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Alex777 [14]
3 years ago
9

Sales tax is calculated

Business
2 answers:
Daniel [21]3 years ago
7 0

To calculate sales tax you must:

1. Know the sales tax rate

2. Use the sales tax formula which is

Sales Tax = Total Sales X Sales Tax Rate

Example:

You have a business and you must collect a sales tax at a rate of 8.00%. Your customer bill before adding tax is $399.

Sales tax = $399 times 0.08

Sales tax would be $31.92.

$399 + $31.92 = $430.92 would be the total including sales tax.

Mariana [72]3 years ago
5 0

B. using a percentage of the price of an item.

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In 2019, Willow Corporation had three employees. Two of the employees worked full-time and earned salaries of $25,000 each. The
Lady_Fox [76]

Answer:

FUTA tax due from the corporation is $108

 

Explanation:

The First and Second employee earned 7000 each

The Third employee earn earns 4000

Paid under State Unemployment Tax by the employer is = (7000+7000+4000) x 5.40% =$972

How much FUTA tax is due from Willow Corporation for 2019?

Credit of tax paid in State Unemployment Tax is availabe for FUTA tax of 6%, thus FUTA due will be:

=(6% of 18000) - $972

=1080-972

=$108

5 0
3 years ago
Select which of the ways that entrepreneurs improve the economy is being described:
8_murik_8 [283]

Answer: (B) Demand for products

Explanation:

 The demand for the products is basically refers to the process in which the amount of the specific products are get purchased for the particular price so that the one business organization increase their productivity and the other business meets its specific requirement.

There are basically five factors which determine the demand of products function in an organization are as follows:

  • Income of the buyer
  • Price
  • Customer choice
  • The actual price of the related other products
  • Future supply expectations

Therefore, Option (B) is correct.

4 0
3 years ago
In many developing countries, the majority of citizens make their living through microenterprises- informal, tiny businesses tha
natita [175]

Answer:

The company provides micro financial services to poor and the needy people having no access to regular banking services

This helps to boost small businesses and financial inclusion which are heart of any economy and vital to the economy and promoting growth.

Possible measures taken by the organization includes providing funds for at lower interest rates and providing credit services. Subsidized credit to deficient areas increases productivity and employment growth by means of boosting the small and medium-sized enterprises.

This may work in poor communities in United States. However in united schemes there are lots of other governmental schemes such as coupons, free food etc program are already running.

However, these programs are also carrying a potential here. But there potential is much greater in poor countries having less developed banking and financial reach.    

Explanation:

6 0
3 years ago
Break-Even Point
11111nata11111 [884]

Answer:

The right answer is:

(a) 5916 units

(b) 5046 units

Explanation:

Given:

Sales,

= $59

Variable cost,

= $30

Fixed cost,

= $171,564

Increased sale,

= $64

Now,

(a)

Contribution margin will be:

= Sales - Variable \ cost

= 59-30

= 29 \ per \ unit ($)

hence,

Breakeven will be:

= \frac{Fixed \ cost}{Contribution \ margin}

= \frac{171564}{29}

= 5916 \ units

(b)

Contribution margin will be:

= Sales-Variable \ cost

= 64-30

= 34 \ per \ unit ($)

hence,

Breakeven will be:

= \frac{Fixed \ cost}{Contribution \ margin}

= \frac{171564}{34}

= 5046 \ units

5 0
2 years ago
As the price of jeans rises, Levi Strauss is likely to A. decrease production and thus decrease the supply. B. increase producti
LUCKY_DIMON [66]

Answer:

B. Increase production and thus increase the supply.

Explanation:

As the price of Jeans rises, the Levi Strauss is likely to increase production keeping other factors constant as per the law of supply, where quantity is directly proportional to the price of goods and services. As the price of goods increase, the quantity supply of product also increased by supplier or manufacturer to maximize the profit out of the current market condition.

8 0
3 years ago
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