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
liberstina [14]
3 years ago
5

For questions 1-10 fill in the blank with the letter of the term or description that best matches the term.

Business
1 answer:
yKpoI14uk [10]3 years ago
7 0

Answer:

Explanation:

1. Deductions

Deductions are amounts deducted from a gross amount. These deductions include both mandatory deductions that are required by law, and voluntary deductions are not legally required.

2. methods of paying employees

You can pay them by cash or direct bank transfer. But direct bank transfer is more secure way for payments.

3. commission

Commission is a sum of money that is paid to an employee upon completion of a task, usually the task of selling a certain amount of goods or services. It can be paid as a percentage of the sale or as a flat dollar amount based on sales volume.  

4. hourly rate

A fixed hourly rate of pay means you have a set amount you're paid for each hour of work you perform. Unlike a salary where you make the same amount regardless of how much time you work, hourly workers are paid for exactly the amount of time they spend working

5. salary

Salary is a fixed amount of money or compensation paid to an employee by an employer in return for work performed. Salary is commonly paid in fixed intervals, for example, monthly payments of one-twelfth of the annual salary.

6. standard deductions

Standard deductions are the portion of income not subject to tax that can be used to reduce your tax payable.  It is a dollar amount that is subtracted from their income before income tax is calculated. It reduces your total tax payable.

7. withholdings

Withholding is the portion of an employee's wages that is not included in his or her paycheck but is instead remitted directly to the federal, state, or local tax authorities. Withholding reduces the amount of tax employees must pay when they submit their annual tax returns. It is basically the amount deducted from the gross pay and usually paid to statutory authorities.

8. specific required deductions

These are mandatory deductions required to be deducted from employees gross pay. Employer has to deduct them from every employee.

9. voluntary deductions

Voluntary deductions are amounts which an employee has elected to have subtracted from gross pay. You are not required by law to deduct them unless employees opts them. Examples are group life insurance, healthcare, accident, disability and life insurance; retirement plan, and/or other benefit deductions.

10. payroll register

A payroll register is the record for a pay period that lists employee hours worked, gross pay, net pay, deductions, and payroll date. In other words, a payroll register is the document that records all of the details about employees' payroll during a period.

You might be interested in
What is important to remember when asking a person to be part of your employment network?
AVprozaik [17]

The important thing to remember when asking a person to be a part of your employment network is that to always to think that an individual has their own strength and weaknesses and it’s up to you to take note whether it is an asset to the company.

3 0
3 years ago
The fact that the price of diamonds is higher than the price of water:
STALIN [3.7K]

Answer: D

Explanation:

Behavioral economics studies the impact of cognitive, psychological, cultural, emotional and social factors on individuals economic decisions. Behavioral economics is concerned with the extent of rationality of individuals, firms and governments. The study includes how market choices are made and the components that propel public choices.

Behavioral economics is important because it gives us an idea about how the mind of humans work. The greater the supply of a particular good, the more we use the good, the less we appreciate it. There are oceans of water and we always get water easily but there are fewer diamonds embedded and hidden in rocks which are not cheap and readily available.

8 0
3 years ago
There are three houses. One is red, one is blue, and one is white. If the red house is to the left of the house in the middle, a
Marta_Voda [28]
The white house is in the middle. Good riddle!
4 0
3 years ago
Koffee Express operates a number of espresso coffee stands in busy suburban malls. The fixed weekly expense of a coffee stand is
sergey [27]

Answer:

1.

* Number of Cups of coffee served in a week is 1,800:

Fixed cost: $1,100

Variable cost: $0.26

Total cost average cost per cup: $0.87 ( which is calculated as Total Fixed cost/Total of cups served + Variable cost per unit = 1,100/1,800 + 0.26)

* Number of Cups of coffee served in a week is 1,900:

Fixed cost: $1,100

Variable cost: $0.26

Total cost average cost per cup: $0.84 ( which is calculated as Total Fixed cost/Total of cups served + Variable cost per unit = 1,100/1,900 + 0.26)

* Number of Cups of coffee served in a week is 2,000:

Fixed cost: $1,100

Variable cost: $0.26

Total cost average cost per cup: $0.81 ( which is calculated as Total Fixed cost/Total of cups served + Variable cost per unit = 1,100/2,000 + 0.26)

2.

The average cost per cup of coffee served decreases as the number of cups of coffee served in a week increases.

This is because average cost per cup of coffee served is equal to the sum of allocated fixed cost to one cup of coffee + variable cost of one cup of coffee. Although the variable cost of one cup of coffee remains the same given changes in the number of cups served, the allocated fixed cost to one cup of coffee decreases as the cups served increases as Total fixed cost remained the same, yet it will be allocated to more cup served, so the amount allocated to one cup served will decreases.

A formula will make it easy to understand:

Average cost per cup of coffee served = Variable Cost + Total Fixed cost/Total of cups served. Variable cost and total fixed cost remains the same with the variation of number of cup served; thus as number of cups served increases, Average cost per cup of coffee served decreases.

Explanation:

7 0
3 years ago
Problem 9-52 Part-b (Static) b. $800 of interest on a short-term loan incurred in September and repaid in November. Half of the
bazaltina [42]

Answer:

After-tax cost $652

Explanation:

$652 = $800 [1 − (0.5 × 0.370)]. Half of the interest is not deductible because it was used to purchase tax-exempt securities.

4 0
3 years ago
Other questions:
  • What is one disadvantage to consumers of a rebate offer?
    15·2 answers
  • - - - - - is the fundamental goods or services offered to the consumer
    8·1 answer
  • 6. Problems and Applications Q6 Daniel Patrick Moynihan, the late senator from New York, once introduced a bill that would levy
    13·1 answer
  • Which of the following is not a payroll tax deduction?
    12·1 answer
  • In a labor market comprising many firms hiring many workers with identical skills, which of the following is correct?
    14·1 answer
  • Consider the following: Cash in Bank - checking account of $18, 500 Cash on hand of $500. Post dated checks received totaling $3
    14·1 answer
  • For more and more businesses, computing is moving from PCs and desktop machines to tablets and smartphones. Managers are increas
    14·1 answer
  • The Hype Company's currently outstanding bonds have a 10 percent coupon and a 11 percent yield to maturity. Hype believes it cou
    7·1 answer
  • Cuando cambia el valor nominal de una accion
    11·1 answer
  • suppose that when the price of hamburgers​ decreases, the ruiz family increases their purchases of ketchup. to the ruiz​ family,
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!