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alexdok [17]
3 years ago
5

Sandra wilson is paid one and one-half times the regular hourly rate for all hours worked in excess of 40 hours per week and dou

ble time for work on sunday. wilson's regular rate is $12 per hour. during the week ended july 3, she worked 9 hours each day from monday through friday, 6 hours on saturday, and 4 hours on sunday. wilson's overtime earnings for the week ended july 3 are
Business
1 answer:
Inessa05 [86]3 years ago
4 0

To calculate Sandra's overtime earnings, you will need to find how many overtime hours Sandra worked and then calculate the amount per hour she will make for the hours over 40 she worked through Saturday.


You will calculate her earnings per hour on Sunday by doubling her per hour rate and then multiplying by the number of hours worked on Sunday.


1. M - F (9 x 5 = 45 hours), so 5 hours overtime and Saturday - is 6 hours (6 + 5 = 11 hours overtime through Sat).


2. $12 x 1.5 = $18 per hour overtime rate; 18 x 11 = $198 through Sat.


3. Sunday: $12 x 2 = $24 per hour; $24 x 4 = $96 on Sun.


4. $198 + $96 = $294


Sandra earned $294 in overtime.

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bob katz and sally mander are a married couple with four children. total wages for 2018 equaled $102,400. stock which had been p
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Answer:

Bob Katz and Sally Mander

Taxable Income for 2018:

= $78,200

Explanation:

a) Data and Calculations:

Total wages =                  $102,400

Gain from sale of stock =     5,200

Interest income =                      100

Total income =                 $107,700

less total deductions =     (29,500)

Taxable Income =            $78,200

b) Bob Katz and Sally Mander will have taxable income of $78,200 when the appropriate rate of tax is applied and the tax liability obtained, then the $1,500 tax credit will be deducted before arriving at the tax liability due.  

c) The short-term capital gain of $5,200 is taxed as ordinary income.  Since it is held for less than a year, it will be included in the taxable income for that year and it follows the same tax brackets as ordinary income.  On the other hand, the long-term capital gain of  $13,000 will attract a tax rate of 0 percent for a taxable income of $78,200.  Otherwise, it will attract a tax rate of 15 percent or 20 percent, depending on income level. This means that long-term capital gains tax rates are much lower than the ordinary income tax rate.

8 0
3 years ago
On december 31, 2014, extreme fitness has adjusted balances of $940,000 in accounts receivable and $83,000 in allowance for doub
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To record the write-off of receivables:

Allowance for doubtful accounts ----------------------------$24,000
            Accounts Receivable -----------------------------------------------$24,000

To record the accounts receivable collected from the written-off receivable, first restore the accounts receivable with the following entry:

Accounts Receivable ------------------------------------------$1,900
           Allowance for doubtful accounts ------------------------------$1,900

To record the collection of accounts receivable:

Cash -----------------------------------------------------------------$1,900
           Accounts Receivable ----------------------------------------------$1,900

Or, the direct journal entry to record the collection of previously written-off accounts receivable is: 

Cash ---------------------------------------------------------------$1,900
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8 0
3 years ago
What is protectionism and why would a country base trade policy on it? Explain at least two reasons.
Anton [14]
Protectionism is a government or economic policy that does not allow foreign or international trade through methods and variety of government regulations outlined to promote fair competition with the goods and services made domestically. Business and workers were protected within a country through regulating or obstructing trade with different countries.

<span>A country should base trade policy for two reasons. 1.) It protects local businesses and jobs.  2.) It promotes fair competition on the local goods and services.</span>


3 0
3 years ago
Assume University Athletic Pharoah Club sells T-shirts for $30 and anticipates selling 6,700 shirts during football season. The
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The preparation of the University Athletic Pharaoh Club's Income Statement in the contribution margin format is as follows:

University Athletic Pharaoh Club

<h3>Income Statement</h3>

For the football season

Sales Revenue                $201,000

Variable cost of sales        155,574

Contribution margin       $45,426

Fixed Costs:

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Net Income                       $11,900

<h3>Data and Calculations:</h3>

Sales revenue = $201,000 ($30 x 6,700)

Cost of sales = $155,574 ($23.22 x 6,700)

Fixed Costs = $35,000

Sales commission = $1,474 ($0.22 x 6,700)

Remaining fixed costs = $33,526

Thus, the income statement of University Athletic Pharaoh Club for the football season shows a net income of $11,900.

Learn more about Contribution-Margin Income Statement at brainly.com/question/24962994

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3 0
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Statutory employees :a. Include common law employees.b. Report their expenses as miscellaneous itemized deductions.c. Claim thei
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Answer:

c Claim their expenses as deductions for AGI.

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