The state income tax owed on the $40,000 salary should be $1,800.
- The calculation of the state income tax owed on $40,000 salary should be:
= 3% of $10,000 + 5% of $30,000
= $300 + $1,500
= $1,800
Therefore we can conclude that the state income tax owed on the $40,000 salary should be $1,800.
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Because take me for an example i want to be a marine biologist and a doctor and a missionary well that right there is 3. so the are divided because you can always choose more.
The information needed to make the journal entries to record the wages and salaries expenses comes from THE PAYROLL REGISTER.
Each bussiness set up has a payroll register. The payroll register is used to keep the record of pay periods, the information contained in the register include: dates, employee names, hours worked, gross pay, net pay, deductions, etc.
Answer:
Margin of safety= 950 units
Explanation:
<u>First, we need to calculate the break-even point in units:</u>
Break-even point in units= fixed costs/ contribution margin per unit
Break-even point in units= 42,000 / (54 - 14)
Break-even point in units= 1,050
<u>Now, the margin of safety in units:</u>
<u></u>
Margin of safety= (current sales level - break-even point)
Margin of safety= 2,000 - 1,050
Margin of safety= 950 units