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Fantom [35]
2 years ago
8

Since the FICA tax is split equally between employers and employees, we can conclude that the incidence of this tax is also equa

lly shared. a. True b. False
Business
1 answer:
shepuryov [24]2 years ago
4 0

Answer:

Since the FICA tax is split equally between employers and employees, we can conclude that the incidence of this tax is also equally shared.

a. True

Explanation:

The incidence of the FICA tax refers to the extent to which an individual employee or the employing organization suffers from the imposition of the FICA tax.  In the final analysis, the incidence may not be borne by the organization but consumers of its goods and services, depending on the elasticity of demand.  Employers and employees usually split the FICA tax equally.  The FICA (Federal Insurance Contribution Act) refers to the federally mandated tax for Social Security and Medicare.

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Childress Company produces three products, K1, S5, and G9. Each product uses the same type of direct material. K1 uses 3.7 pound
Naily [24]

Answer:

                                                      K1               S5                  G9

                                                       $                    $                 $

Contribution per pound           17.51           5.11      17.99

Explanation:

Contribution is he excess of selling price over variable cost. The following relationships would help in solving the question:

The contribution per Selling price - variable cost

The contribution per pound of a material = Contribution per unit/ Material per unit

                                                      K1               S5                  G9

                                                       $                    $                 $

Selling price                           155.8               108.92          202.55

Variable cost                             <u>(91.00)          ( 90.00)         (136.00)</u>

Contribution per unit                 64.8       18.92          66.55

Material per unit                            3.7             3.4               6.1

Contribution per pound           17.51           5.11      17.99

6 0
3 years ago
The measure of the total annual income received by residents of a nation is called _____.
myrzilka [38]

Answer: Gross National Income

Explanation:In a bid to measure and track the wealth of a nation, various economic terms are employed in keeping track of income generated by a nation from time to time usually on an annual basis. The Gross Domestic Product defines the value of all goods and services produced in a nation within a year. Hence, Gross Domestic Product(GDP) is concerned goods and services of domestic nature. The Gross National product(GNI) encompasses a nation's GDP and foreign revenue earned by nationals of a country.

8 0
3 years ago
Read 2 more answers
Audrey works in the accounting department of Colorado Manufacturing. Today she will use the firm's ledger to summarize informati
Doss [256]

Answer:

trial balance

Explanation:

Based on the information provided within the question it can be said that in this scenario Audrey will prepare a trial balance. This refers to an extensive list detailing all the general ledger accounts that can be found within the ledger of a business, each of which will reveal the name and balance of that account. This is what Audrey is preparing and is one of the main tasks completed by accounting departments.

3 0
3 years ago
A study of interior designers' opinions with respect to the most desirable primary color for executive offices showed that:
weqwewe [10]
It showed that most people prefer red color in their executive offices.
Red is a primary color which most people associate with good feelings, so it's no wonder these interior designers believe it will benefit the workers in their workplace.
6 0
3 years ago
When Heavenly Cookies prices its sugar cookies at $1.00, they sell 75 cookies. They lowered the price to $0.50 and sold 200 cook
Serga [27]

Answer: Total Revenue is $100 and the price elasticity is 0.4

Explanation: total revenue is computed as Price * Quantity

$0.5 * 200= $100

Elasticity is the degree of responsiveness of quantity demanded to a change in price.

Old price $1

New price $0.5

Old quantity 75

New quantity 200

Formula- % change in quantity demanded / % change in pride

NB change is (old-new)

Change in Qd= (75-200) / 75 =-1.67

Change in price=(1-0.5)/1=0.5

-1.67/0.5= -3.34

The negative is ignored in price elasticity and the answer is 3.34 which means the product is Elastic

4 0
2 years ago
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