Your store has an average time of 90 seconds toprocess a sales transaction. There are three customers in line to check

Selected data from a February payroll register for Coronado Company are presented below. Some amounts are intentionally omitted.

dlinn [17]

Answer:

1. Overtime= $1,000

2. Gross Pay= $10,000

3. State Income Taxes = $400

4. Total Deductions= $2,483

5/ Salaries and wages expenses = $10,000 (Gross Pay)

Explanation:

The question says to find the following:

1. Overtime

2. Total

3. State Income Taxes

4. Total Deductions

5. Salaries and Wages Expense

1. Overtime

Overtime is derived after calculating the total Gross Pay (2nd question)

Total Gross Pay= Regular + Overtime

$10,000= $9,000 + Overtime

Therefore, Overtime = $10,000-$9,000

Overtime= $1,000

2. Total Gross Pay (this should be treated before the 1st which is overtime)

= Gross Pay =

= calculated as FICA tax expense /the percentage of FICA taxes

FICA tax expense = $765

% of FICA taxes = 7.65

Gross Pay= $765 / 7.65% (0.0765)

= $10,000

3. State Income Tax

The state Income Taxes is derived as follows

Gross Pay x the given percentage (4%)

State Income taxes = $10,000 x 0.04

State Income taxes = $400

4. Calculate the total deductions

Total Deductions are the sum of the following

FICA taxes + federal Income taxes + State Income taxes + Union dues

= $765+ $1,128+$400+$190

= $2,483

5. Salaries and Wages Expense

The answer to this is simply the derived total gross pay (regular + overtime) Calculated in step 2

Gross pay= salaries and wages expense= $10,000

4 0

3 years ago

How do birthrates and death rates change as a country moves from a least developed or traditional economy to developing-nation s

oksian1 [2.3K]

As a country makes the transition from a least developed economy to developing nation status the Birthrates and Death Rates will increase. Birthrates will increase due to immigration. The healthcare services generally improves when a country develops more and becomes more industrialized. It helps improve the economy which in turn gives more people the opportunity to have more children and to lead healthier lives. So the birth rates go up. Death rates will go up too due to an increase in criminal activity.

7 0

3 years ago

Comfort chair company manufacturers a standard recliner. During February, the firm's Assembly Department started production of 7

guapka [62]

Answer:

1. a. 81,500

2. $38,481

3. $461,382

Explanation:

The equivalent units for conversion costs during February.

Conversion Costs = 15,700 x 65% + 62,900 x 100% + 10,100 x 85 %

= 81,690 units

Material Costs = 15,700 x 0% + 62,900 x 100% + 10,100 x 100 %

= 73,000 units

The amount of direct materials cost assigned to ending work-in-process inventory at the end of February.

Step 1 : Determine Cost per Equivalent unit

Conversion Costs = $168,000 ÷ 81,690 units = $2.06

Material Costs = $278,000 ÷ 73,000 units = $3.81

Total Cost = $2.06 + $3.81 = $5.87

Step 2 : Direct Material Cost assigned to ending work-in-process

Ending work-in-process (Material Cost) = 10,100 x $3.81

= $38,481

The cost of the goods transferred out during February.

Cost of the goods transferred out = $5.87 x 78,600

= $461,382

8 0

3 years ago

Easy Car Corp. is a grocery store located in the Southwest. It expects to pay an annual dividend of $6.30 next year to its share

emmainna [20.7K]

Answer:

Missing question "1. What is the cost of debt for Easy Corp? 2. How many interest payments are left for the bond of Easy Corp? 3. What is the interest payment per period for the bond? 4. What is the discount rate per period to use in pricing the bonds? 5. What is the market value of equity for Easy? 6. What is the cost of equity for Easy?"

1. Cost of debt is equal to YTM, which is equal to 10%

Cost of debt = YTM = 10%

2. Number of interest payment to be made is equal to 26 * 2 = 52

This is because payment is made semi annually

3. Interest payment per period = 8.9141% / 2 * $1,000

Interest payment per period = 4.45705% * $1,000

Interest payment per period = $44.57

4. As the period is semiannual, discount rate per period is equal to 10% / 2 = 5%

5. Market value of equity = 600,000*60 = $36,000,000

6. Cost of equity = Dividend price + Growth rate

Cost of equity = 6.3/60 + 0.05

Cost of equity = 0.105 + 0.05

Cost of equity = 0.155

Cost of equity = 15.5%

7 0

3 years ago

Blaser Corporation had $1,075,000 in invested assets, sales of $1,243,000, income from operations amounting to $216,000 and a de

lawyer [7]

Answer:

Rate of return is 20%

Explanation:

Rate of return is the actual return received on a investment. In this question Blaser Corporation invested $1,075,000 in asset and earned a income of $216,000. So the rate of return is as follow

Rate of return = Income received / Investment in Assets = $216,000 / $1,075,000 = 0.200 = 20%

6 0

3 years ago

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