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Snowcat [4.5K]
3 years ago
7

An employee earns $5,550 per month working for an employer. The FICA tax rate for Social Security is 6.2% of the first $128,400

earned each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. The employee has $184 in federal income taxes withheld. The employee has voluntary deductions for health insurance of $152 and contributes $76 to a retirement plan each month. What is the amount of net pay for the employee for the month of January
Business
1 answer:
Klio2033 [76]3 years ago
3 0

Answer:

$4,713.425

Explanation:

The computation of amount of net pay for the employee for the month of January is shown below:-

Deductions = (Gross earning × Social security tax rate) + (Gross earning × Medicare tax rate) + Federal income taxes + Health insurance + Contribution of retirement plan

=  ($5,550 × 6.2%) + ($5,550 × 1.45%) + $184 + $152 + $76

= $344.1 + $80.475 + $184 + $152 + $76

= $836.575

Net pay = Gross earning - Deductions

= $5,550 -  $836.575

= $4,713.425

Therefore for computing the net pay we simply applied the above formula.

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Verma, Inc. sells office furniture. In 2021, it sold 200 desks for $500 each. For each desk sold, Verma distributed a 50% discou
Effectus [21]

Answer:

$12

Explanation:

The standalone price is the price at which the seller (Verma) would sell its products or services (discount coupon) separately to other customers.

to determine the standalone price of the discount coupon we must multiply the change in discount by the expected use of the coupons:

  • change in discount = $150 x (50% - 10%)  = $150 x 40% = $60
  • expected use = 20%

= $60 x 20% = $12

3 0
3 years ago
A company purchased $6,500 of merchandise on May 1 with terms of 2/10, net 30. On May 6, it returned $500 of that merchandise. O
viktelen [127]

Answer:

The cash paid on May 8 is: $5,880

Explanation:

Credit terms of 2/10, net 30 means that 2% discount for the payment within 10 days and the full amount to be paid within 30 days.

The company purchased $6,500 of merchandise on May 1. On May 6, it returned $500 of that merchandise.

The balance owed for merchandise = $6,500 - $500 = $6,000

On May 8, it paid the balance owed for merchandise, taking any discount it is entitled to.

The company took the appropriate discount:

2% x $6,000 = $120

The cash paid = $6,000 - $120 = $5,880

5 0
3 years ago
you invest $1300 in an account at interest rate r, compounded continuously. Find the time required for the amount to double and
miskamm [114]

Answer:

  • 1. <em>For the amount to double</em>: <u>9.37 years</u>
  • 2. <em>For the amount to triple</em>: <u>14.85 years</u>

Explanation:

The equation for continuosly compounded interest is:

  • F=P\times e^{rt}

Where:

  • P is the amount that you invest today: $1,300
  • F is the value after t years: the double or triple of $1,300
  • r is the annual interest rate: 0.074

<u>1. For the amount to double:</u>

Substitute the values and solve for t:

             2\times \$1,300=\$1,300\times e^{0.074t}\\ \\ 0.074t=\ln 2\\ \\ t=\ln 2/0.074=9.37years

<u>2. For the amount to triple:</u>

<u />

            3\times \$1,300=\$1,300\times e^{0.074t}\\ \\ 0.074t=\ln 3\\ \\ t=\ln 3/0.074=14.85years

4 0
3 years ago
What osi layer encrypts data sent from network​
Lelechka [254]
The sixth OSI layer.
It formats and encrypts data that gets sent across a network.
Can also be called the syntax layer.
5 0
2 years ago
Which is not a mandatory subject matter for good-faith bargaining? a. seniority b. insurance c. pension plans d. strike vote e.
maksim [4K]

Answer:

The correct answer is letter "D": strike vote.

Explanation:

Collective Bargaining is the act by which employees organized in labor unions negotiate with employers (mainly managers) about compensations and work conditions. <em>Wages, working hours, merit pay, </em>and <em>vacation length</em>, are common topics of discussion between the two parties.

<em>A strike is the stop of operations of a company because of unattended labor union request. The decision of going on a strike or not relies merely on the union and the </em><u><em>strike vote</em></u><em> is subject to that group only.</em>

4 0
3 years ago
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