What would be your gross pay
Q: Jeffery Simpson sells widgets for Colorful Toys, Inc. His annual salary is $50,000 per year and he…
A:
Q: 5. Evelyn Watterson sells cosmetics for Final Touch, Inc. She is guaranteed a salary of $650 a month…
A: Evelyn Watterson's gross pay will be greater from both the options.
Q: Dainty Ltd has an average weekly payroll of $200 000. The employees are entitled to 2 weeks',…
A: We can calculate this as given below : 56% employees will take 2 week's sick leave $ 200,000 * 2…
Q: Question 4 Kenz Limited employs its staff on a five-day working week. The weekly salaries is…
A: What is meant by Journal Entries? It is the first step to record the financial transactions which…
Q: Mason Painting Services has a weekly payroll of $25,000. December 31 falls on Wednesday and Mason…
A: Payroll represents the wages paid to the employees of the company. It is posted as salaries expense.
Q: 7. The minimum wage in 1986 was 3.46 $/hr. You work 5 days per week and 6 hrs per day. How many…
A: Weekly Pay = No of Days Worked * No of Hours in Day Worked * Hourly Rate To Calculate How many…
Q: 3. A. Luna is a sales agent. His official working hours is 8 hours a day, with a monthly salary of…
A: Gross Pay will be Particulars Amount Salary for the month P33,000 Add: Allowances…
Q: ix) Wages and salaries are expected to be $2,304,000 per annum and will be paid monthly. x) In the…
A: Cash Budget- A cash budget is a strategy for determining an organization's cash inputs and outflows.…
Q: Foch began operations on January 2, 2021. It employs 12 people who work 8-hour days. Fach employee…
A: A journal entry is a form of accounting entry that is used to report a business transaction in a…
Q: (b) According to the new renumeration scheme, the starting pay of a technician is RM2029 per month…
A: Meaning of Remuneration:- It's the compensation that an employee gets. It is the base salary and the…
Q: ANOMALOUS IRREGULAR Co. grants its employees twelve days paid vacation leave each year. Per…
A: The question is related calculation of liability accrued due to unused vacation. The details are…
Q: B-If the total wages ( 760000)$. Rate per hour (5500)$. How * ?many hours of work ( 120) hour ( 101…
A: Given, Total wages = $760,000 Rate per hour = $5,500
Q: A new hotel is opening and the owners are anticipating a great deal of business upon its opening. As…
A: Regular earnings = (40 hours x $10.15 per hour) = $406 Overtime earnings = (57 hours - 40 hours) x…
Q: 3. Janet works on a pay schedule of P21,300 per month plus a 3% commission on all sales. If she sold…
A: Commission = Sales×3%
Q: Jayne Company presently pays its employees at the end of each week. The weekly payroll totals…
A: The amount of money that is delayed for the payment can be referred to as the float amount. The…
Q: Calculate the expected annual sick-leave expense for Dainty Ltd (on the basis of average salaries).…
A: a) 56% of employees will take 2 weeks of sick Leave = $200,000 x 2 x 22% = $200,000 x 2 x 0.22 =…
Q: 7. Willis Vogal sells for Harvey's King-Size Clothes. He is guaranteed $3.20 per hour or 2.5% of his…
A: Hourly rate = $ 3.20 Pay rate based on sale = 2.5% Hours worked = 79 Sales = $ 6954
Q: A business is deciding whether to give an end-of-year bonus of $5000 each year for the next four…
A: End of year bonus (B) = $5,000 Bonus period (p) = 4 years Discount rate (r) = 0.07 Present value…
Q: 2. A. Luna is a sales agent. His official working hours is 8 hours a day, with a monthly salary of…
A: Overtime pay is the pay which an employee earns by way of doing the overtime work in the company.…
Q: ix) Wages and salaries are expected to be $2,304,000 per annum and will be paid monthly. In the…
A: A Cash budget is the presentation and forecasting of all the future availability and upcoming…
Q: 5. A. Luna is a sales agent. His official working hours is 8 hours a day, with a monthly salary of…
A: Total compensation is the total amount which an employee receives from his or her employer during…
Q: Show work! A job pays $45,000 for the first year with an annual increase of 1.15% per year beginning…
A: The question is based on the concept of periodic cash flows with a constant growth rate for a finite…
Q: .The SUTA rate for Worldwide Industries is 5.4% and its FUTA rate is 6.0% less the 5.4% SUTA credit.…
A: SUTA is State Unemployment Tax and FUTA is Federal Unemployment Tax. Data given: SUTA = 5.4% FUTA…
Q: 2. Matt is a Product Manager earning a semi-monthly salary of P5 500. He is given commission of 2.5%…
A: The gross earnings of the employees represent the total income before accounting for any deductions…
Q: Your technicians are making $15 per hour today. Assuming inflation has been 3.3% over each of the…
A: Here we will have to adjust the salary for the impact of inflation for each of the 3 years. It means…
Q: Willamette Manufacturing estimated that its total payroll for the coming year would be $650,000. The…
A: rate of premium=0.3%
Q: Flowers Corp. pays its employees every Friday. The Flowers' Corp. employees earn $600,000 each five…
A: Weekly payment = $600,000 Number of working days in a week = 5 Days Week days till 31st December = 4…
Q: 1.Jill is paid a yearly salary of $90,000. How does she make per month?
