in conveying the information related to the firm activities.

It records as well as communicate the information regarding the business.

7 0
3 years ago
A company will need ​$45,000 in 8 years for a new addition. To meet this​ goal, the company deposits money in an account today t
True [87]

Answer:

The amount that should be invested to total $45,000 in 8 years is $18,995.

Explanation:

According to the situation, you have to calculate the amount that you have to invest in the present to get $45,000 in eight years. You can find it using the formula:

P= F/(1+(i/n))^nt

P= present value

F= future value: $45,000

i= interest: 11%

n= number of times compounded per year: 3

t= time in years

P= $45,000/(1+(0.11/3))^(8*3)

P= $45,000/(1+0.0366)^24

P= $45,000/2.369

P= $18,995

3 0
3 years ago
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