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Vinil7 [7]
2 years ago
14

Jillian has just started her first job with a $45,000 salary at a company with a 401(k) plan that has a 100% match up to 3% gros

s salary. She figures she can afford to save $3,000/yr out of her income for her retirement. What should Jillian ideally do?
a. Contribute 1650 in a Roth IRA, and 1350 In her company’s 401(k) plan
b. Contribute 3,000 in her company’s 401 (k) plan
c. Contribute 2,00 in a Roth IRA
d. Contribute 1350 in a Roth IRA, and 1650 In her company’s 401(k) plan
Business
1 answer:
gogolik [260]2 years ago
4 0

Answer:

Jillian

What Jillian should ideally do is:

a. Contribute 1650 in a Roth IRA, and 1350 In her company’s 401(k) plan.

Explanation:

a) Data and Calculations:

Salary = $45,000

401(k) = 3% of $45,000 = $1,350

Employer's match to the 401(k) = $1,350 (100%)

Savings affordable = $3,000

b) Jillian can contribute to Roth IRA and her company 401(k) which her company will also match 100%.  Her contributions to both funds are within the allowed limits.  In 2020, the allowed limit of 401(k) plan is $19,500 while that of Roth IRA is $6,000.

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Answer:

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Explanation:

<em>We multiply the direct labor hours per unit to the number of units to get the total direct labor hours  which are again multiplied with the direct labor cost per hour to get the total direct labor costs.</em>

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Direct Labor Budget

                                           Quarter II

Production units                2750

<u>Direct Labor per unit            3        </u>

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Direct Labor Costs           $ 57750

We multiply the direct labor costs  with variable overhead per hour to get the variable costs which are added to the fixed costs per quarter to get the total factory overhead budget.

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Factory Overhead  Budget

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Direct Labor Hours           8250

<u>Variable OH / Hr                 $ 9         </u>

Variable Overheads        $ 74250

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5 0
3 years ago
When managers at non-union property establish fair company policies and follow the policies consistently, employees typically fe
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Explanation: Union protection are requested by employees in organisations the management policies are not ,fair and consistent for better relationship with workers, companies must adopt fair and consistent company policies. When employees get adequate compensation and fair welfare  and compensation system generally feel and believe their job is secured.

Employees only need union protection when the policies of the management is not fair and consistent.

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You are considering an investment in a mutual fund with a 4% load and an expense ratio of 0.5%. You can invest instead in a bank
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Answer:

a. r > 8.69%

b. r > 7.225

Explanation:

Missing question <em>"b. hat annual rate of return must the fund portfolio earn if you plan to invest for 6 years to be better off in the fund than in the CD?"</em>

<em />

Mutual fund wealth index after N years = (1 - front load)*(1+r-expenses)^N

CD wealth index after N years = (1+rate)^N

a. Investment for 2 years

(1 - front load)*(1+r-expenses)^N = (1+rate)^N

(1 - 0.04)*(1+r-0.005)^2 = (1+0.06)^2

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(1+r-0.005) = 1.47762408^(1/6)

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