1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Rina8888 [55]
3 years ago
5

Use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages. Michael Mirer worked for Dawson Company for six months t

his year and earned $11,200. The other six months he earned $6,900 working for McBride Company (a separate company). The amount of FUTA taxes to be paid on Mirer's wages by the two companies is
Business
1 answer:
lisov135 [29]3 years ago
5 0

Answer:

$83.4

Explanation:

Under FUTA, only the first $7000 earning per year will be taxed. Any amounts above $7000 will be tax-exempt.

For Michael, the tax will be calculated as follows.

for the$11200 earned in Dawson company

=0.6% x $7000

=0.06/100 x 7000

=0.006 x 7000

=$42

Amount earned working at McBribe

=0.06% x 6900

=0.006 x $6900

=$41.4

Total to be paid by the two companies

=$42 + $ 41.4

=$83.4

You might be interested in
Juan Garza invested $112,000 10 years ago at 8 percent, compounded quarterly. How much has he accumulated? Use Appendix A for an
jasenka [17]

Answer:

$247,300

Explanation:

Given that

Invested amount = Present value = $11,2000

Time = 10 years × 4 quarter = 40

The rate = 8% ÷ 4 = 2%

So, we have to applying the future value formula which is presented below:

Future value = Present value × (1 + interest rate)^ time period

                      = $112,000 × (1 + 0.02)^40

                      = $112,000 × 1.02^40

                      = $112,000 ×2.2080396636

                      = $247,300

3 0
3 years ago
Jack Ward is working in product development for an auto parts contractor. Ward’s firm received a large contract last summer to m
77julia77 [94]

Answer: I will notify the auto manufacturer.

Explanation:

I will notify the auto manufacturer if I find myself in such situation. The impact of a good communication in organization should not be underestimated. The ideal thing to do is to make the auto manufacturer aware of the present situation. Communication effectively ensures that the auto manufacturer receive information regarding the transaxle and helps in building a positive relationship.

Not informing the auto manufacturer about the situation with the transaxle will lead to lack of trust and enhance a negative relationship when he eventually founds out about it. One's reputation is also affected if one doesn't inform him and the trans axle eventually breaks down as envisioned.

It is essential that I give him timely updates and adequate information regarding the project.

6 0
3 years ago
Read 2 more answers
Corporation produces a semiconductor chip used on communications. The direct materials are added at the start of the production
iren2701 [21]

Answer:

Equivalents Units Of Production   Materials=  475,000  

Conversion Costs 450,000    

Cost of Completed Units =$ 5138250

Cost of Units in the Ending Inventory           $ 604,500

Explanation:

Direct materials costs of $ 935,750

Conversion costs of $ 4,554,000

Total Manufacturing Costs  $ 5489,750

                           Units                 % of Completion                EUP

                                                D.M         C.C                   D.M         C.C

         

Units completed 425,000     100           100              425,000      425,000

Ending Inventory  50,000      100           50                50,000        25000

Total Units Of Production                                        475,000        450,000                

Direct Materials= $ 935,750/ 475000= $ 1.97

Conversion Costs = $ 4,554,000/ 450,000= $ 10.12

Cost of Completed Units =$ 5138250

Direct Materials = 425,000 * 1.97= $ 837250

Conversion Costs = 425,000 *10.12= $ 4301,000

Total Cost of Manufacturing Units= $ 5138250

Cost of Units in the Ending Inventory           $ 604,500    

Direct Materials = 50,000 * 1.97= $ 98,500

Conversion Costs = 50,000 * 10.12= 506000

Total Costs                  $ 604,500              

7 0
3 years ago
Last month when Holiday Creations, Inc., sold 37,000 units, total sales were $315,000, total variable expenses were $239,400, an
gladu [14]

Answer:

Explanation:

1. What is the company’s contribution margin (CM) ratio?

= sales - variable cost/ sales

= $315,000 - $239,400/$315,000

= $75,600/$315,000

= 0.24 x 100

= 24%

2. What is the estimated change in the company’s net operating income if it can increase total sales by $1,100?

Net operating income

= sales - variable cost - fixed cost

= $315,000 - $239,400 - $39,000

= $36,600

Change in operating income

= $316,100 - $239,400 - 39,000

= $37,700

Contribution margin ratio

= $316,600 - $239,400/316,600

= $77,200/$316,600

= 0.24 x 100

= 24%

Estimated change

=Change in total sales x CMR

= $1,100 x 24%

= $264

6 0
3 years ago
Dr. Peabody recorded $6,820 in services provided to clients who make monthly payments. Which of the following statements is corr
11111nata11111 [884]

Answer:

D. Accounts receivable is debited $6,820; the dental revenues account is credited $6,820.

Explanation:

The two accounts that are affected here are accounts receivables ( Assets) and the revenue account ( affects capital). The accounts receivable will increase as payment is expected at the end month. Since receivable are assets, an increase in receives is recorded as a debit of the account receivable account. $ 6,820 will be debited on the accounts receivables.

The services rendered increases the revenue to Dr. Peabody.  Revenue is considered a capital account because it increases the owner's equity. An increase in a capital account is credited. Dr. Peabody will credit the dental revenue account with $6,820.

3 0
3 years ago
Other questions:
  • What is the answer because I don’t know
    13·1 answer
  • Plack Co. purchased 10,000 shares (2o/o ownership) of Ty Corp. on February 14, Year 1. Plack received astock dividend of 2,000 s
    10·1 answer
  • Lee is the executive of a car manufacturer. Lee decides the appearance of one of his car designs outweighs the desire to make th
    14·1 answer
  • During her speech on malpractice insurance, the head of the local branch of the American Medical Association consistently avoide
    12·1 answer
  • Fabtabtix, a designer clothing brand, has been selling clothes in the country of Grolania for over 30 years. With more number of
    10·1 answer
  • Suppose the demand function for good X is given by: where is the quantity demanded of good X, is the price of good X, and is the
    13·1 answer
  • Nadine Chelesvig has patented her invention. She is offering a patent manufacturer two contracts for the exclusive right to manu
    10·1 answer
  • Which of the following statements regarding the graphs tool are correct? Check all that apply. All graphs contain at least one g
    7·1 answer
  • What must businesses do in order to comply with financial regulations and laws?.
    14·1 answer
  • The purpose of business aviation is to provide safe, efficient, and convenient air transportation to support the mission and goa
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!