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3 years ago

Which of the following taxes are paid by the employee and the employer?a. FUTAb. SUTAc. FICAd. Federal withholding taxes

Business

1 answer:

Basile [38]3 years ago

7 0

Answer:

The correct answer is letter "C": FICA.

Explanation:

FICA (<em>Federal Insurance Contributions Act</em>) tax is a mandatory deduction taken from employees' payment to cover elder American's Social Security and Medicare. It is a 12,4% deduction financed by two parts: half of that amount is taken from the worker's paycheck and the other half is paid by the employer.

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Finn Manufacturing Company uses a job order cost accounting system and keeps perpetual inventory records. June 1 Purchased raw m

Gelneren [198K]

Answer:

raw materials 20000 debit

accounts payable 20000

WIP 8000 debit

factory overhead 1000 debit

raw materials 9000 credit

WIP 84000 debit

factory overhead 24000 debit

wages payables 108000 credit

factory overhead 10100 debit

cash 10100 credit

WIP 49000 debit

factory overhead 49000 credit

Finished Goods 18000 debit

WIP inventory 18000 credit

COGS 15000 debit

Finished Goods 15000 credit

Explanation:

The indirect materials and labor will be considered actual factory overhead thus debited into that account

same procedures applies to the repair and utilities paid in cash we have to posted into factory overehad

from the cost sheet we determiante 7,000 labor hours we apply the $7 overhead rate per our to get the amount of applied overhead

The finished goods will increase while the WIP inventory decrease by the ammount transferred out

The COGS is an expense which decreases our finished goods inventory as we sale them and are no longer in our possesion.

5 0

3 years ago

Rose decides she wants to begin her own business, marketing toward online game players. Which of the following best answers the

marta [7]

The best option is B Paint Space game Online character portraits to sell on her website.

Rose decides she wants to begin her own business, marketing toward online game players. The statement which best describe the economic question What to produce is Paint Space game Online character portraits to sell on her website.

3 0

3 years ago

Bob is hired by Carol to collect outstanding balances owed to her by her customers. However, Bob is not an attorney and cannot f

Sliva [168]

Answer:

A sub-agent

Explanation:

Since Mike who was hired by Bob is licensed to practice law, which would help him file a lawsuit against those who don't pay the outstanding balances owed, he is a sub-agent.

A sub-agent in legal law is someone who performs a fiduciary duty and incurs the same liabilities in regard to his immediate employers, like the sole principal.

4 0

3 years ago

An investment bank agrees to underwrite an issue of 15 million shares of stock for Looney Landscaping Corp.

Naya [18.7K]

Answer:

A) Looney Landscaping will receive $187,500,000 (= $12.50 x 15,000,000 shares)

The bank's profit will be $11,250,000 (= ($13.25 - $12.50) x 15,000,000 shares)

B) Looney Landscaping will receive $166,260,000 (= ($12.50 - $0.275) x 13,600,000 shares)

The bank's profit will be $3,740,000 (= $0.275 x 13,600,000 shares)

If the stocks are sold at $11.95 per share, then Looney Landscaping will receive $158,780,000 (= ($11.95 - $0.275) x 13,600,000 shares)

The bank's profit will be the same, $3,740,000

6 0

3 years ago

In the production of a wooden chair within the circular flow model, what would the resource market include?

lidiya [134]

Answer:

forest/trees

Explanation:

4 0

3 years ago