A. $3,754.05 B. $3,768.61 C. $4,775.68 D. $1,099.28 Fred is considering three job offers in advertising.A full-time position as a coordinator that pays a salary of $40,000 per year.• A full-time position as a designer that pays an hourly wage of $28. The job assumes five 8-hour days per week.• A sales representative that pays a 5% commission. Sales reps typically sell an average of $100,000 per month in advertising.The following are the specifics about the benefits of the job opportunities:• The U.S. government will deduct Social Security (6.2%) and Medicare (1.45%).• Fred will deduct 15% of Gross Income to cover Federal Income Tax.Fred does not live in a state with State Income Tax.Fred is planning on taking two weeks of vacation and has typically been sick 3 days per year.• The Coordinator job includes two weeks of paid vacation and five paid sick days per year, paid health insurance, life insurance costing $35 per month, and a fullypaid retirement plan.• The Designer job includes five paid vacation days and three paid sick days per year, paid health insurance, life insurance costing $35 per month, and aretirement plan that costs 3% of after tax income.• The Sales job has no paid vacation or sick days, paid health and life insurance, and a retirement plan that costs $350 per month.15. What is the AFTER-TAX MONTHLY INCOME for the DESIGNER position?

Name: A. $3,754.05 B. $3,768.61 C. $4,775.68
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Description: A. $3,754.05 B. $3,768.61 C. $4,775.68 D. $1,099.28 Fred is considering three job offers in advertising.A full-time position as a coordinator that pays a salary of $40,000 per year.• A full-time position as a designer

The after tax income of an individual is calculated by deducting the paid taxes from the income for…

Answered: $4,775.68

Business

Accounting

$4,775.68

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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Compute the 2023 tax liability and the marginal and average tax rates for the following taxpayers. Click here to access the 2023 tax rate schedule. If required, round the tax liability to the nearest dollar. When required, round the average rates to four decimal places before converting to a percentage (i.e., .67073 would be rounded to .6707 and entered as 67.07%). a. Chandler, who files as a single taxpayer, has taxable income of $167,400. Tax liability: Marginal rate: Average rate: Marginal rate: % b. Lazare, who files as a head of household, has taxable income of $67,200. Tax liability: Average rate: % % %
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Puvo, Incorporated, manufactures a single product in which variable manufacturing overhead is assigned on the basis of standard direct labor-hours. The company uses a standard cost system and has established the following standards for one unit of product Standard Quantity 7.1 pounds 0.5 hours Direct materials Direct labor Variable manufacturing overhead During March, the following activity was recorded by the company: 0.5 hours Standard Price or Rate $.90 per pound $ 46.50 per hour $9.80 per hour . During March, 1,220 direct labor-hours were worked at a rate of $43.50 per hour. • Variable manufacturing overhead costs during March totaled $15,361. Standard Cost $6.39 $ 23.25 • The company produced 3,700 units during the month. • A total of 20,700 pounds of material were purchased at a cost of $14,880. . There was no beginning inventory of materials on hand to start the month; at the end of the month, 4,920 pounds of material remained in the warehouse. The direct materials purchases…
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