Answer:
The correct answer for option (a) is $3,080 and for option (b) is $2,141.
Explanation:
(a). Current pay = $44
After 40 hours, Pay = $44 × 1.5 = $66
So, we can calculate the gross pay by using following formula:
Gross pay = (40 hours × $44 ) + (20 hours × $66)
= $1,760 + $1,320
= $3,080
(b).
Security Tax = Gross pay × 6% = $3,080 × 6% = $184.8
Medicare Tax = Gross pay × 1.5% = $3,080 × 1.5% = $46.2
Federal Income Tax = $708
So, we can calculate the net pay by using following formula:
Net Pay = $3,080 - $184.8 - $46.2 - $708
= $2,141
Answer:
b. Disclosed and accued as a liability
Explanation:
Expropriation occurs when the government or an authority takes property from its owner to use it publicly.
Answer:
A. An investing activity.
Explanation:
In the statements of cash flows for a given period end, the difference between the opening and closing cash balances for a period is recognized in 3 buckets of activities. These are operating, investing and financing activities.
When an asset is sold for cash, the proceed received from the sale is recognized as an inflow of cash in the section of investing activities in the cash flow statements.
Answer:
b. manufacturing overhead costs.
Explanation:
Manufacturing overhead cost refers to all costs associated with production apart from direct labor or direct materials. They are the indirect costs incurred during the manufacturing process. Manufacturing overhead costs are the production costs that can not be traced directly to the produced items.
Examples of manufacturing overhead costs include depreciation, repairs and maintenance, insurance, and heating costs. Some aspects of the costs, such as depreciation, insurance, rents for the manufacturing space, are fixed costs. They do not vary with production. Other elements of manufacturing costs, such as power, repairs, and utilities, are variable costs.
Answer:
The answer is: $57.30
Explanation:
To determine the expected value of each warranty policy that was sold, we can use the following formula:
expected value = policy price - (probability of failure x cost of replacement)
expected value = $60 - (0.6% x $450)
expected value = $60 - $2.70 = $57.30
