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insens350 [35]
2 years ago
7

Luis makes $23. 10 per hour at his job for the first 40 hours he works each week. If he works more than 40 hours, then Luis make

s $34. 65 per hour. If Luis works 46 hours in one week, how much does he earn? a. $1,062. 60 b. $1,097. 25 c. $1,131. 90 d. $1,593. 90.
Business
1 answer:
morpeh [17]2 years ago
4 0

The correct statement will be that Luis earns $1131.90 in each week if he works for more than 46 hours at the standard rates of the salary. So, the correct option is C.

The amount can be calculated by the summation of the first 40 hours at the normal rate of salary and the next 6 hours at the increased rate of salary as given in the example above.

  • Hourly pay is the rate of salary where the salary is not determined upon the work done in number of hours and does not get determined on the performance during such hours of service.

  • We can calculate the rate of salary as using the calculations below,

  • \rm Salary\ for\ First\ 40\ Hours= 40\ x\ \$23.10\\\\\\\rm Salary\ for\ First\ 40\ Hours=\$924

  • Now calculating the salary for the additional 6 hours worked at the newer rate as below using the similar formula,

  • \rm Salary\ for\ First\ 40\ Hours=6\ x\ \$34.65\\\\\\\rm Salary\ for\ First\ 40\ Hours= \$207.90

  • We have the values of salaries of both such hours. Now doing the summation of both the salaries we get,

  • \rm Total\ Salary= \rm Salary\ for\ First\ 40\ Hours+\rm Salary\ for\ 6\ Hours\\\\\\\rm Total\ Salary= \$924+ \$207.90\\\\\\\rm Total\ Salary= \$1131.90

  • It is obtained that Luis earned $1131.90 for the week at the different rates of hourly pays as provided.

Hence, the correct option is C that Luis has earned $1131.90 by working 46 hours in a week.

To know more about hourly pay, click the link below.

brainly.com/question/13945697

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3 years ago
Bose Company issued $600,000, 14 % bond on January 1
Tasya [4]

Answer:

1) If bonds are issued as 100 entry will be

                                   Debit                                         Credit

Cash                            600,000

Bonds payable                                                              600,000

2) If bonds are issued at 95

                                     Debit                                        Credit

Cash                              570,000

Discount                          30,000

Bonds payable                                                               600,000

3) If bonds are issued at 105

Cash                               630,000

Bonds payable                                                                 600,000

Premium                                                                             30,000

4)

                                        Debit                                           Credit

Interest payable                42,000

Cash                                                                                    42,000

Explanation:

1) If the bonds are issued at 100 then the company will receive the same amount of cash as the face value so they will receive 600,000 cash and will owe the bond buyers 600,000 so they will debit 600,000 cash and credit 600,000 bonds payable.

2) If bonds are issued at 95 then the company will receive cash 95% of 600,000 which is 570,000 so they will debit 570,000 cash, 30,000 will debited as discount and 600,000 bonds payable.

3) If bonds are issued at 105 then the company will receive cash 105% of 600,000 which is 630,000 so they will debit 630,000 cash and will credit 600,000 bonds payable and 30,000 as premium.

4) The bonds are issued on January 1 and there is a journal entry of interest payment at July 1 so we assume that the bond has semi annual payments.

14% of 600,000 is 84,000 and we will divide it by 2 to find the semi annual payment which will be 42,000, so we will debit interest payable by 42,000 and credit cash by 42,000.

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2 years ago
Karen made a commission of $3522.75 on the sale of a property. Splitter commission clear with her broker which is 50% to the bro
Mademuasel [1]

<u>Answer:</u>

<em>$50,325 is the sale price of the property</em>

<u>Explanation:</u>

Karen made a commission of $3522.75 on the sale of a property. Splitter commission clear with her broker which is 50% to the broker and 50% Karen. Broker took 55% of the total commission on a 7% commission rate.

So not considering the commission for a while if we divide commission by the commission rate we will get the sale price.

                                    $3522.75/0.07= $50,325.

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What are some of the possible pitfalls of owning a credit card? Check all that apply. A Only paying the minimum balance due. B P
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Answer:

<em>C. Paying your bill late.</em>

<em>E. Juggling too many cards.</em>

Explanation:

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