Answer:
Gross pay for the week is $1,500
Net pay for the week is $1,043
Explanation:
The gross pay is computed thus:
Normal rate pay 40 hrs*$24 =$960
Above normal pay(55-40)*$24*1.5 =$540
Gross pay $1,500
Deductions:
Social security(6.0%*$1,500) ($90)
Medicare(1.5%*$1,500) ($22.5)
Federal income tax ($345)
Net pay for the week $1,043
The net pay for the week is gross pay less social security tax,medicare as well as the federal income tax,$1043 is the employee net pay for the week
Complete Question:
1. Select the correct statement regarding relevant costs and revenues.
A. Sunk costs are not relevant for decision-making purposes.
B. Relevant costs are frequently called unavoidable costs.
C. Direct labor is an example of a unit-level cost.
D. Only variable costs are relevant for decision making.
Answer:
1. A
2. D
3. B
Explanation:
1. The correct statement regarding relevant costs and revenues is that sunk costs are not relevant for decision-making purposes. Sunk costs are the opposite of relevant costs because they can't be changed or recovered, as they've been spent or contracted in the past already. Hence, relevant cost are relevant for decision-making purposes but not sunk costs.
2. Expected future revenues that differ among the alternatives under consideration are often referred to as differential revenues. It is the difference in revenues among two (2) alternatives, which would influence decision making.
3. The benefits sacrificed when one alternative is chosen over another are referred to as opportunity costs. It is also referred to as alternative forgone.
<em>For example, Tony gives up going to see a new movie at the cinema in order to prepare for an examination, so as to get a good grade</em>.
The solution is to open joint bank account. Joint account will allow you to deposit or withdraw cash from your dual income without any fear that one account will get lost. This will help you manage your money and also share it to one of your family members. Your income is safe with you having a joint account because you can monitor it in one transaction only.
The annual percentage rate is 11.19%.
Annual percentage rate is the yearly interest generated on the loan granted to borrowers or paid to investors.
.
- The formulae for APR is (Maturity Value / Net Proceed - 1) * (365 / Period of Note).,
<u>Given data</u>
Net Proceed = $63,159.72
Maturity Value = $68,000
Period of Note = 250 days
APR = ($68,000 / $63,159.72 - 1) * (365 / 250)
APR = 0.076636 * 1.46
APR = 0.1119
APR = 11.19%
Therefore, the annual percentage rate is 11.19%.
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