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mina [271]
3 years ago
14

David works for a cookie company downtown. He earns $7 per hour. In a typical week, he works 22 hours. His employer provides ove

rtime pay equal to 3 times his normal wage if he works past 40 hours. The company also provides a 8% commission on all cookies sold. How much can David make this week if he works 30 hours and sells $1100 worth of cookies
Business
1 answer:
Mariulka [41]3 years ago
4 0

Answer:

$242

Explanation:

Calculation to determine How much can David make this week

Earnings for David =( 22*$7) + (1100*8%)

Earnings for David=$154*$88

Earnings for David= $242

Therefore How much can David make this week is $242

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A private university offers graduate assistantships to qualified students each year. In exchange for the waiver oftuition, gradu
alina1380 [7]

Answer:

A. tuition revenues of $4,000 and expenditures of $4,000.

Explanation:

If the student is not employed as a graduate assistant required to assist faculty members with research and other activities, we will have one:

a. The student will have to pay $4,000 tuition. This is a revenue to the university.

b. The private university will employ a research assistant and pay him $4,000. This an expenditure to the university.

Therefore, this transactions have to be required as highlighted in a. and b. above to track the actual revenue and expenditure implication of the waiver despite cash does not exchange hands.

7 0
3 years ago
Robo Hot Inc., is a company that markets electric heaters to hospitals. Mr. Heatmizer, it's CEO, would ike to reduce its invento
Kruka [31]

Answer:

Expected number of orders=31.6 orders per year

Explanation:

<em>The expected number of orders would be the Annual demand divided by the economic order quantity(EOQ).</em>

<em>The Economic Order Quantity (EOQ) is the order quantity that minimizes the balance of holding cost and ordering cost. At the EOQ, the holding cost is exactly the same as the ordering cost.</em>

It is calculated as follows:

EOQ = (2× Co D)/Ch)^(1/2)

Co- ordering cost Ch - holding cost, D- annual demand

EOQ = (2× 10 × 100000/2)^(1/2)= 3162.27 units

Number of orders = Annual Demand/EOQ

                              = 100,000/3,162.27= 31.62 orders

Expected number of orders=31.6 orders per year

7 0
2 years ago
Jim has a full-time job and occasionally designs Web sites for individuals and businesses. At the end of the year, Jim files his
andre [41]

A) Yes, because the government requires individuals to report income earned from an employer and other sources.

His side gig was the equivalent of self contracting. He would definitely have to report of he made over $400.
6 0
3 years ago
When going into a partnership, you should always:_________.
Lena [83]

Answer: A. put all terms of the partnership into writing in a partnership agreement.

Explanation:

The most important terms in a partnership agreement is ensuring that all terms are noted down and binded legally, this is to help partners know when need to do something and don't feel cheated or be cheated by someone or something. Avoidance of reaching out to terms noted down will further make things complex either when the business is growing or when there is need to shutdown or during operations.

8 0
3 years ago
Tracy Company, a manufacturer of air conditioners, sold 270 units to Thomas Company on November 17, 2021. The units have a list
tiny-mole [99]

Answer:

See explanation section

Explanation:

Requirement 1

<em>November 17, 2021</em>   Merchandise Inventory     Debit     $81,000 (Note - 1)

Accounts payable - Tracy Company                  Credit    $81,000

Calculation - $270 units × $400 = $108,000

$108,000 × (100 - 25)% = $81,000

<em>To record the purchase of office equipment on account with a trade discount and a credit terms of 3/10, n/30. As the company uses perpetual inventory system, merchandise inventory is debit.</em>

<em>November 26, 2021  </em>Accounts payable - Tracy Company   Debit   $81,000

                                   Cash                                       Credit      $78,570

                                   Merchandise Inventory         Credit      $2,430

As Thomas gave the payment within 10 days, Tracy Company provided a 3% discount according to the terms.

Calculation - $81,000 - ($81,000 × 3)% = $81,000 - 2,430 = $78,570

Requirement 2

If Thomas paid on December 15, 2021, Tracy company would not give any discount. However, Thomas paid within 30 days.

Therefore, the journal entry to record the payment is as follows:

<em>December 15, 2021  </em>Accounts payable - Tracy Company   Debit   $81,000

                                   Cash                                       Credit      $81,000

This time he did not receive the discount as he failed to pay within 10 days to get discount.

7 0
3 years ago
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