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klio [65]
3 years ago
10

The biweekly taxable wages for the employees of rite shop follow. Compute the FICA taxes for each employee and the employers FIC

A taxes
Business
1 answer:
Vedmedyk [2.9K]3 years ago
3 0

Although you did not includes the salaries of the employees, it will be simple for you to calculate. FICA is the Federal Insurance Contributions Act, which is made up of social security and Medicare fees. For 2019, the Social Security tax rate is 6.2% on the first $132,900 wages paid. The Medicare tax rate is 1.45% on the first $200,000 and 2.35% above $200,000.

So, for every employee who earned $132,900 or less, it is calculated by multiplying the total earnings by 7.65% (6.2% social security +1.45% Medicare).

For all earnings that are between more than $132,900 and $200,000, it is calculated by multiplying the total earnings by 1.45%. (Medicare)

All earnings above $200,000 are taxed at 2.35% (Medicare).

After calculating each of the people, you will add up the total. The employer matches each of the contributions, so they are the exact same as the total of the employees.

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In a push based system of distribution which relies on selling to customers through a sales force and retail partners, managers
Elanso [62]

Answer:

a) channel members.

Explanation:

A push-based distribution system can be defined as one whose production plan is directed from management to the market, where products are sent through a channel until they reach retailers, and then to the final consumer.

Therefore, managers direct their promotional efforts more towards channel members, so that the path that the product goes through to reach the final consumer is effective so that the product arrives in the right way, in the right quantity and at the right time to the consumer. Effective management of the company 's distribution channel helps to reduce costs, reduce delays, speed up the capacity to meet demand, increase customer satisfaction, etc.

6 0
3 years ago
Pete's Putters sells each putter for $125. The variable cost is $60 per putter and fixed costs total $400,000. Based on this inf
Andreas93 [3]

Based on this information $380,000

<h3>What is information?</h3>

Data is processed, organized, and structured. It contextualizes data and facilitates decision-making processes. A single customer's sale at a restaurant, for example, is data; this becomes information when the business can identify the most popular or least popular dish.

Facts and text features such as a table of contents, pictures, captions, bold print, and a glossary are examples of informational text characteristics. These characteristics assist the reader in finding information, supplementing information presented in text, drawing the reader's attention to key words, and explaining what words mean.

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8 0
2 years ago
California Adventures issues 5,000 shares of 8%, $100 par value preferred stock at the beginning of 2020. All remaining shares a
never [62]

Answer:

See below.

Explanation:

Since the preferred stock is not cumulative only the current years' dividend is payable on these stocks.

Preferred stock dividend = (5000 * 100) * 0.08 = $40,000

Of the declared dividend of $100,000,

Preferred Dividend = $40,000

Ordinary share dividend = $60,000

If the shares were cumulative, the prior year dividends would also be payable form the declared dividends bringing the total preferred dividend to $80,000.

Hope that helps.

3 0
3 years ago
Bantam company calculated its net income to be $38,775 based on the unadjusted trial balance. The following adjusting entries we
Goryan [66]

Answer:

the amount of net income or loss is $39,285

Explanation:

The computation of the amount of net income or loss is shown below:

= Net income + interest earned + unearned revenue - salaries & wages - prepaid insurance

= $38,775 + $375 + $805 - $395 - $275

= $39,285

hence, the amount of net income or loss is $39,285

The same should be considered and relevant

5 0
3 years ago
If a country's economy is to sustain long-run economic growth, the business environment must be conducive to the consistent prod
Aliun [14]

Answer:

True

Explanation:

One of the significant advantages of development is its commitment to monetary development. Basically, advancement can prompt higher profitability. As profitability rises more commodities and are delivered which improves the economic growth. Financial development just originates from expanding quality and amount of the fundamentals of generation, which comprise of four wide types: land, labour, capital, and entrepreneurship. The components of generation are the assets utilised in producing goods and services.

5 0
3 years ago
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