1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
SIZIF [17.4K]
3 years ago
7

Action Travel has 10 employees each working 40 hours per week and earning $20 an hour. Federal income taxes are withheld at 15%

and state income taxes at 6%. FICA taxes are 7.65% and unemployment taxes are 3.8% of the first $7,000 earned per employee. What is the actual direct deposit of payroll for the first week of January?
a.$5,404.
b.$5,708.
c.$4,792.
d.$8,000.
Business
1 answer:
leonid [27]3 years ago
5 0

Answer:

b.$5,708.

Explanation:

The computation of the actual direct deposit of payroll is shown below:

= Total salary expense - Total salary expense × Federal income tax rate -  Total salary expense × state income tax rate -  Total salary expense × FICA tax rate

= $8,000 - $8,000 × 15% - $8,000 × 6% - $8,000 × 7.65%

= $8,000 - $1,200 - $480 - $612

= $5,708

The total salary expense is computed below:

= 10 employees × 40 hours × $20

= $8,000

You might be interested in
Raul is a saver. He sets aside $200 per month during his career of 40 years to prepare for a comfortable retirement. He does not
monitta

Answer:

$211,971.

Explanation:

he will have earned in $115,971 in interest.

3 0
3 years ago
What is one strategy that can help a person avoid spending too much money
VARVARA [1.3K]

Answer:

Concept: Business

  1. Choosing a credit card with a low minimum monthly payment will lead to less spending
4 0
3 years ago
Read 2 more answers
Diminishing returns to physical capital means that when the amount of human capital per worker and the state of technology are h
-BARSIC- [3]

Answer:

a. a smaller increase in the marginal product of labor. 

Explanation:

The law of diminishing returns to physical capital states that as more and more input are added to fixed factors of production, output increases at a decreasing rate.

For there to be output growth, physical capital should be increased less than human capital and technological progress.

I hope my answer helps you

6 0
3 years ago
If a company's cost of capital increases unexpectedly, which of the following actions will help it maintain or increase its stoc
Kitty [74]

Answer:

III) Increase its gross margin

Explanation:

If the company increases its gross margin, it will have a direct impact on the company's net profit. The higher a company's net profit, the higher its value = higher stock price.

The only option that increases the value of the company is to increase its net profit, since:

  • an increase in inventory will result in a lower stock price
  • a decrease in the asset turnover ratio will result in a lower stock price
  • the issuing of stock dividends will only increase the price of stock in the short run, later the price will adjust down since the company's book value will lower
4 0
3 years ago
What is the meaning of statistics??​
Nookie1986 [14]

Explanation:

1 : a branch of mathematics dealing with the collection, analysis, interpretation, and presentation of masses of numerical data. 2 : a collection of quantitative data.

4 0
3 years ago
Read 2 more answers
Other questions:
  • The purpose of the debt covenant that requires maintaining a minimum level of net working capital is to ________.A) protect the
    10·1 answer
  • A firm is considering a project that will yield $10,000 per year for 10 years. The required return on this project is 12.05%, co
    6·2 answers
  • Michael dell warned companies to be careful about the way they interpret data from the​ ________. the sales numbers might reflec
    14·1 answer
  • Alex Guadet of Nashville, Tennessee, has been renting a two-bedroom house for several years. He pays $900 per month in rent for
    6·1 answer
  • Jack earns $90,000 while Priscilla earns $130,000. A regressive social security tax of 5%, paid only up to $90,000, would mean t
    13·1 answer
  • There are a number of specific steps in the appraisal process. What is the final step?
    6·1 answer
  • A company decides to let go of some employees due to a financial crisis. Jane loses her job, while her colleagues with similar p
    6·1 answer
  • At contract maturity the value of a call option is ___________, where X equals the option's strike price and ST is the stock pri
    6·1 answer
  • Ginny is considering an investment costing $55,000 that has cash flows of $35,000 in Year 2, $36,000 in Year 3, and −$5,000 in Y
    5·1 answer
  • What type of Businesses has limited liability ?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!