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nika2105 [10]
3 years ago
7

Helen Ming receives a travel allowance of $120 each week from her company for time away from home. If this allowance is taxable

and she has a 28 percent income tax rate, what amount will she have to pay in taxes for this employee benefit
Business
1 answer:
Mazyrski [523]3 years ago
8 0

Answer:

$1,747.2

Explanation:

Calculation to determine what amount will she have to pay in taxes for this employee benefit

First step is to determine the Annual travel allowance

Using this formula

Annual travel allowance=Weekly allowance × 52 weeks

Let plug in the formula

Annual travel allowance=$120 × 52 weeks

Annual travel allowance=$6,240

Now let determine the Annual tax

Using this formula

Annual tax=Annual travel allowance × Tax rate

Let plug in the formula

Annual tax=$6,240 × 0.28

Annual tax=$1,747.2

Therefore the amount that she will have to pay in taxes for this employee benefit is $1,747.2

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Answer:

Explanation:

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2.Promotion: Does our customers or potential customers still view our advertisements.

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5 0
3 years ago
Ashland Corporation estimates its manufacturing overhead costs to be $360,000 and its direct labor costs to be $400,000 for 2020
denis23 [38]

Answer:

Allocated MOH= $180,000

Explanation:

Giving the following information:

Manufacturing overhead is applied to jobs based on direct labor costs using a predetermined overhead rate.

The estimated manufacturing overhead costs are $360,000 and direct labor costs $400,000.

First, we need to calculate the MOH rate:

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

Estimated manufacturing overhead rate= 360000/400000= $0.9 per direct labor dollar.

The actual manufacturing labor costs for job 3 are $200,000.

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 0.9*200000= $180,000

7 0
3 years ago
Jolly Giant Burgers purchased a commercial dishwasher by paying cash of $8,000. The dishwasher's fair value on the date of the p
gulaghasi [49]

Answer:

$9,100

Explanation:

Calculation for what amount will Bahama record the dishwasher

Using this formula

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3 years ago
The first step in the market research process is to define the objectives and research needs. what was nike’s primary objective
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3 years ago
Why are pricing decisions important to organization?
gregori [183]

Answer:

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2 years ago
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