Answer:
The correct answer is D.John is considered as an exempt employee.
Explanation:
Some employees are exempt from overtime pay provisions, even when they are covered by other FLSA provisions. Although the actual determination of the exempt and non-exempt status is complex, exempt employees usually meet three tests: payments greater than US $ 455 per week, receive a salary instead of an hourly rate and perform a job in an exempt category listed by the US Department of Labor. Exempt categories include supervisors, managers, professional services and some administrative jobs.
Answer: The answer is $ 49,950
Explanation:
The profit for the first year is $45,000
The increase in profit is 5.5%
Increase in profit
= 5.5/100*45,000
= $2,475
To calculate the profit for the second year
Profit + increase in profit
$45,000 +$2,475
= $47,475
To calculate the profit for the third year
Profit + increase in profit
$ 47,475 + $ 2,475
= $ 49 950
Therefore, The profit for the first year is $ 45,000, The second year profit is $47,475, For the third year the profit is $ 49,950
Answer:
Ryan Management
Journal Entries
Date Particulars Debit'million Credit'million
31-Dec-22 Income tax expense $219.50
To Income tax payable $190
($760 * 25%)
To Deferred tax asset $29.50
[($194 - $76)*25%]
(To record income tax expense and reversal of Deferred
tax asset)
Answer:
Asset= $37,313
Explanation:
Fixed assets are the component of a firm's asset that is fixed during the production process. The other component of asset is the current assets, that are convertible to liquid assets that can be used in the production process.
Net working capital= current assets- current liabilities
Current liabilities= Current assets- Net working capital
Current liabilities= 6,650- 2,507= $4,143
Total liabilities= current liabilities+ long term liabilities
Total liabilities= 4,143+ 10,640
Total liabilities= $14,783
According to the accounting formula
Asset= liabilities+ owner's equity
Asset =14,783+ 22,530
Asset= $37,313
If fixed costs increase, the break-even point in units will increase.
Predetermined overhead rate=$360,000/60,000=$6 per direct labor hour...Applied overhead=$6´9,350=$56,100. The overhead applied to production in September was $56,100.
Hope this helps, now you know the answer and how to do it. HAVE A BLESSED AND WONDERFUL DAY! As well as a great rest of Black History Month! :-)
- Cutiepatutie ☺❀❤