A: Salary is the payment form from the employer to the employees, which might be specified the contract…
Q: 6. Roman Zapata sells electrical fixtures for The Lighting Center. He is guaranteed a salary of $560…
A: Roman Zapata's salary will be decided by comparing his guaranteed salary and salary on the basis of…
Q: ANOMALOUS IRREGULAR Co. grants its employees twelve days paid vacation leave each year. Per…
A: Vacation leave Normally most of the companies are provide additional benefits to its employees in…
Q: 14. What is the fixed portion of Miramax's electricity expense rounded to the nearest peso? Miramax…
A: When some cost is showing combined effect of variable and fixed cost i.e. it is semi variable and…
Q: Q15 Under Present value future earnings model, how to compute the value of human resource if Mr.…
A: The present value of the future earnings model refers to the model that helps to compute the value…
Q: You are paid a base weekly salary of $362 and earn 6.5% commission on your sales at a furniture…
A: Total earning = Total salary + Commission on sales
Q: 4. Andrew works for 46 hours including the 6 hours overtime. His regular wage rate per hour is…
A: Overtime rate = 30% of Basic Wage Rate (Overtime worked on Special Day) Note: Since you have posted…
Q: Lauren's gross pay for July was $3188.35 on net sales totalling $88,630. If her base salary is $1000…
A: Commission in July for Lauren = $3188.35 - $1000 = $2188.35 Net Sales in July = $88630 Lauren get…
Q: Ben is paid a monthly salary of 41,500 pesos and has a monthly quota of 75,000 pesos. His sales for…
A: Here in this question, we are required to calculate gross total income. Gross total income for a…
Q: Dainty Ltd has an average weekly payroll of $200 000. The employees are entitled to 2 weeks',…
A: It is the plan that is given to the employees on the days when they are not able to perform their…
Q: Joni works at PT. ABC with a monthly salary of Rp. 7,000,000. One day in December 2020 Joni worked…
A: SALARY: Compensation paid in a fixed form of payment made to an employee by an employer is known as…
Q: 5. Kane Flakes had gross earnings of $294.30 for last week. Scott earns a base salary of $150.00 on…
A: Commission amount = gross earnings - Base salary = $294.30 - $150 = $144.30
Q: 10. Your company has been offered credit terms of 4/30, net 90 days. What will be the nominal annual…
A: Given:
Q: one paying a starting salary of $40,000 with yearly Salaries Suppose you are offered two identical…
A: Salaries include: Wages Pension Annuity Gratuity Fees Commission Profits Leave encashment
Q: Lito gets a weekly salary of P4,235 per week plus a commission of 5.5% on sales. What are his total…
A: The Numerical has covered the concept of computing weekly Earing. The below formula is used to…
Q: 3. Jefrey Yang receives a bill of P30,500 dated January 13 with terms, 7 , 5/10 and n/30. What cash…
A: 2/10 net 30 means 2% discount will be there if payment is made with in 10 days and no discount after…
Q: LC4Q1. Moosa earns OMR 30 per hour regular pay and time and a half for overtime. How much did he…
A: Earnings = 30 OMR per hour Overtime pay = time and half Required to find Overtime pay for 7.5 hrs
Q: a) Calculate the expected annual sick-leave expense for Dainty Ltd (on the basis of average…
A: a. The expected annual sick leave expense for Dainty Ltd. (on the basis of average salaries) would…
Q: the accrued payroll journal entries for your company 1, that has a payroll expense of $460,000 every…
A: The accrued salaries are the salaries which are earned by the employees but are not paid yet by the…
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- Carl La Duca earns 3,875 each month and works 40 hours each week. Compute: a. The hourly rate________ b. The overtime rate at time and one-half________Cal DiMangino earns 2,875 each month and works 40 hours each week. Compute: a. The hourly rate________ b. The overtime rate at time and one-half_______Now assume that it is several years later. The brothers are concerned about the firm’s current credit terms of net 30, which means that contractors buying building products from the firm are not offered a discount and are supposed to pay the full amount in 30 days. Gross sales are now running $1,000,000 a year, and 80% (by dollar volume) of the firm’s paying customers generally pay the full amount on Day 