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mario62 [17]
3 years ago
8

In April of the current year, Freeman Steel Company transferred Herb Porter from its factory in Nebraska to its plant in Michiga

n. The company's SUTA tax rates based on its experience ratings are 3.2% in Nebraska and 3.8% in Michigan. Both states base the tax on the first S9,000 of each employee's earnings. This year, Freeman Steel Company paid Herb Porter wages of $20,900: $2,800 were paid in Nebraska and the remainder in Michigan. Compute the following:
Round your answers to the nearest cent
a. Amount of SUTA tax the company must pay to Nebraska on Porter's wages _______
b. Amount of sUTA tax the company must pay to Michiganion Porter's wages _______
c. Amount of the net FUTA tax on Porters wages ___________.
Business
1 answer:
lilavasa [31]3 years ago
3 0

Answer:

A. $96

B. $228

C. $42

Explanation:

A. Calculation to determine the Amount of SUTA tax the company must pay to Nebraska on Porter's wages

SUTA tax =$3,000 x 3.2%

SUTA tax = $96

Therefore the Amount of SUTA tax the company must pay to Nebraska on Porter's wages is $96

B. Calculation to determine the Amount of sUTA tax the company must pay to Michiganion Porter's wages

SUTA tax =($9,000 - $3,000 )x3.8%

SUTA tax =$6,000 x 3.8%

SUTA tax = $228

Therefore the Amount of SUTA tax the company must pay to Nebraska on Porter's wages is $228

C. Calculation to determine the Amount of the net FUTA tax on Porters wages

Net FUTA tax=$7,000 limit) x 0.6%

Net FUTA tax = $42

Therefore the Amount of SUTA tax the company must pay to Nebraska on Porter's wages is $42

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Each individual must make choices because A. wants are sometimes mixed up with needs. B. resources are limited and therefore can
77julia77 [94]

Answer:

The correct answer is letter "B": resources are limited and therefore cannot satisfy​ one's many competing wants.

Explanation:

Scarcity is the main problem in economic by which people have unlimited needs but finite resources to satisfy them. As a result, individuals must make tradeoffs to sacrifice part of the satisfaction of a need, to satisfy part of another need. Scarcity pushes people to make rational decisions to maximize their returns.

7 0
4 years ago
Universal Containers has two sales groups. Each group has its own unique sales process. What is the best way to ensure that sale
Gre4nikov [31]

Answer:

The use of a proper CRM.

Explanation:

A CRM basically means or translate to a Customer Management System.

A customer management system is an Information technology tool or software that enables companies to properly manage track and monitor their interactions and relationship with clients or potential customers.

Referring back to the question asked, the best answer to the question is to categories or segment the customer management system into teams and generate a unique assess code such that only the team working on a particular potential customer can access and monitor the status of interaction between a sales person and a customer within the same sales team.

This way, a third party sales team does not have access to the data of other sales team.

8 0
3 years ago
Lee is considering buying one of two newly-issued bonds. Bond A is a twenty-year, 7.5% coupon bond that is non-callable. Bond B
vova2212 [387]

Answer:

Multiple choices below are missing:

A) purchase Bond A

B) purchase Bond B

C) purchase neither A nor B at this time

D) negotiate a higher rate on Bond A

The correct option is A,purchase bond A.

Explanation:

By purchasing Bond A,Lee is assured interest payment of 7.5% for a period of twenty years,hence the issuer cannot call the bond if interest rate drops by 2% in order to issue a lower interest-bearing bond which would be cheaper cost-wise.

However, if Lee purchases Bond B with current coupon of 8.25%,the interest is only guaranteed for a period of two years,since the issuer has the prerogative of calling back the bond after two years should interest fall in order to issue another bond that commands lower interest rate.

6 0
3 years ago
Bill, age 65 has 2020 unreimbursed medical expenses totalling $20,000 and an adjusted gross income of $170,000. How much of thos
svp [43]

Answer:

$7,250

Explanation:

You can deduct medical expenses <u>that exceed</u> 7.5% of your AGI (changes, but is currently at this level).

170,000 x .075 = 12,750

20,000 - 12,750 = $7,250

I hope this helps!

-TheBusinessMan

7 0
3 years ago
. Underwater Experimental is considering a project which requires the purchase of $498,000 of fixed assets. The net present valu
GarryVolchara [31]

Answer:

$13.25

Explanation:

The computation of the new book value per share is as follows

current market price per share is

= market value ÷  number of shares outstanding

= $936,000 ÷ 60,000

= 15.6

Now

number of shares to be issued is

= cost of the machine ÷current market price per share

= $498,000 ÷ $15.60

= 31923.07692

Now

The new book value per share is

= (current book value + amount raised from the issuance of shares ) ÷ ( current number of shares + number of shares issued for machinery purchase

= ($720,000 + $498,000 ) ÷ ( 60,000 + 31923.08 )

= $13.25

3 0
3 years ago
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