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zavuch27 [327]
2 years ago
5

Rachel receives employer-provided health insurance. The employer's cost of the health insurance is $5,600 annually. What is her

employer's after-tax cost of providing the health insurance, assuming that the employer's marginal tax rate is 21 percent and the employer is profitable?
Business
1 answer:
kati45 [8]2 years ago
8 0

Answer:

$4,424

Explanation:

Calculation for her employer's after-tax cost of providing the health insurance

Using this formula

After-tax cost =Annually employer's cost of health insurance -(=Annually employer's cost of health insurance*Marginal tax rate)

Let plug in the formula

After-tax cost =$5,600- ($5,600 × 21%)

After-tax cost =$5,600- $1,176

After-tax cost =$4,424

Therefore her employer's after-tax cost of providing the health insurance is $4,424

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The reporting of net cash provided or used by operating activities that lists the major items of operating cash receipts, such a
Olenka [21]

Answer:

a.

Explanation:

‘Cash Flow Statement’ is one of major financial statement that indicates the inflow and outflow of cash along with the reasons by categorizing each cash transaction in three activities i.e., operating, investing or financing activity. Non-cash transactions are not considered while preparing a cash flow statement.  

Operating Activities records the cash transactions involved in the operations of the business are recorded under ‘operating activities’ in the cash flow statement.  

Examples: Revenue earned, expenses incurred etc.  

There are two methods to prepare the cash flow statement. The only difference between both the methods is the way of presenting cash flow from operating activities.  

The two methods of presenting cash flow statement are:  

  1. Direct method: Operating activities section under direct method reports the amount of cash received and paid by the company during the period.  
  2. Indirect method: Operating activities section under indirect method reports the net income and later adjusts the transactions to convert it to cash basis of accounting.  

3 0
3 years ago
Required information
Triss [41]

Answer:

1. Ending inventory = $3519

2. Cost of Goods Sold = $21030

3. Sales Revenue = $27279

4. Gross Profit = $6249

Explanation:

FIFO method of inventory valuation is whereby the stock that first comes into the business, leaves first. This is common in perishable inventory such as vegetables or fruits.

Jan 1. Beginning inventory: 53 units x $45 = $2385

Total

53 units x $45 = $2385

Apr 7. Purchase 133 units x $47 = $6251

Total

53 units x $45 = $2385

133 units x $47 = $6251

Jul 16. Purchase 203 units x $50 = $10150

Total

53 units x $45 = $2385

133 units x $47 = $6251

203 units x $50 = $10150

Oct 6. Purchase 113 units x $51 = $5763

53 units x $45 = $2385

133 units x $47 = $6251

203 units x $50 = $10150

113 units x $51 = $5763

1. Ending inventory = 502 - 433 = 69 hence,

69 units x $51 = $3519

2. Cost of Goods Sold =

[$2385 + $6251 + $10150 + (44 units x $51)] = $21030

OR $24549 - 3519 = $21030

3. Sales Revenue =

433 units x $63 = $27279

4. Gross Profit = Sales Revenue - Cost of Goods Sold hence,

$27279 - 21030 = $6249

4 0
3 years ago
Data concerning a recent period’s activity in the Prep Department, the first processing department in a company that uses proces
Bogdan [553]

Answer:

(1) $31,538.4; $5,328.9; $36,867.3

(2)  $326,206; $120,903; $447,109

Explanation:

(1) Cost of ending work in process inventory:

For materials:

= Equivalent units of production in ending work in process × Cost per equivalent unit

= 2,040 × $ 15.46

= $31,538.4

For conversion:

= Equivalent units of production in ending work in process × Cost per equivalent unit

= 930 × $5.73

= $5,328.9

Total = $31,538.4 + $5,328.9

        = $36,867.3

(2) Cost of the units completed and transferred out:

For materials:

= Total units completed and transferred × Cost per equivalent unit

= 21,100 × $ 15.46

= $326,206

For conversion:

= Total units completed and transferred × Cost per equivalent unit

= 21,100 × $5.73

= $120,903

Total = $326,206 + $120,903

        = $447,109

6 0
3 years ago
What is the new fourth sector of the economy
Naddik [55]

information technology

5 0
3 years ago
Contributions of assets always have restrictions attached as to their use. 41. During the annual fund-raising drive, the Cancer
Serhud [2]

Answer:

b) $870,000.

Explanation:

Step 1. Given information.

  • the Cancer Society raised $900,000 in pledges of financial support for general operations
  • Collected 600.000
  • The society estimates that 10% of the remaining pledges will be uncollectible

Step 2. Formulas needed to solve the exercise.

Net amount revenue = Mount raised - (remaining pledges * estimation of uncollectibles revenues)

Step 3. Calculation.

$900.000 - $300.000 * 10% = 870.000

Step 4. Solution.

The NET amount of revenue the society should recognize during the current year from this pledge drive is  870.000

7 0
3 years ago
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