Assume an employee of Rocco Rock Company earns $1,100 of gross wages during the current pay period and is required to remit to the government $110 for income tax and $55 for FICA. Consider the following two procedures for paying the employee: Procedure 1 (Withholdings) Procedure 2 (No Withholdings) Rocco Rock Company pays the employee net wages of $935 and will remit income taxes and FICA on behalf of the employee. Rocco Rock Company pays the employee gross wages of $1,100 and the employee is responsible for remitting income taxes and FICA himself. Required: 1-a. Ignoring employer payroll taxes, under each procedure calculate (a) the total labor cost for the company and (b) the amount of cash the employee will have after satisfying all responsibilities to the government.
Answers: 3
Business, 22.06.2019 01:30
The gomez company, a merchandising firm, has budgeted its activity for december according to the following information: • sales at $500,000, all for cash. • merchandise inventory on november 30 was $250,000. • the cash balance at december 1 was $20,000. • selling and administrative expenses are budgeted at $50,000 for december and are paid for in cash. • budgeted depreciation for december is $30,000. • the planned merchandise inventory on december 31 is $260,000. • the cost of goods sold represents 75% of the selling price. • all purchases are paid for in cash. the budgeted cash disbursements for december are:
Answers: 3
Business, 22.06.2019 18:30
You should typically prepare at least questions for the people who will host you during a job shadow. a. 3 b. 4 c. 5 d. 2
Answers: 1
Business, 22.06.2019 23:50
Mauro products distributes a single product, a woven basket whose selling price is $15 and whose variable expense is $12 per unit. the company’s monthly fixed expense is $4,200. required: 1. solve for the company’s break-even point in unit sales using the equation method. 2. solve for the company’s break-even point in dollar sales using the equation method and the cm ratio. (do not round intermediate calculations. round "cm ratio percent" to nearest whole percent.) 3. solve for the company’s break-even point in unit sales using the formula method. 4. solve for the company’s break-even point in dollar sales using the formula method and the cm ratio. (do not round intermediate calculations. round "cm ratio percent" to nearest whole percent.)
Answers: 2
Business, 23.06.2019 02:10
Ben is the owner of a small organization with a few employees. he plans to have a data warehouse for the limited number of users in his organization. which data warehouse is most suited for ben's organization? o a. lan-based o b. stationary o c. distributed od. virtual
Answers: 2
Assume an employee of Rocco Rock Company earns $1,100 of gross wages during the current pay period a...
Social Studies, 30.03.2020 16:54
English, 30.03.2020 16:54
Mathematics, 30.03.2020 16:54
Mathematics, 30.03.2020 16:54
Mathematics, 30.03.2020 16:54
Mathematics, 30.03.2020 16:54