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
olchik [2.2K]
2 years ago
13

Barbara Muller Services (BMS) pays its employees monthly. The payroll information listed below is for January 2018, the first mo

nth of BMS's fiscal year. Assume none of the employees' earnings reached $7,000 during the month. Salaries $ 80,000 Federal income taxes to be withheld 16,000 Federal unemployment tax rate 0.80 % State unemployment tax rate (after FUTA deduction) 5.40 % Social security tax rate 6.2 % Medicare tax rate 1.45 % The journal entry to record payroll for the January 2018 pay period will include a debit to payroll tax expense of:
Business
1 answer:
Semmy [17]2 years ago
5 0

Answer:

$13,296

Explanation:

Federal unemployment tax rate = 0.8% of 96,000 = 768

State unemployement tax rate = 5.4% of 96,000 = 5,184

Social security tax rate+medicare tax rate = 6.2%+1.45% = 7.65%

7.65% of 96,000 = 7,344

So total tax expense = 768+5,184+7,344 = $13,296

So answer is $13,296

You might be interested in
Suppose that when the price of peanut butter falls from $2 to $1 per jar, the quantity of jelly purchased rises from 14 million
yan [13]

Answer:

-0.20

Explanation:

Cross price elasticity of demand measures the responsiveness of quantity demanded of good A to changes in price of good B.

If cross price elasticity of demand is positive, it means that the goods are substitute goods.

Substitute goods are goods that can be used in place of another good.

If the cross-price elasticity is negative, it means that the goods are complementary goods.

Complementary goods are goods that are consumed together

Cross Price elasticity of demand = midpoint change in quantity demanded / midpoint change in price  

Midpoint change in quantity demanded = change in quantity demanded / average of both demands

change in quantity demanded = 16 million - 14 million = 2 million

Average = (16 million + 14 million) / 2 = 15 million

2 / 15 = 0.133

midpoint change in price = change in price / average of both price

change in price = 1 - 2 = - 1

average of price =(2 + 1) / 2 = 1.5

-1/1.5 = -0.67

0.1333 / -0.67

7 0
2 years ago
Garcon Inc. manufactures electronic products, with two operating divisions, Consumer and Commercial. Condensed divisional income
leonid [27]

Answer:

1.Since there is spare capacity in the consumer division, the acceptable transfer prices are variable cost per unit - market price per unit

i.e. $104-$150

The transfer price should be set in between the two. However, $150 is an appropriate price

2. Income will increase as follows:

Consumer Division = (115-104)*2880 = $31,680    

Commercial Division = (150-115)*2880 = $100,800    

Company = $132,480

3) check the attached file

4.Income will increase as follows:    

Consumer Division = (126-104)*2880 = $63,360    

Commercial Division = (150-126)*2880 = $69,120    

Company = $132,480

Explanation:

check attached files for explanation well detailed.

7 0
2 years ago
Plessings Company leased a piece of machinery to Banana, Inc. on January 1, 2019. The lease is correctly classified as a sales−t
Stells [14]

Answer:

7.49%

Explanation:

n = Number of payment periods = 3

P = Total lease payment = Annual lease payment * Number of period = $20,700 * 3 = $62,100

FV = fair value of the machine = $50,000

Implicit rate = [($62,100 / $50,000)^(1 / 3)] - 1 = 0.0749, or 7.49%

3 0
2 years ago
The Thomas Cook travel agency has experienced financial setbacks due to the Iraq war, the SARS epidemic, and unusually hot weath
Tomtit [17]

Answer:

Threats in its external environment.

Explanation:

Situational analysis can be described as the thorough examination of the internal and external constituents of an organization.

Situational analysis is employed by different organizations to help identify their strengths and weaknesses. It helps to examine the capabilities of employees within an organization.

Situational analysis helps to identify the current strategies and activities that have been put in place inorder to solve problem. It also helps to get a clear insight into the different opinions and experiences of stakeholders.

4 0
2 years ago
"Higher level professions require indepth knowledge, good skill, and special training." Explain this statement with examples.
Greeley [361]

Answer:

True.

Explanation:

Higher level professions are professions occupied by professionals who think strategically and carry out their duties by adhering to the ethical standards that governs their profession. Examples are medical practitioners, engineering, accountant and pilot. All these requires in-depth knowledge , good skill and special training because of the technical nature of the profession.

Having a degree is not enough to deliver on these professions because of their complexities. These professionals must adhere to the ethical standard that governs their profession and also hold themselves out of having the required training, knowledge and experience .

Take for instance a pilot who controls a plane. Asides having the required education, he would undergo special trainings on how to fly planes. He must also have the skills and experience of flying before being certified to fly people because of the risky nature of the profession.

The above example also applies to a doctor. He would undergo trainings depending on his area of specialization and must have knowledge before being certified to work as a doctor. The reason is that he is dealing with lives hence must possess the the required skills and experience.

8 0
2 years ago
Other questions:
  • Certificate of deposit typical interest rate
    10·2 answers
  • Jon P. Farmer is the founder of Kolopua Hawaii LLC, a company that markets Pure Hawaiian Air. Bottles of Pure Hawaiian Air conta
    11·1 answer
  • Eichholtz Company uses 10,000 units of a part in its production process. The costs to make a part are: direct materials, $12; di
    10·1 answer
  • CMN Inc. uses LIFO and has experienced increasing costs since its founding. CMN disclosed that the LIFO reserve (also known as t
    10·1 answer
  • A(n) _______ can track where the user goes on the Internet and measure how long the user stays at any particular website. This t
    13·1 answer
  • The following data were selected from the records of Sykes Company for the year ended December 31, Current Year.
    12·1 answer
  • Herbal Organics used actor and former NFL player Sweet Dave Brown to act as its spokesperson as the "Herbal Organics Man." It fi
    15·1 answer
  • Houston repeatedly promised his daughter, Allyson, that he would pay one-half of the costs for Allyson to attend a private, hist
    13·1 answer
  • EvenFlo Pipes forecasts a small increase in sales next year. To achieve this growth in sales, however, the firm must purchase an
    9·1 answer
  • You are considering opening a small flower store. You anticipate that you will earn $100,000 each year in revenue. It will cost
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!