**Exercise**Consider the two ads for an accounting clerk. If you worked 40 hours per week for 50 weeks, how much would each company pay per hour?**Advertisements Details**1. **Ad 1** - Position: Accounting Clerk - Salary: $18,500 - Requirements/Benefits: Fast-paced CRT, type 60 wpm, benefits - Contact Information: 865-9281, 5640 Southwyck2. **Ad 2** - Position: Accounting Clerk - Salary: $16,500 per year - Benefits: "Great company" benefits, full benefits - Additional Info: Interviewing now - Contact Information: Call Polly/Sue at 243-2222**Task**Calculate the hourly wage for each position based on a 40-hour work week over 50 weeks.

Given information, 40 hours per week for 50 weeks Number of hours worked in a year =40hours ×…

Answered: 6. Consider the two ads for an…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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1. (40) Sydney's Spokes is a local bike shop. Sydney has 5 employees. The business does quite well; a favorite in the community. Using the information provided below, prepare the weekly payroll for Sydney's Spokes. Name Bonnie Abbie Rosie Gracie Lola Hourly Wage $8 $8 $8 $9 $12 # Hours 40 42 40 45 48 IRA Amount None None None None $100 Health Ins None None None $50 $50 Tax W'held $40 $42 $40 $60 $80 Sydney pays 150% for hours worked beyond 40 in a week Sydney matches any IRA and Health Insurance payments made by her employees. The Social Security/Medicare rate is 7.65%. The State Unemployment Tax rate is 1.5%. The Federal Unemployment Tax rate is 0.5% She withholds amounts for federal income tax, as shown above. a. What is the total amount earned by the employees (gross pay)? b. How much will she pay to her employees (net pay)? c. What is the total cost of the payroll to her business?
O d. debit to Manufacturing Overhead of OMR 95,000 O e. credit to Work in Process of OMR 71,250 Ali is currently working as a human resource manager for a company and earns a good salary. He is planning to pursue a Master of Business Administration (MBA) degree. He recently received an offer from University A, which included the cost of tuition fees. If Ali decided to go for the MBA study, his company would stop paying his salary. At the same time, if Ali completed his MBA degree, he would earn a higher salary than his current one. Furthermore, Ali has recently purchased an apartment in the city and moved in. For Ali, when considering whether or not to go for the MBA study, the cost of tuition fees is referred to as: O a. Incrementairevenue. O b. None of the given answers. O C. Incremental cost. O d. Opportunity cost. O e. Sunk cost. NEXT PAGE AGE MacBook Air
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A. $1,120 B. $2,240 C. $2,426.67 D. $4,853.33
Calculating Gross Pay based on Wage with Overtime Step 1Determine regular hours Should be 40 unless otherwise Step 2: overtime Hours workedovertime Step 3: Calculate pay Regular hours 40 Step 4Calculate overtime Overtime hours Overtime hours 1.5 = pay Step 5: Add regular pay to Overtime payRegular pays Tyler work 53 hours last week. His regular pay rate is 515 / h * our What is his gross pay? Step 1: 40 hours Step 2: 53.4 = 13hours Step 3: 40*515=\$600 Step 4: 13 * 515 * 1.5 = 5292.5 Step 5: 5600+\$292.50=\$892.50 im not sure if I'm right on the first problem the writing above is a example
Suppose you have a job that pays a monthly salary of (g) $_3,900____.Unfortunately, recent events have significantly reduced your company’s cash flow.Your employer says that everyone needs to take a 6.5% pay cut or the company mayhave to close.(a) When the 6.5% pay cut is applied to your original monthly salary, by how many dollars will your monthly pay decrease? Round your result to the nearest cent. (4) (b) What will your reduced monthly salary be after the 6.5% decrease is applied to your original monthly salary? Round your result to the nearest cent. (3) Your employer promises that when business returns to normal, everyone will get a6.5% pay raise to bring their pay back to their original levels.(c) When the 6.5% pay raise is applied to your reduced monthly salary, by how many dollars will your monthly pay increase? Round your result to the nearest cent. (4) (d) What will your new increased monthly salary be after the 6.5% increase is applied to your reduced monthly salary? Round…

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