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mariarad [96]
3 years ago
9

Mobile Sales has five employees which receive weekly paychecks. Each earns $11.50 per hour and each has worked 40 hours in the p

ay period. Each employee pays 12% of gross in Federal Income Tax, 3% in State Income Tax, 6% of gross in Social Security Tax, 1.5 % of gross in Medicare Tax, and 1/2% in State Disability Insurance. None of the employees is subject to a ceiling amount for Social Security. What is the amount of Sales Wages Expense
Business
1 answer:
Oliga [24]3 years ago
3 0

Answer:

$2,300

Explanation:

Sales wages expense = Number of employees * Hourly rate * Number of hours worked = 5 * $11.50 * 40 = $2,300

Note: The calculated $2,300 is the actual Sales Wage Expense. Other rates are just withholding tax that will be deducted before the net pay is paid to the employees.

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Identify a type of market failure. Provide an example of that type of market failure and briefly explain one way that the govern
Rufina [12.5K]

Monopoly power, inefficiency, absent markets, and other factors can all result in market failure. Government is help to reduce the negative effect of that market failure such as implemented taxes and laws. An example of a market failure is music application.

What is market failure?

When we talk about "market failure," we're talking about an economy where there is an inefficient flow of commodities and services on the open market.

Inefficiency, absent markets, insufficient markets, and negative externalities are the main forms of monopoly power. audio player: All listeners hear the song, yet it cannot affect them directly. It is unable to determine whether or not a user has paid.

The government must address market failure issues brought on by additional regulations, taxes, tariffs, subsidies, and trade restrictions.

As a result, monopoly power, inefficiency and missing markets types of market failure. Government implemented taxes and laws. Ex of music app.

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3 0
2 years ago
What are the disadvantages of international trade?
Phoenix [80]

Answer:

It enables a country to obtain goods which it cannot produce or which it is not producing due to higher costs, by importing from other countries at lower costs. (iii) Specially Foreign trade leads to specialisation and encourages production of different goods in different countries.

Explanation:

inorder to minimize the disadvantage , there should be privacy maintainence in the intellectual property, there should be balanced in domestic and international trade. the over use of natural resources should be controlled. there should be proper checking of the good and services before trading them inside country or in foreign country, etc

7 0
3 years ago
The goal of global market segmentation is to break down a new foreign market for a product or a service into different groups of
Lunna [17]

The goal of global market segmentation is to break down a new foreign market for a product or a service into different groups of consumers so the firm can <u>tailor its </u><u>marketing mix </u><u>to each individual segment</u>.

More about marketing mix:

The marketing mix is the collection of activities, or methods, that a business employs to sell its brand or merchandise. A typical marketing mix is comprised of the four Ps: price, product, promotion, and place. Today, however, the marketing mix is progressively including several more Ps as essential mix components, such as Packaging, Positioning, People, and even Politics.

Price mix is the cost incurred by the company to deliver a product to the customer. Product mix exemplifies the nature of the good that the company is selling to the customer. Place mix is the method used to distribute the goods at a time and place that are convenient for the consumer.

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5 0
1 year ago
At a price of $1.00, a local coffee shop is willing to supply 100 cinnamon rolls per day. At a price of $1.20, the coffee shop w
Julli [10]

Answer:

2.2

Explanation:

The formula for calculating price elasticity using the midpoint method is:

midpoint method = {(Q2 - Q1) / [(Q2 + Q1) / 2]} / {(P2 - P1) / [(P2 + P1) / 2]}

midpoint method = {(150 - 100) / [(150 + 100) / 2]} / {(1.20 - 1) / [(1.20 + 1) / 2]}

midpoint method = [50 / (250 / 2)] / [0.20 / (2.20 / 2)] = (50 / 125) / (0.20 / 1.1)  

midpoint method = 0.4 / 0.19 = 2.2

The advantage of using the midpoint method to calculate price elasticity is that we can calculate the price elasticity between two points, and it doesn't matter if the price increases or decreases.

If we calculate price elasticity using the single point formula:

price elasticity = % change in quantity supplied / % change in price = 50% / 20% = 2.5

7 0
3 years ago
The difference between a multinational corporation (MNC) and an international business is that __________.
natta225 [31]

Answer:

1. International Business means that the company has no interest in investing into foreign countries yet is fully turned towards their home country. It's a group of people that work for some non-profit organization and they have no benefit.

2. Multinational Corporation means that the company invests in foreign countries and work for the profit.

8 0
3 years ago
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