Brad earns $24 per hour. He worked 48 hours last week and will be working 42 hours this week. Under the ESA, how much should he be paid for overtime, assuming NO averaging hours agreement. 1. $33 2. $0 3. $144 4. $132
Q: Bass acquired its 70% holding in Miller many years ago. At 31 December 2007 Miller had inventory…
A: A consolidated adjustment entry is made by the parent company so that the doubling effect can be…
Q: Pretzelmania, Incorporated, issues 7%, 15-year bonds with a face amount of $64,000 for $70,216 on…
A: Cash Payment of Interest = Face Value * Stated rate of InterestInterest Expense = Carrying Value *…
Q: Please do not give solution in image format thanku
A: The cost of goods sold includes the cost of goods that are sold during the period. The cost of goods…
Q: Altira Corporation provides the following information related to its inventory during the month of…
A: Under periodic inventory valuation system the inventory account is updated at the end of an…
Q: 1st Q Gross Income 600,000 per Quarter Deductions per 280,000 Quarter W/tax at source 2,000 per…
A: It is the amount of tax a taxpayer is liable to pay on the taxable income earned. The tax liability…
Q: Customer-Level Planning 7-Eleven operates a number of convenience stores worldwide. Assume that an…
A: Contribution margin ratio :— It is calculated by dividing contribution margin per unit by selling…
Q: Sandhill Company uses the perpetual inventory system and had the following purchases and sales…
A: A company's inventory technique or method is important for a number of reasons, including the direct…
Q: Web Structure Inc. calculated the ratios shown below for 2023 and 2022: Required: 1. & 2. Identify…
A: According to the question given, we need to identify whether the change in ratios from 2022 to 2023…
Q: On January 2, 2020, Sunland Company began construction of a new citrus processing plant. The…
A: Weighted average accumulated expenditure is the product of expenditure and per unit capitalized…
Q: Sandy and John Ferguson got married eight years ago and have a seven-year-old daughter, Samantha. In…
A: When the total taxable income is after computing the AGI and deducting all the deductions allowed to…
Q: The production department is proposing the purchase of an automatic insertion machine. It has…
A: Average rate of return : Average rate of return calculate the rate at which average income is…
Q: The following information is available for Brownstone Products Company for the month of July: Master…
A: A master budget variance refers to the difference between the budgeted or planned amounts and the…
Q: Alpena Corporation manufactures smartphone and tablet cases. The following is the cost of each unit.…
A: The incremental cost is the cost that an organization incurs due to additional production. If an…
Q: On April 2, 2020, shortly after the $7.5 million deposit outflow, Key Bank had borrowed the needed…
A: A mortgage is a sort of loan that is used to purchase real estate, most commonly a home. It is a…
Q: Mr. Smith had the following stock transactions: - Purchase of 100 shares of AXI Corporation on…
A: A wash sale occurs when a taxpayer sells or trades a stock or security at a loss and then buys a…
Q: Jing is concerned about having to repay her Old Age Security (OAS) pension that she receives. This…
A: Pension is defined as the fund collected from the taxpayer or employee during his term of…
Q: Our new computer system cost us $164,800. We will outgrow it in five years. When we sell it, we will…
A: A computer is considered an asset for a business since it adds economic value to the company's…
Q: Activity Expected Cost Setting up equipment Ordering materials $132,000 27,600 141,050 Machining…
A: Manufacturing overhead: It is the expense incurred as a result of the production process. These…
Q: In 2024, Monty Trucking Company negotiated and closed a long-term lease contract for newly…
A: Discount refers to the process where the business entity finds the current value of a future payment…
Q: On January 2, Year 1, Carter Company purchased equipment costing $18,000. The equipment has an…
A: Lets understand the basics.When useful life of equipment changed or salvage value of equipment…
Q: Summarize the alleged fraud List which management assertions were violated In your opinion, what…
A: Auditors use management assertions as a framework to assess the accuracy and reliability of an…
Q: Poppy Corporation owns 60 percent of Seed Company's common shares. Balance sheet data for the…
A: Earnings per share is a financial ratio that indicates a company’s ability to earn revenue for its…
Q: The company expects its cash balance on January 1, 2023, to be $49,000. It wants to maintain a…
A: SCHEDULE OF EXPECTED COLLECTION FROM CUSTOMERS Schedule of Expected Collection from Customers is one…
Q: Selected financial data regarding current assets and current liabilities for Ferris Air and Oceanic…
A: Lets understand the basics.Current ratio = Current Assets/ Current LiabilitiesAcid Test ratio =…
Q: To record income of $5,700 received in advance of services being performed. Please select the…
A: When using the accrual method of accounting, any income that is brought in before it has really been…
Q: Caro Manufacturing has two production departments, Machining and Assembly, and two service…
A: Step down method - under this method the cost of service department is not only allocated to…
Q: Exercise 10-3A (Algo) Determining the present value of a lump-sum future cash receipt LO 10-1 Gail…
A: Present value is the current value of a future sum of money given a specified rate of return.
