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azamat
3 years ago
13

Joe makes an hourly salary of $8.10 for 40 regular hours of work. For each hour worked over 40 hours, he is paid at a rate of $1

2.15 per hour. Last week Joe worked 45 hours. He has withholdings of social security tax (6.2%), medicare tax (1.45%), federal tax ($61.12), state tax ($21.03), city tax ($6.01), pension ($4.12), disability insurance ($1.31), medical insurance ($13.05), and dental insurance ($5.46).
a. What is Joe’s Medicare tax deduction?
b. What is Joe’s Social Security deduction?
c. What is Joe’s Medicare tax deduction?
d. Joe’s other deductions are: federal tax 21.03, city tax 4.12, disability insurance 13.05, and dental insurance $5.46.
What are Joe’s total deductions for this pay period?
e. What is Joe’s net pay for this pay period?
f. If Joe pays the same amount for medical insurance each weekly pay period, what is his annual premium?
g. Does Joe receive time-and-a-half, double-time, or triple-time for each hour of overtime?
Business
1 answer:
Vladimir79 [104]3 years ago
6 0

Answer:

a. What is Joe’s Medicare tax deduction?

  • $384.75 x 1.45% = $5.58

b. What is Joe’s Social Security deduction?

  • $384.75 x 6.2% = $23.85

c. What is Joe’s Medicare tax deduction?

  • $384.75 x 1.45% = $5.58

d. Joe’s other deductions are: federal tax 21.03, city tax 4.12, disability insurance 13.05, and dental insurance $5.46.

What are Joe’s total deductions for this pay period?

  • $23.85 + $5.58 + $21.03 + $4.12 + $13.05 + $5.46 = $73.09

e. What is Joe’s net pay for this pay period?

  • $384.75 - $73.09 = $311.66

f. If Joe pays the same amount for medical insurance each weekly pay period, what is his annual premium?

  • $13.05 x 52 = $678.60

g. Does Joe receive time-and-a-half, double-time, or triple-time for each hour of overtime?

  • time and a half

Explanation:

total gross salary = (40 x $8.10) + (5 x $12.15) = $384.75

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Answer:

Apps,streamline

Explanation:

The QuickBooks EcoSystem can be regarded as a quick box software along with different apps that has connection with it. It brings about good functionality in Businesses, through QuickBooks EcoSystem, accountant of a company can easily connect with different apps that allows to manage client and improve productivity. It should be noted QuickBooks Online ecosystem gives you and your clients access to a wide range of apps to help streamline their business and increase efficiencies.

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3 years ago
Imagine you have some workers and some handheld computers that you can use to take inventory at a warehouse. There are diminishi
skad [1K]

Answer:

a. The cost of inventorying a single item is $1.00 per item.

b. The cost of inventorying a single item is $0.86 per item.

c. The cost of inventorying a single item is $0.95 per item.

d. The cost of inventorying a single item is $1.08 per item.

e. You should assign two workers per computer in order to minimize the cost of inventory per single item.

Explanation:

Note: This question is not complete. A complete question is therefore provided before answering the question as follows:

Imagine you have some workers and some handheld computers that you can use to take inventory at a warehouse. There are diminishing returns to taking inventory. If one worker uses one computer, he can inventory 125 items per hour. Two workers sharing a computer can together inventory 175 items per hour. Three workers sharing a computer can together inventory 185 items per hour. And four or more workers sharing a computer can together inventory fewer than 185 items per hour. Computers cost $100 each and you must pay each worker $25 per hour.

a. If you assign one worker per computer, what is the cost of inventorying a single item? Instructions: Round your answer to two decimal places. $ _____ per item

b. If you assign two workers per computer, what is the cost of inventorying a single item? Instructions: Round your answer to two decimal places. $ _____ per item

c. If you assign three workers per computer, what is the cost of inventorying a single item? Instructions: Round your answer to two decimal places. $_____ per item

d. If you assign four workers per computer, what is the cost of inventorying a single item? Instructions: Round your answer to two decimal places. $_____ per item.

e. How many workers per computer should you assign if you wish to minimize the cost of inventory per single item? _____ worker(s) per computer

The explanation to the answer is now provided as follows:

Note: See the attached excel file for all the calculations.

a. If you assign one worker per computer, what is the cost of inventorying a single item? Instructions: Round your answer to two decimal places. $ _____ per item

The cost of inventorying a single item is <u>$1.00 per item.</u>

b. If you assign two workers per computer, what is the cost of inventorying a single item? Instructions: Round your answer to two decimal places. $ _____ per item

The cost of inventorying a single item is <u>$0.86 per item.</u>

c. If you assign three workers per computer, what is the cost of inventorying a single item? Instructions: Round your answer to two decimal places. $_____ per item

The cost of inventorying a single item is <u>$0.95 per item.</u>

d. If you assign four workers per computer, what is the cost of inventorying a single item? Instructions: Round your answer to two decimal places. $_____ per item.

The cost of inventorying a single item is <u>$1.08 per item.</u>

e. How many workers per computer should you assign if you wish to minimize the cost of inventory per single item? _____ worker(s) per computer

To minimize the cost of inventory per single item, you should assign the number of workers at a point where the cost inventorying a single item is the lowest.

From from parts a to d above, the <u>lowest cost of $0.86 per item </u>of inventorying a single item is obtained in part b when you assign two workers per computer.

Therefore, you should assign two workers per computer in order to minimize the cost of inventory per single item.

Download xlsx
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3 years ago
Ottawa university sold 15,000 season football tickets at $80 each for its six-game home schedule. what entry should be made when
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Answer and explanation:

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3 years ago
If the actual output of a piece of equipment during an hour is 500 units and its best operating level is at a rate of 400 units
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Answer:

d. 1.25

Explanation:

In a business context, the capacity utilization rate is a value that allows the company know how well they are performing compared to what the recorded optimal levels are. In order to calculate this value we simply divide the current operating level for a specific time-period by the optimal level of that same time period, which in this case would be 1 hour. Therefore, in this case we would divide 500 by 400 which would give us 1.25.

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