$3878.55
Explanation:
Step 1 :
It is given that Kristy has a biweekly gross earnings of $1950.
Since it is bi-weekly payments there are 26 payments in the year.
Gross earnings per year = 1950 * 26 = $50,700
Step 2 :
It is given that the social security tax is 6.2% up to $128,400. Kristy's earnings of 50,700$ does not exceed the threshold $128,400, hence 6.2% of her entire income is subject to social security withholding.
Social security withholding = 6.2% of 50,700 = 6.2*50700/100 = $3143.40
Step 3 :
It is given that Medicare tax is 1.45% with no wage limit
Medicare withholding = 1.45% of 50,700 = 1.45*50700/100 = $735.15
Total withholding = Social Security withholding + Medicare withholding 3143.40 + 735.15 = $3878.55
Answer:
The amount of revenue to be recognized at 31st March is $383500
Explanation:
The revenue amount that should be recognized in the income statement as at March 31,2020 is the sales price of $365000 plus three months of installation fee since installation is expected to last six months and three months have passed since installation began.
Hence, the amount of revenue as at 31st March is calculated thus:
Sales price $365000
Installation fee for 3 months(3/6*$37000) <u>$18500</u>
Total revenue as at 31st March $ 383,500
The rationale behind this is that revenue is only recognized when the seller has discharged his or her obligation under the contract not when cash is received and it is very clear that installation has been undertaken for 3 out of 6 months
Answer:
A business owner pays for rent and equipment at their office ⇒ FIXED COSTs since the amount of rent paid should be the same year after year
An airline considers the costs of serving food and beverages to its passengers ⇒ VARIABLE COSTS since the cost of serving food will increase as the number of passengers increase, or will decrease if the number of passengers decrease
A company considers the costs it pays to its employees ⇒ VARIABLE COSTS since the number of employee can vary and the number of hours worked can also vary
A clothing manufacturer buys new machines for its factory ⇒ FIXED COSTS since the machines are depreciated at a predetermined rate that doesn't depend on the factory's output
<u>Solution and Explanation:</u>
- the total sales of calendars is as follows:
7200 multiply with $5 each = $36000
- In order to find out the profit, the toal of sales is to be subtarcted with costs. The given sales is $36000, costs is $19183
Thus, the total profit = $16817
95% of 10080 canot be taken in order to find out the correct number. 5% enrollment growth, is as follows:
10080 = 1.05 multiply "x"
thus, calculating x = 9600
- The number of studnets are 9600 in the last semester out of which 7200 bought calendar. 7200 divide 9600 = 75.0 percent sales penetration.
Answer:
aggregate demand curve; right
Explanation:
Inflation can be regarded as
when the level of price of goods/service increases for consumer to buy, it can be measured as a result of change in price. There are four types of level of inflation which are creeping, walking as well as galloping, and hyperinflation, which are measured base on speed. It should be noted that For a given level of inflation, if a rise in the stock market makes consumers more willing to spend (the wealth effect), then the aggregate demand curve shift right
