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sattari [20]
3 years ago
13

Barbara is an employee of Baltimore Company. Baltimore Company pays employees the Friday after the wages are earned. Overtime in

excess of 40 hours must be paid at 150% of the normal hourly rate. Social Security taxes are 6.2% and Medicare taxes are 1.45%. The federal unemployment tax rate is 1.0% and the state unemployment tax rate is 3.0%. Barbara's wages, including the current pay period, will not exceed the limits for Social Security, Medicare and unemployment taxes. Barbara earns $16 per hour and worked 48 hours for the week ended January 13 , 2019. Baltimore will withhold $220 federal income taxes. Use this information to determine the total payroll tax expense for Baltimore Company as related to Barbara's earnings. (Round to the closest cent)
Business
1 answer:
LuckyWell [14K]3 years ago
5 0

Answer:

<u>Total Payroll tax expense is $91.336</u>

Explanation:

Normal Wage rate=$16 per hr

Overtime wage tare=$16*150%=$24 per hr

Barbara Normal Income=40*16=640

Barbara Overtime income=6*24=144

Total earnings=640+144=784

Social security tax=784*6.2%=48.608

Medicare taxes=784*1.45%=11.368

Federal unemployment tax=784*1.0%=7.84

State Unemployment tax=784*3.0%=23.52

Total payroll expense for Baltimore company is total of all taxes including extra $220 federal income taxes i.e

$48.608+$11.368+$7.84+$23.52=$ 91.336

Hence, $91.336 will be the total payroll tax expense for Baltimore company.

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Answer: B

Explanation:

With the options given, Johnny can only perform worse if he performs worse than his cumulative GPA and also if he performed less than he ever performed before. The last option about Johnny's performing worse than last semester might not necessarily have an effect on his GPA. A cumulative GPA is the total GPA Johnny has gotten since he started school. The last semester might be one of his best semesters and probably had a good result so getting a result slightly lower than his last semester might not necessarily mean there will be a reduction in his cumulative GPA. So option B is correct.

6 0
3 years ago
Audrey works in the accounting department of Colorado Manufacturing. Today she will use the firm's ledger to summarize informati
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Answer:

trial balance

Explanation:

Based on the information provided within the question it can be said that in this scenario Audrey will prepare a trial balance. This refers to an extensive list detailing all the general ledger accounts that can be found within the ledger of a business, each of which will reveal the name and balance of that account. This is what Audrey is preparing and is one of the main tasks completed by accounting departments.

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Describe the challenges and opportunities of globalization in a ""flattened"" world.
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Answer:

The meaning of a 'flattened' world is that ,globalization, which can be described as inventions and various developments in the technology world , has created a level playing ground, where countries considered as small or minors are now competing with the super-power ones.

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The major challenge of this is that , the rate competition has increased between countries that have great impacts on the resource area of businesses.

And the opportunities are that, new jobs are created or available especially in the information systems and other jobs or occupations involving services.

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4 0
3 years ago
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A fixed cost is a cost which
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Answer:

The answer is c. remains constant in total with changes in the level of activity.

Explanation:

In a cost structure of a firm, for decision-making purpose, it is usually divided into fixed cost and variable cost.

Variable cost is the type of costs which will increase following an additional production of an extra unit of product/service, that is, level of activity has been risen up given the production is taken place. A good example of these cost are material cost, labeling cost.

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3 years ago
Master Production Scheduling is a process that brings all the demand and supply plans for the business (sales, marketing, develo
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Answer:

False

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Master Production Schedule (MPS) gives a formal detail of the production plan and converts this plan into specific material and capacity requirements. The requirements with respect to labor, material and equipment are then assessed.

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