Q: Assume that the Genove trucking company started business in June 1.2017 Assuming that the books are…
A: Adjusted trial balance is the trial balance in which all the adjustments for the year have been…
Q: Problem 14-1A Ohno Company specializes in manufacturing a unique model of bicycle helmet. The model…
A: Product cost is the cost which is incurred in the manufacturing of the product during the period.…
Q: Exercise 1: Calculate the HPPDS for each of the following Telemetry unit Hours Classification for…
A: HPPD can be defined as a measure used to calculate the healthcare facilities and nursing provided to…
Q: Chip Company produces three products, Kin, Ike, and Bix. Each product uses the same direct material.…
A: Income statement :— It is one of the financial statements that shows the profitability, total…
Q: You have been hired as a consultant for Pristine Urban-Tech Zither, Inc. (PUTZ), manufacturers of…
A: The money that comes into the business and the cash that flows out of the business is known as cash…
Q: MGMT 8500: $23-capstone -V30 Appendix One (Construct or lease) Objective: Should FFT lease or…
A: NPV stands for net present value which is the difference between the Present value of total cash…
Q: Devsi
A: The optimum preventive maintenance frequency is the frequency at which equipment should be inspected…
Q: Rolfe Company (a U.S.-based company) has a subsidiary in Nigeria where the local currency unit is…
A: The exchange rate is the exchange of the currencies of the two countries and there is a certain fee…
Q: As a financial auditor who is auditing long-lived assets, from the income statement, describe two…
A: Auditing is like being a financial detective for a company's books. It's the process of carefully…
Q: The Victoria Telephone Company has a $1,000 par value bond outstanding that pays 14 percent interest…
A: The price of a bond is required to be computed which is actually the carrying value of the bonds in…
Q: Differentiate between job-order costing and process costing. Under what circumstances might an…
A: Job-order costing and process costing are two distinct methods within cost accounting that…
Q: Dividends Per Share Seacrest Company has 10,000 shares of cumulative preferred 1% stock, $150 par…
A: The dividend is declared to the shareholders from the retained earnings of the business. The…
Q: Required information [The following information applies to the questions displayed below.] On…
A: Balance sheet :— It is one of the financial statements that shows a list of final ending balances…
Q: Crane Corporation had the following transactions during the current period. Issued 4,100 common…
A: The question is based on the concept of Financial Accounting.Journal Entries - Journal Entries are…
Q: Prepare an absorption-costing income statement for the first month of operation. Sales Cost of goods…
A: ABSORPTION COSTINGAbsorption Costing is a Cost Management Accounting method in which all cost…
Q: Fill in the missing amounts in each of the eight cases below. Each case is independent of the…
A: Contribution Margin - It is the difference between total sales and variable expenses.Variable Cost-…
Q: Crane Street Inc. makes unfinished bookcases that it sells for $58. Production costs are $38…
A: The incremental analysis is performed to compare the different alternatives available. The product…
Q: Current Attempt in Progress On January 1, 2024, Pearl Ltd., a private company reporting under ASPE,…
A: The journal entries are prepared to record the transactions on regular basis. The cost method does…
Q: Millard Corporation is a wholesale distributor of office products. It purchases office products from…
A: A segmented income statement gives further data by separating revenues and costs according to the…
Q: In 2024, Monty Trucking Company negotiated and closed a long-term lease contract for newly…
A: Discount refers to the process where the business entity finds the current worth of a future payment…
Q: To record the payment of a dividend of $10,000 to the shareholder. Please select the correct journal…
A: A dividend payment journal entry decreases the company's profits (Retained Earnings) and its…
Q: On January 1, a company issued 4%, 20-year bonds with a face amount of $75 million for $45,310,905…
A: Interest expenses refer to the costs incurred by an entity for borrowing funds from external…
Q: Required information Problem 9-4B (Static) Explore the impact of leases on the debt to equity ratio…
A: The accounting equation, also known as the balance sheet equation, is a fundamental concept in…
Brad earns $24 per hour. He worked 48 hours last week and will be working 42 hours this week. Under the ESA, how much should he be paid for overtime, assuming NO averaging hours agreement.
