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DochEvi [55]
2 years ago
11

Dawn is verifying the accuracy of her paycheck. She earns $12 an hour and works 40 hours each week. Her biweekly deductions are

social security 6.2%, Medicare 1.45%, federal withholding tax $73.25, state withholding tax $22.50, and health insurance $37.47. What is her net pay if she is paid biweekly?
A. $753.34 B. $779.44 C. $784.34 D. $826.78
Business
2 answers:
deff fn [24]2 years ago
8 0

Answer:

$753.34

Explanation:

in order to accurately determine  her net pay biweekly, firstly, calculate her earnings biweekly. next, subtract her total biweekly deductions from her total biweekly earnings.The resultant amount is her net pay

therefore,

earning per hour = $12

earnings for 40 hours= $12×40=$480

earnings biweekly (every two weeks)=$480×2=$960

total bi weekly deductions;

security = \frac{6.2}{100}×960=$59.52

medicare=\frac{1.45}{100}×960=$13.92

federal withholding tax=$73.25

state withholding tax=$22.50

health insurance =$37.47

total deductions=$59.52+$13.92+$73.25+$22.50+$37.47=$206.66

∴net pay= total biweekly earnings - total biweekly deductions

=$960-$206.66

net pay =$753.34

kap26 [50]2 years ago
7 0
The answer is a) $753.34
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The answer is b. Difficult.

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What types of information does managerial accounting provide? (Check all that apply.) Financial Information for internal decisio
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Financial and non-financial information for internal decision makers.

Explanation:

Managerial accounting is related to the information that is used for the management of the organization and its information is not widely used for external users. It is almost used by the internal decision makers. The information mostly relates to the effective running of its operations and control mechanism implications.

8 0
2 years ago
Your entertainment price index (EPI) was computed based on three goods: movie tickets, popcorn, and limeade. If you change the q
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Your entertainment price index (EPI), might fall or rise, contingent on both the quantity of the goods that you bought and the prices of these goods.

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4 0
2 years ago
Read 2 more answers
Manufacturing costs for Davenport Company during 2018 were as follows: Beginning Finished Goods, 1/1/18 $ 24,400 Beginning Raw M
Nadya [2.5K]

Answer:

1. $283,400

2. $214,968

3. $790,468

4. $780,168

5. $781,868

Explanation:

Material used = Beginning Materials + Purchases - Ending Materials

                       = $35,800 + $304,500 - $40,400

                       = $299,900

Then,

<em>Direct Materials Used = Total Materials Used - Indirect Material</em>

                                     = $299,900 - $16,500

                                     = $283,400

Applied overhead = Application Rate × Actual Activity        

                               =  78% ×  $275,600

                               =  $214,968

Calculation of Total Manufacturing Costs

Direct Materials                         $283,400

Direct Labor                               $275,600

Overheads Applied                    $214,968

Indirect Materials                          $16,500

Total Manufacturing Costs        $790,468

Cost of Goods Manufactured = Beginning Work in Process Inventory + Manufacturing Costs - Ending Work in Process Inventory

                                                  = $110,600 + $790,468 - $120,900

                                                  = $780,168

Cost of goods sold = Beginning Finished Goods Inventory + Cost of Goods Manufactured - Ending Finished Goods Inventory    

                                =  $ 24,400 +  $780,168 -  $22,700    

                                = $781,868

7 0
2 years ago
You are 20 years old and have completed your BBA and want to pursue further education but you don’t want to take money from your
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Answer:

1. Will you be able to meet your goal at this current saving rate?

  • yes, you will even have some spare money

annual cost of MBA = 400,000 x 2 years = 800,000

monthly salary = 25,000 and you will deposit 12,500

ordinary annuity, 0.8333%, 59 periods (5 years - 1 month) = 75.80535

the future value of your account = 12,500 x 75.80535 = 947,566.88 which is more than the cost of the MBA

2. What percentage of your salary should you save if you want to have exactly your university expenses amount?

  • 42.2138%

800,000 / 75.80535 = 10,553.34

10,553.34 / 25,000 = 0.422138 = 42.2138%

3. How would your answer to part 1 change if the saving account rate changed to 5%?

  • actually you still have more money than what you need even if the interest rate falls to 5%, so you can still take your MBA

monthly salary = 25,000 and you will deposit 12,500

ordinary annuity, 0.41666%, 59 periods (5 years - 1 month) = 66.72805

the future value of your account = 12,500 x 66.72805 = 834,100.63 which is more than the cost of the MBA

4. If you are given an option to invest at the 10% saving rate with monthly compounding or 10.5% semiannual compounding, which would you chose?

  • I would choose the 10.5% semiannual compounding because the effective interest rate is higher.

the effective interest rate of investing at 10% compounded monthly = (1 + 10%/12)¹² - 1 = 10.47%

the effective interest rate of investing at 10.5% compounded semiannually = (1 + 10.5%/2)² - 1 = 10.77%

8 0
2 years ago
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