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]
2 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]2 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
If reputable companies such as IBM and Apple have been charged with using bribes to obtain sales, why should you worry about bei
saul85 [17]

Answer:

1. Reputation.

Apple and IBM are big companies which is why their reputation was able to survive the bribery charges. You are most likely not as big as either of these companies so if you are charged with bribery, your reputation might not be able to recover like theirs did.

It is always best to be associated with a good reputation. A good reputation gives you customers who will be loyal because they appreciate the integrity you have. You should not throw this away by bribing people.

2. Consequences.

It is because Apple and IBM are so big that they were able to settle the bribery charge with the Courts. Smaller companies or people that have lesser effects on the financial system might find that their punishments will be more severe to act as a deterrent.

5 0
2 years ago
Keith and Dena Diem have personal property coverage with a​ $250 limit on​ currency, a​ $1,000 limit on​ jewelry, and a​ $2,500
netineya [11]

Answer:

Total Claim = $2416

Explanation:

The coverage on the currency = $250

The coverage on the jewelry = $1000

The limit on the gold, pewter, and silver = $2500

The amount that is stolen:

The amount of cash = $270

The worth of jewelry = $1734

Pewterware = $1666

The miximum coverage = 250 + 1000 + 2500 = $3750

Actual loss = 270 + 1734 + 1666 = $3670

Reimbursement amount = 250 + 1000 + 1666 = $2916

Total Claim = Total Amount Covered – Deductible  

Total Claim = $2916 - $500 = $2416

4 0
3 years ago
Assume that the interest rate on borrowings in india is 1 percent while the interest rate on bank deposits in a u.s. bank is 6 p
BARSIC [14]
Those who try to benefit from a carry trade are hoping to borrow money at a low interest rate so that they can invest in something that will provide a higher return. People commonly do this between different foreign exchange markets to make the most on their return from investing in different country currencies. 
3 0
3 years ago
What do you think would happen to the expected return on stocks if investors perceived an increase in the volatility of stocks?
olya-2409 [2.1K]

Answer:

Higher is the correct answer.

Explanation:

4 0
3 years ago
Bob is a summer intern in an office. His boss asks him to organize a storage room filled with old contracts that must be held fo
Nutka1998 [239]

Answer:

The correct answer is (d) email.

Explanation:

Email is a form of written communication between people through digital tools. Also called email or e-mail (for its meaning in English electronic mail), it is one of the most popular means of digital communication and can be used by anyone who has access to the internet.

In this case, Bob must use a means of communication that ensures that he will not interrupt his boss's meeting. In addition, it is practical because an immediate response can be given without having to pass authority filters.

4 0
3 years ago
Other questions:
  • Swifty Corporation reported the following year-end information: Beginning work in process inventory $1080000 Beginning raw mater
    5·1 answer
  • If a city is considering building a new city office complex, it may appoint a(n) to research possible locations for the offices
    10·1 answer
  • Prepare for the DMV drive test by ensuring your_____ is in good operating condition.
    11·1 answer
  • An advantage of using one diagnostic manual is that _____
    12·1 answer
  • A firm that would like to develop a global supply chain would: Manufacture components or supplies in other countries. Sell raw m
    12·1 answer
  • What is the difference between regular potato salad and Amish potato salad
    10·1 answer
  • Consulting firms and human resource departments have spent innumerable hours attempting to develop executive compensation progra
    12·1 answer
  • Piper Corporation’s standards call for 1,000 direct labor-hours to produce 250 units of product. During October the company work
    6·1 answer
  • Explain the following quote "The rich rule over the poor, and the borrower is slave to the lender."
    9·2 answers
  • For each of the following accounts indicate the effect of a debit or a credit on the account and the normal balance.
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!