These three terms should not be interchanged in a Hospitality and Recreation Management Business. These are the meanings of each:
a. self-service - the customer does all the work on his own (i.e. get water, spoon and fork)
b. limited-service - a usual scenario seen in fast-food chains
c. full-service - hotel services and recreational amenities offer this kind of service.
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.
To see if it works effectively, if it's safe
Answer
The contribution margin ratio multiplied by the selling price per unit equals the contribution margin per unit.
Explanation:
What happens to the contribution margin ratio of a company that produces only a single product is that the contribution margin ratio multiplied by the selling price per unit equals the contribution margin per unit
Answer:
Net Income = $1,250
Explanation:
Benning Co.
Income Statement
For the Month Ended July 31, 2010
Particulars $ $
Revenues 6,000 (1)
Expenses:
Wages Expense 2,600 (2)
Supplies Expense 1,000 (3)
Utilities Expense 600
Insurance Expense 400
Depreciation Expense 150
<em>Total expenses </em><u><em> 4,750 </em></u>
Net Income $1,250
<u><em>Note:</em></u>
1. Revenues = 5,500 + 500 (Adjustment 5) = $6,000
Performed services not recorded will add.
2. Wages expense = $2,300 + 300 (Adjustment 3) = $2,600
Accrued wages not paid will add to the wages expense.
3. Supplies Expense = $1,200 - 200 (Adjustment 2) = $1,000
Supplies expense includes supplies on hand will decrease the supplies expense.
