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qaws [65]
3 years ago
7

Rhonda Brennan found her first job after graduating from college through the classifieds of the Miami Herald. She was delighted

when the offer came through at $14.30 per hour. She completed her W-4 stating that she is married with a child and claims an allowance of 3. Her company will pay her biweekly for 80 hours (assume a tax rate of 6.2% on $128,400 for Social Security and 1.45% for Medicare).
Calculate her take-home pay for her first check. Assume 6.2% on SS and 1.45% on Medicare.
Business
1 answer:
kozerog [31]3 years ago
7 0

Answer:

Answer is explained in the explanation below.

Explanation:

Solution:

According to the data given: This can be solved as following. (Note: we are not given income tax tables to calculate the accurate net pay. So, according to given information here. Following is the accurate one. )

Let's assume, a 6.2% tax rate for SS ( Social Security) and 1.45% tax rate on Medicare:

So,

Social Security = 6.2%

Medicare = 1.45%

Pay Per hour = $14.30

So, let's calculate Rhonda's Gross pay:

Gross Pay = Pay per hour x total number of hours

Gross pay = $14.30 x 80 hours

Gross Pay = $1,144

Now, calculate the Rhonda's Reduction for Social Security:

Rhonda's Reduction for Social Security = $1,144 x 6.2%

Rhonda's Reduction for Social Security = $70.928

Similarly, Rhonda' Reduction for Medicare:

Rhonda' Reduction for Medicare = $1,144 x 1.45%

Rhonda' Reduction for Medicare = $16.588

So Finally,

Rhonda's Take-home Pay for her first check will be = Gross pay - Rhonda's Reduction for Social Security - Rhonda' Reduction for Medicare

Rhonda's Take-home Pay for her first check will be = $1,144 - $70.928 - $16.588

Rhonda's Take-home Pay for her first check will be = $1,056.484

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Answer and Explanation:

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3 years ago
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3 years ago
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Answer and Explanation:

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For recording this we debited the cash as it increased the assets and credited the service revenue as it increased the revenue

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For recording this we debited the rent expense as it increased the expenses and credited the cash as it reduced the assets

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(Being the office supplies purchased on account)

For recording this we debited the office supplies as it increased the assets and credited the account payable as it increased the liabilities

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(Being the salaries paid is recorded)

For recording this we debited the salaries expense as it increased the expenses and credited the cash as it reduced the assets

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3 years ago
Schwering Corporation uses activity-based costing to assign overhead costs to products. Overhead costs have already been allocat
Vesnalui [34]

Answer:

Instructions are below.

Explanation:

<u>1)</u>

Order Filling, $136,040

Orders (Order Filling)

Product D7 3,040

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<u>To calculate the predetermined overhead rate, we need to use the following formula:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Order Filling= 136,040/3,800

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<u>2)</u>

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<u>First, we need to calculate the activity rate for each activity:</u>

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<u>Now, we can allocate overhead to product U1:</u>

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<u>3)</u>

Wall Mirrors Specialty Windows

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<u>Now, we allocate overhead:</u>

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Accordingly high taxes as a penalty for such social destruction shall be charged.

4 0
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