Answer:
The combined wage bracket tables in Exhibits 9-3 and 9-4 is missing hence I will use 2014 tax year
answer :
a) Federal income tax withheld
= 75.6 + ( 1989.60 - 944 )*15% = $232.44
b) social security
6% * 1989.6 = $119.38
c) Medicare
1.45% * 1989.6 = $28.85
Explanation:
For a single individual
Two withholding allowance = $329.20 * 2 = $658.40
Gross Pay = $2648
withholding allowance = $658.40
Subject to withholding = $2648 - $658.40 = $1989.60
a) Federal income tax withheld
= 75.6 + ( 1989.60 - 944 )*15% = $232.44
b) social security
6% * 1989.6 = $119.38
c) Medicare
1.45% * 1989.6 = $28.85
Answer:
Land of Milk and Honey
The real GDP in 2014 is:
= b. $40.
Explanation:
a) Data and Calculations:
Milk Honey Total GDP
Cost per gallon in 2014 $2 $1
Quantity produced 10 20
Total production value $20 ($2*10) $20 ($1*20) $40 ($20 + $20)
Cost per gallon in 2015 $2 $1
Quantity produced 12 24
Total production value $24 ($2*12) $24 ($1*24) $48 ($24+ $24)
Cost per gallon in 2016 $2.50 $1.25
Quantity produced 12 24
Total production value $30 ($2.50*12) $30 ($1.25*24) $60 ($30 + $30)
The real GDP in 2014 is the calculated value of $40. Using 2015 as the base year, there is no inflation since the unit prices of milk and honey remained the same in both years.
Answer:
600 loss
Explanation:
The computation of the gain or loss is shown below:
Since on Jan, there is a put option of 45 at $3 and the market rises to $58
So it losses by 13 points i.e
= 45 - 58
= 13
Now the total premium points collected is of 7 i.e
= 4 + 3
= 7
So, the remaining points left is
= 13 - 7
= 6
So for 6 points, the net loss is $600
Answer:
C. $258,000.
Explanation:
The computation of the net income reported is shown below:
= Gambling winnings - Travel costs - Office expenses - Supplies - Business long-distance phone charges
= $275,000 - $8,000 - $5,000 - $3,000 - $1,000
= $258,000
For computing this we ignored the illegal cost related to the illegal parking and the illegal information
Answer:
1. 1.875 hours
2. $20.25
3. $37.97
Explanation:
The computation is shown below:
1. For Standard direct labor hours per oil change, it is
= (Actual time spent on the oil change) + (Setup and downtime + Cleanup and rest periods) × Actual time spent on the oil change
= 1.25 hours + (22% + 28%) × 1.25 hours
= 1.25 hours + 0.625 hours
= 1.875 hours
2. Standard direct labor hourly rate, it is
= (Hourly wage rate) + (Payroll taxes + Fringe Benefits) × hourly wage rate
= $15 + (10% + 25%) × $15
= $15 + $5.25
= $20.25
3. And, the standard direct labor cost per change is
= Standard direct labor hours per oil change × Standard direct labor hourly rate
= 1.875 hours × $20.25
= $37.97
We simply applied the above formulas for each one part
