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Alja [10]
3 years ago
15

On January 1, 2021, G Corporation agreed to grant all its employees two weeks paid vacation each year, with the stipulation that

vacations earned each year can be taken the following year. For the year ended December 31, 2021, G's employees each earned an average of $720 per week. A total of 550 vacation weeks earned in 2021 were not taken during 2021. Wage rates for employees rose by an average of 7 percent by the time vacations actually were taken in 2022. What is the amount of G's 2022 salaries expense related to 2021 vacation time? Multiple Choice $396,000. $423,720. $0. $27,720.
Business
1 answer:
podryga [215]3 years ago
3 0

Answer:

$27,720

Explanation:

Calculation for the amount of G's 2022 salaries expense related to 2021 vacation time

First step is to find the Total salary expenses

G's employees earned average of $720 per week

Total vacation week in 2021 were not taken 550 week

Hence,

Total salary expense of G corporation = $720 per week × 550

Total salary expenses = $396,000

Second step is to calculate the salaries expense amount related to 2021 vacation time

Using this formula

Salaries Expense of G's 2022 = Total salary expenses × Wage rate

Let plug in the formula

Salaries Expense of G's 2022 = $396,000 × 7%

Salaries Expense of G's 2022

The amount of G's 2022 salaries expense = $27,720

Therefore the amount of G's 2022 salaries expense related to 2021 vacation time will be $27,720

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3 years ago
150-seat restaurant $8,000,000 is needed to construct the restaurant; no additional investment is needed in working capital.
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The answer is $7400000

Explanation:

Solution

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The reverse calculation to find sales is computed as follows:

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From the calculation of each term is as stated below:

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The  borrowed fund from bank = $2000000 (8000000-6000000)

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4. Undistributed Expenses is stated as follows:

The Undistributed expenses are given in the question = $2000000.

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From the question it is given that it is 50% of the sales, which means the remaining 50% is the contribution.

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The contribution on reverse calculation is  computed as:

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