Answer:
Total weekly pay of August = = $ 1468.75
Explanation:
Annual salary = $30,000
Monthly Salary = $ 30,000/12= $ 2500
Salary for 40 hours * ( 4 weeks) = 160 hours = $ 2500
Salary for 1 hour= $ 2500/160= $ 15.625= $ 15.63
He worked additional 4 hours so pay for four hours is = 4 * 15.63= $ 62.5
But as he is a non exempt employee he is entitled to get 1.5 times higher than normal pay for over time so
he will be paid $ 62.5 * 1.5= $ 93.75 for over time
Commission on Sales = 3 % of $25,000
= $ 750
Weekly pay= $ 2500/4= $ 625
Total weekly pay of August = Weekly pay + Commission + Overtime
= $ 625 + $ 750 + $ 93.75
= $ 1468.75
Answer:
$39,220
Explanation:
The maturity value of the note receivable on June 30, 2012
= Principal + Interest
= $40,000 + $40,000 x 6%
= $40,000 + $2,400
= $ 42,400
The note is discounted on September 30, 2011. Time period remaining to go till maturity as on September 30, 2011
= 12 - 3 months ( July, Aug and Sep)
= 9 months.
Amount of deduction
= $ 42,400 x 10% x 9/12
= $ 3,180
Finally, the Cash received by Ireland will be
= Maturity value - Discount
= $42,400 - $ 3,180
= $39,220
Answer:
$22,750
Explanation:
Data provided
Fixed manufacturing overhead = $16,500
Units produced = 5,000
Variable manufacturing overhead = $1.25
The computation of the total amount of manufacturing overhead cost is shown below:-
Manufacturing overhead = Fixed manufacturing overhead + Variable manufacturing overhead
= $16,500 + (5,000 × $1.25)
= $16,500 + $6,250
= $22,750
Answer:
Profit margin = 9.74%
Explanation:
We know,
Profit Margin = (Net income after tax/Net sales) x 100
Profit margin is a profitability ratio that measures the company's overall performance. It also show how company performs financially.
Given,
Year 2,
Net Sales = $484,000
Net income after tax = $47,150
Therefore,
Profit Margin = 
Profit Margin = 9.74%
Hence, company is performing financially well.