1. $33
2. $0
3. $144
4. $132
Step by step
Solved in 3 steps
- ohn Elton, who is classified as direct labor, earns $1,000 per week and is entitled to four weeks of vacation and 10 holidays each year. How much should be accrued for his holiday pay each week? A. $38.46 B. $40.00 C. $41.67 D. $130.00Assume that Johnson earns $24 per hour and he worked 40 hours this week. The Social Security rate is 6.2% and the Medicare rate is 1.45%, and his entire earnings are subject to both FICA taxes. Also, $120 in income taxes and $40 of union dues are withheld. Johnson's net take-home pay should be: Select one: O O O O A. $726.56 B. $800.00 C. $640.00 D. $738.80How would I calculate hourly rate for a non exempt employee with hours past 40? How would I factor in overtime? EX: Cooper worked 88 hours from 10/1 to 10/15 and is paid semi monthly. He earns 62,000 annually.
- Employee Rick Smith Employee Address 456 1st Ave Yuma, AZ 85364 Number of Hours Worked and Hourly Rate SSN 123-45-6789 Pay Type- Gross Pay Rick's Paycheck Deductions Federal Withholding State Withholding Fed Social Security/EE Fed Medicare/EE Medical 401K Totals Pay Period Check # 108 Current Check Amount(Net Pay) Year-to-Date $168.00 $76.00 $119.04 $27.84 $50.00 $80.00 $Use Al Homer Simpson receives an annual salary of $110-760.00, is paid biweekly, and works 40 regular hours per week. Overtime is paid at time-and-a-half regular pay. How many hours overtime (to the nearest integer) did Homer work during a pay period for which his gross pay was $5 005.50? Do not include any units in your answers. Answer:Gabriel receives an annual salary of $74,300; he is paid monthly, and his regular workweek is 38 hours. a) Calculate his regular pay per payment period. $ b) Calculate his hourly rate of pay. $ c) If his overtime rate is double the regular pay, calculate the overtime rate of pay. $ d) What is Gabriel's gross pay for a pay period in which he worked 13 hours overtime at double regular pay? $
- Carl is paid an hourly rate of $12.65. What is his annual gross pay if he works 25 hours per week? $316.75Juan earns the basic salary of P44,000 a month. His daily compensation rate is P2,000. For the current month, Juan availed a total 3-day vacation leave with pay. Of the basic salary, how much should be reported as the salary of Juan for the current month? P50,000P44,000P38,000P22,000Donny is employed by ABC Limited. His normal working week is 46 hours (Monday to Friday). The number of hours worked by Donny for a week in March 2021 is: Sunday: 4 hours Monday: 10 hours Tuesday: 11 hours Wednesday: 9 hours Thursday: 11 hours Friday: 10 hours Saturday: 4 hours Additional information: 1. Donny is remunerated as follows: Normal wage rate R110 per hour Overtime (Monday to Saturday) 1.5 times the normal rate Overtime (Sunday) Double the normal rate 2. Pension fund is calculated on normal pay as follows: Employee's deduction 7.5% Employer's contribution 9% 3. Medical aid fund: Employee's deduction R1 200 per month Employer's contribution R1 200 per month 4. Income tax is calculated at 20% of the taxable income (i.e. gross salary less pension deduction). Donny worked hours overtime for the week in March for which he will be paid 1.5 times the normal rate. A. none of the above В. 9 O C. 7 O D. 4
- Donny is employed by ABC Limited. His normal working week is 46 hours (Monday to Friday). The number of hours worked by Donny for a week in March 2021 is: Sunday: 4 hours Monday: 10 hours Tuesday: 11 hours Wednesday: 9 hours Thursday: 11 hours Friday: 10 hours Saturday: 4 hours Additional information: 1. Donny is remunerated as follows: Normal wage rate R110 per hour Overtime (Monday to Saturday) 1.5 times the normal rate Overtime (Sunday) Double the normal rate 2. Pension fund is calculated on normal pay as follows: Employee's deduction 7.5% Employer's contribution 9% 3. Medical aid fund: Employee's deduction R1 200 per month Employer's contribution R1 200 per month 4. Income tax is calculated at 20% of the taxable income (i.e. gross salary less pension deduction). The total labour cost to ABC Limited in respect of Donny for the week in March 2021 is O A. R8775.4 B. R7 755 O C. none of the above O D. R8 320How would I calculate holiday, regular and overtime for an exempt employee? EX: Chinson worked 88 hours, is exempt and is paid semi-monthly. He has 16 holiday hours. He earns 48,000 a year with commission (this commission is 2,325.00) For the pay period of 11/16 to 11/30 what would his regular and overtime hours be in the payroll register along with holiday pay? Gross earnings?BI WEEKLY Molly is a salaried employee; she makes $42,000 a year and is paid bi-weekly. What is her gross pay? $42,000/26=$1,615.38
