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
tigry1 [53]
4 years ago
11

John worked 43 hours last week. His hourly rate is $9.00. He has the following deductions taken from his pay: Social Security ta

x at the rate of 6.2 percent, Medicare tax at the rate of 1.45 percent, health insurance premiums of $15.00, and 401(k) contributions of 5 percent of gross pay. John also has federal income tax withheld at the rate of 10 percent. Federal taxes do not apply to the 401(k) contribution. John’s net pay for last week was what? Please keep keep in mind the overtime hours beginning at 40 and overtime rate being 1.5 times more than usual pay.
Business
1 answer:
DochEvi [55]4 years ago
4 0

Net pay is calculated by subtracting deductions from Net Pay.

In this case:

Gross Pay is 40 hours X $9/hr (regular pay) PLUS 3 hours X (13.50 -- 1.5 times the normal pay) for overtime

Once you have Gross Pay, you multiply that by the percentages given for the deductions and subtract that total from Gross Pay.

One note, in this case, federal taxes are not withheld from the amount given to 401(k). So to figure the taxes you would:

(Gross Pay - 401(K) contribution) X 10%

Gross Pay - deductions = net pay

You might be interested in
The number one reason for failure of new business is
Ipatiy [6.2K]
The number one reason for failure of a new business is poor management.


Hope that helped! (:
4 0
3 years ago
A company reports the following information for the year: Net credit sales $ 120,000 Average accounts receivable 20,000 Cash col
Alborosie

Answer:

receivable turnover ration = 6

Explanation:

credit sales = 120000

Credit sales =As we know that: Receivables turnover ration = Net credit sales /Average account receivable.

                                 =    120000/ 20000

                                 = 6.

it indicates that company convert its receivable to cash 6 times that year.

7 0
3 years ago
Assume the economy is operating at full employment. If the economy enters a sudden economic expansion, the quantity of money ava
eduard

Answer:

the qquantity of money available in the economy will increase because there will be more foreign  investments plus now the economy will start exporting and will reduce its imports so the quantity of money will increase.

3 0
3 years ago
Read 2 more answers
Which of the following is an inconsistency of using market multiples to determine value? A) Using a market multiple assumes that
VikaD [51]

Answer:

B) Using a market multiple assumes that the target company is mispriced, while comparable companies are correctly priced.

Explanation:

Market Multiple, also known as trading multiples, is used to compare two financial measures, to determine the value of a company. It is another name for Price to Earnings Ratio (also called P/E Ratio).

Using the market multiple approach, investors can determine whether stocks in their portfolios will increase or decrease in price through the next term. Investors may then buy or sell stocks in order to maximize their expected gains calculated.

6 0
3 years ago
if your yearly pension was $46,875.00, what is your monthly pension? choose the best answer from the options below: a $3706.25 b
emmasim [6.3K]
The correct answer is B

5 0
3 years ago
Other questions:
  • New technology lowering the costs of production will cause the equilibrium price to ______________ and the equilibrium quantity
    6·2 answers
  • Interstate 4 (i-4) and state road 408 are two major highways that affect traffic flows in orlando. motorists are not required to
    11·1 answer
  • A vice president of operations wants to evaluate the impact of reducing manufacturing expenses on the firm's return on assets. W
    13·1 answer
  • A consumer products company is analyzing data collected and published by trade associations and general business magazines. This
    13·1 answer
  • Courier Logistics Corp. will issue $2,400,000 in 8-year bonds that pay 5% annually. The market rate for bonds of similar riskine
    7·1 answer
  • Vital Industries manufactured​ 2,400 units of its product Huge in the month of April. It incurred a total cost of​ $132,000 duri
    8·1 answer
  • Think of today's problem with battery recycling...
    13·2 answers
  • Alexandra owns stock in a corporation, and she just received 100 additional shares of stock as part of the corporation’s distrib
    14·1 answer
  • suppose you have 100$.Each apple cost $1 and each banana cost $2.draw a picture showing the limitations of what you can buy​
    5·1 answer
  • A company manufacturing shirts for a discount department store decides to create a new style of cotton shirt. The company would
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!