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mario62 [17]
2 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]2 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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Answer:

The answer is below

Explanation:

A What is the probability that all 4 selected workers will be the day shift?

B What is the probability that all 4 selected workers will be the same shift?

C What is the probability that at least two different shifts will be represented among the selected workers.

A)

The total number of workers = 10 + 8 + 6 = 24

The probability that all 4 selected workers will be the day shift is given as:

P_a=\frac{C(10,4)}{C(24,4)}= \frac{210}{10626}=0.0198

C(n,r)=\frac{n!}{(n-r)!r!}

B) The probability that all 4 selected workers will be the same shift (P_B) = probability that all 4 selected workers will be the day shift + probability that all 4 selected workers will be the swing shift + probability that all 4 selected workers will be the graveyard shift.

Hence:

P_B=\frac{C(10,4)}{C(24,4)}+\frac{C(8,4)}{C(24,4)}+\frac{C(6,4)}{C(24,4)}=0.0198+0.0066+0.0014=0.0278

C) The probability that at least two different shifts will be represented among the selected workers (P_C)= 1 - the probability that all 4 selected workers will be the same shift(P_B)

P_C=1-P_B\\\\P_C=1-0.0278\\\\P_C=0.972

7 0
2 years ago
An insurance company has offered your friend the choice of $45,000 per year for 15 years, with the first payment being made toda
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Answer:

$427,011.92

Explanation:

We use the present value formula i.e to be shown in the attached spreadsheet

Given that,  

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The formula is shown below:

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8 0
3 years ago
Thomas Consultants provided Bran Construction with assistance in implementing various cost-savings initiatives. Thomas’s contrac
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Answer:

1. $54,000

2. $50,000

3. $50,000

Explanation:

1. The computation of transaction price if the expected value is used is shown below:

= Flat fee + (Cost savings × given percentage)

= $50,000 + ($20,000 × 20%)

= $50,000 + $4,000

= $54,000

2. The computation of transaction price if the estimate of variable consideration is used. So, only a flat fee should be considered and the cost saving is ignored. Hence, the amount is $50,000

3. The computation of transaction price if the estimate of variable consideration is used. So, only a flat fee should be considered and the cost saving is ignored. Hence, the amount is $50,000 as there is very uncertainty due to lack of experience

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3 years ago
A company that loans money to an organization is a(n):______.a. supplier.b. lender.c. shareholder.d. investor.
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Answer:

lender.

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A lender is an individual or company that makes funds available another com[any. Lenders receive fixed payments based on a predetermined rate at an agreed time.

A shareholder is the owner of a company. A shareholder is a person who buys the stock of a publicly traded company

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The correct option is (d).

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