answer.
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
Rina8888 [55]
2 years ago
5

Use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages. Michael Mirer worked for Dawson Company for six months t

his year and earned $11,200. The other six months he earned $6,900 working for McBride Company (a separate company). The amount of FUTA taxes to be paid on Mirer's wages by the two companies is
Business
1 answer:
lisov135 [29]2 years ago
5 0

Answer:

$83.4

Explanation:

Under FUTA, only the first $7000 earning per year will be taxed. Any amounts above $7000 will be tax-exempt.

For Michael, the tax will be calculated as follows.

for the$11200 earned in Dawson company

=0.6% x $7000

=0.06/100 x 7000

=0.006 x 7000

=$42

Amount earned working at McBribe

=0.06% x 6900

=0.006 x $6900

=$41.4

Total to be paid by the two companies

=$42 + $ 41.4

=$83.4

You might be interested in
What will you use for banca/boat to move​
Serggg [28]

Answer:

a paddle

Explanation:

Using a "paddle" is very important in order to move/propel a boat. Paddling creates a force which goes against the water. This force is faced by an <u>opposite force</u> that is<em> equal </em>and that which<em> allows the boat to move forward</em>.

So as you push the water asides, the boat accelerates. Such technique is deemed efficient when using the boat. Not following the proper technique will not move the boat.

5 0
1 year ago
Orleans Corporation, a U.S. corporation, reported U.S. taxable income of $2,000,000. Included in the computation of taxable inco
Dafna11 [192]

Answer:

$420,000

Explanation:

Calculation for Orleans’s net U.S. tax liability

Using this formula

Tax liability=Taxable income×U.S tax rate

Let plug in the formula

Tax liability=$2,000,000×21%

Tax liability=$420,000

Therefore Orleans’s net U.S. tax will be $420,000. The withholding tax amount of $8,000 was not included because it was already imposed on the dividend.

8 0
1 year ago
Last year a certain bond with a face value of $5,000 yielded 8 percent of its face value in interest. If that interest was appro
Katen [24]

Answer:

bond's selling price is $6154

Explanation:

given data

face value = $5,000

interest = 8 % of face value

rate = 6.5 %

to find out

bond's selling price

solution

we find interest that is

interest = 8 % of face value

interest = 8 % × 5000

interest = 400

so we consider bond selling price is x

so

bond selling equation will be

interest = rate × bond selling price

400 = 0.065 × x

x = 6154

so bond's selling price is $6154

8 0
1 year ago
Josh bought a bond with a par value of 1,500 from company ABC. The bond pays twenty annual coupons of 90 and matures at the end
ElenaW [278]

Answer: c

Explanation:

3 0
1 year ago
A manufacturing company has the following budgeted overhead costs: Indirect materials: $0.50 per unit; Utilities: $0.25 per unit
Darina [25.2K]

Answer:

Total overhead                       $

Indirect material ($0.5 x 200,000 units) = 100,000

Utilities ($0.25 x 200,000 units)             = 50,000

Supervisory salaries                                 = 60,000

Building rent                                              = 80,000

Total overhead                                             290,000

Overhead rate                = <u>Budgeted overhead</u>

                                           Budgeted direct labour hours

                                         = <u>$290,000</u>

                                              100,000 hours

                                         = $2.90 per direct labour hour

Explanation:

In this case, we need to obtain the total overhead, which is the total of indirect material, utilities, supervisory salaries and building rent.

Then, we will divide the total overhead by direct labour hours so as to determine the overhead rate.

8 0
1 year ago
Other questions:
  • A drawback to high-velocity, automated decision-making systems is that they are unable to
    10·1 answer
  • Johanna, a photographer, is commissioned to do a photo shoot for a fashion designer’s new collection. Johanna is creating . Once
    14·2 answers
  • When the Federal Reserve sells a government bond to a primary dealer, reserves in the banking system ________ and the monetary b
    15·1 answer
  • Mikhail Corporation has the following sales forecasts for the first three months of 2018: Month Sales January $36,000 February 2
    6·1 answer
  • Josey Doakes was reading the balance sheet of Gogoldze Inc. when she spilled grape juice on it. After the juice spill, the balan
    12·1 answer
  • An on-premises workload consists of a single server with an Apache instance and a MySQL database. The Solutions Architect plans
    6·1 answer
  • MaryJane’s Bakery manufactures and sells a variety of baked goods. The selling price per dozen of chocolate glazed dunuts is $8.
    6·1 answer
  • Marco traveled across three states to shop at Tiffany's to buy his girlfriend, Jana, a present. This is the only Tiffany's store
    11·2 answers
  • Textbooks, transportation and room and board are all...
    9·1 answer
  • Felipe works for an insurance agency with about 50 employees. The HR director recently sent an email requesting information on w
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!