30; the other 20% pay, on average, on Day 40. Of the firm’s gross sales, 2% ends up as bad-debt losses. The brothers are now considering a change in the firm’s credit policy. The change would entail: (1) changing the credit terms to 2/10, net 20, (2) employing stricter credit standards before granting credit, and (3) enforcing collections with greater vigor than in the past. Thus, cash customers and those paying within 10 days would receive a 2% discount, but all others would have to pay the full amount after only 20 days. The brothers believe the discount would both attract additional customers and encourage some existing customers to purchase more from the firm—after all, the discount amounts to a price reduction. Of course, these customers would take the discount and hence would pay in only 10 days. The net expected result is for sales to increase to $1,100,000; for 60% of the paying customers to take the discount and pay on the 10th day; for 30% to pay the full amount on Day 20; for 10% to pay late on Day 30; and for bad-debt losses to fall from 2% to 1% of gross sales. The firm’s operating cost ratio will remain unchanged at 75%, and its cost of carrying receivables will remain unchanged at 12%. To begin the analysis, describe the four variables that make up a firm’s credit policy and explain how each of them affects sales and collections.
- Gear Up Co. pays 65% of its purchases in the month of purchase, 30% in the month after the purchase, and 5% in the second month following the purchase. What are the cash payments if it made the following purchases in 2018?Barbara Ripa receives 695 for a regular 40-hour week and time and one-half for overtime. For a workweek of 45 hours, compute: a. The regular earnings________ b. The overtime earnings________ c. The total earnings________COMPUTING OVERTI ME RATE OF PAY AND GROSS WEEKLY PAY Rebecca Huang receives a regular salary of 2,600 a month and is paid 1 times the regular hourly rate for hours worked in excess of 40 per week. (a) Calculate Huangs overtime rate of pay. (b) Calculate Huangs total gross weekly pay if she works 45 hours during the week.
- Employees at Rayon Enterprises earn one day a month of vacation compensation (twelve days total each year). Vacation compensation is paid at an hourly rate of $45, based on an eight-hour work day. Rayons first pay period is January. It is now April 30, how much vacation liability has accumulated if the company has four employees and no vacation compensation has been paid? A. $1,440 B. $4,320 C. $5,760 D. $7,200On January 1, a flower shop contracts with customers to provide flowers for their wedding on June 2. The total contract price is $3,000, payable in equal installments for the next six months on the first of each month (with the first payment due January 1). How much will be recorded as revenue during the month of April?_____1. Johnson Industries, a semiweekly depositor, pays its employees every Friday. When should the company deposit the employment taxes for each weekly payday? _____2. What rule should Bartlett Repair, a new company, follow in making its deposits for accumulated employment taxes? _____3. Quail Hollow Motors (a semiweekly depositor) accumulates taxes of 105,000 on Monday and must deposit this amount on Tuesday, the next banking day. On Tuesday, the company accumulates additional taxes of 20,000. What deposit rule should Quail Hollow Motors follow for depositing the additional 20,000?
- Accounting for bonus and vacation pay Cathy Muench a factory worker, earns 1,000 each week. In addition, she will receive a 4,000 bonus at year-end and a four-week paid vacation. Prepare the entry to record the weekly payroll and the costs and liabilities related to the bonus and the vacation pay, assuming that Muench is the only employee.Lucille receives an annual salary of $37,500 based on a 37.5-hour workweek. What are her gross earnings for a two-week pay period in which she works 9 hours of overtime at 112112 times her regular rate of pay? (Assume there are exactly 52 weeks in a year. Round your answer to the nearest cent.)The president of a growing engineering firm wishes to give each of 20 employees a holiday bonus. How much needs to be deposited each monthfor a year at a 12% nominal rate, compounded monthly, so that each employee will receive a $2,500 bonus? a. $2,070 b. $3,840 c. $3,940 d. $4,170.
