nal Storage employs 88 workers with a s monthly payroll of $133,000. Fringe efits are 8.6% of payroll for a profit- g plan and $9.23 per employee for life insurance. ercent of payroll is the total cost of penefits? Round your answer to the E tenth of a percent.

nal Storage employs 88 workers with a s monthly payroll of $133,000. Fringe efits are 8.6% of payroll for a profit- g plan and $9.23 per employee for life insurance. ercent of payroll is the total cost of penefits? Round your answer to the E tenth of a percent.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: porated's contribution margin ratio is 61% and its fixed monthly expenses are $45,500. Assuming that…

A: Net operating income refers to the concept of evaluating the expected sum of money arising out of an…

Q: Muscat Pharmacy had sales of OMR 1,000,000 (50,000 units) for 2019. The variable expenses were OMR…

A: Contribution- When the total sales value of the entity exceeds the variable expenses, then the…

Q: Total sales for Appliance Center were $205,000 for the week. These sales included a 6% sales tax.…

A: Actual sales = Total sales / (1 + Sales tax rate)

Q: Bruin Corporation's contribution margin ratio is 75% and its fixed monthly expenses are $45,000.…

A: Description: Contribution margin amount = Sales amount x Contribution margin ratio. Multiplying…

Q: Muscat Pharmacy had sales of OMR 1,000,000 (50,000 units) for 2019. The variable expenses were OMR…

A: Contribution margin measures the growth of the company based on a particular good or service.

Q: A worker earns $30,000 per month on the average and produces 30 units per day. Accordingly, the…

A: Effective labor cost per unit is the per unit cost incurred by labor in the production of a single…

Q: KRIS Ltd forecasts the 2019 sale of its single product, COS, to 200,000 units at $120 per unit with…

A: Breakeven is the point where total expenses are equal to total revenue. at this point, there is no…

Q: If a company pays its sales force the following for its sales in the last two years, what is the…

A: To calculate , annual fixed cost per sales dollar, we have to take Difference of Sales and subtract…

Q: Finch Company began its operations on March 31 of the current year. Finch has the following…

A: Introduction: Cash payments are made to the provider of services or goods by the recipient in the…

Q: Creswell Corporation's fixed monthly expenses are $25,500 and its contribution margin ratio is 68%.…

A: Cost volume profit analysis is the technique used by management for decision-making. The methods…

Q: In evaluating a proposal to extend credit , new customers will generate an average of $11000 per day…

A: Net present value (NPV) is a capital budgeting technique which helps a management in evaluating the…

Q: A company sells a product for $6.7 per unit. Fixed expenses total $37.53k per month and variable…

A: Profit per unit = Sales x 15.52$ = $6.7 per unit x 15.52% = $1.03984 Contribution margin per unit…

Q: The following data is available for Coronado Repair Shop for 2019: Repair technicians’ wages…

A: Overhead are the indirect costs that are related to either manufacturing or selling of products. It…

Q: In 2023, Dolan Distributors had sales of $914,000, fixed costs of $139,200, variable costs of…

A: The objective of the question is to calculate the contribution margin ratio for Dolan Distributors…

Q: JAO Company sells a product for P6 per unit. Fixed expenses total P37,500 per month and variable…

A: Desired profit per unit = sales x 15% = P6 x 15% = P0.90 per unit Contribution margin per unit =…

Q: Your Corporation's fixed monthly expenses are $18,500 and its contribution margin ratio is 62%.…

A: Contribution margin is calculated as excess of sales price over variable expenses. Net income is…

Q: An answering machine cost a dealer $220.00 less 31.5%, 7%. It is regularly priced at $212.00. The…

A: Answering machine cost = $220 Less- Discount @ 31.50% = $69.30 Machine cost after discount = $220…

Q: Jilk Inc's contribution margin ratio is 619% and its fixed monthly expenses are $47,500. Assuming…

A: Formula : Net operating income = Contribution margin - Fixed expenses Deduction of fixed expenses…

Q: A company sells one product and its contribution margin ratio is 20%. The company provides the…

A: The contribution margin is calculated as difference between sales and variable costs. The net income…

Q: Last month Forbes Company had a $35,119 profit on sales of $145,998. Fixed costs are $77,167 a…

A: Contribution Margin Ratio = 77%

Q: Muscat Pharmacy had sales of OMR 1,000,000 (50,000 units) for 2019. The variable expenses were OMR…

A: Contribution margin ratio = Contribution margin / Total sales x 100 Where, Contribution margin…

Q: A health insurance policy costs $275/month and pays $100,000 for a major illness. The probability…

A: The expected net profit is the difference between the amount received by the company and the amount…

Q: Assume a company sold 28,000 units last year and ncrease the sales commission by $2 per unit. What…

A: Units sold means the number of goods sold by the entity in the market during a particular period.…

Q: .uper - kes lach in Company plans to sell 19,000 T-shirts at dile the Loming year - Poduct costs…

A: Variable Product Cost = Direct Materials + Direct Labor + Variable OH Total Variable Cost = Direct…

Q: Jessup Company expects to incur manufacturing overhead costs of $20,000 each month during the year…

A: Sales price = Cost per unit + Profit per unit Cost = Direct material + Direct labor + Manufacturing…

Q: The hotel has 85 rooms, an average daily rate of $88, and a per occupied room cost of $12. Its fixed…

A: Given, Total rooms = 85 Average daily rate = $88 Variable cost = Cost per room occupied = $12…

Q: Last month Bryn Company had a $45,057 profit on sales of $296,632. Fixed costs are $72,308 a month.…

A: Contribution Margin = Fixed Costs + Net Income. Contribution Margin Ratio = (Fixed Costs + Net…

Q: Clear All Cash 450 Fees Earned 450 Clogin al ontrion

A: Journal entry is a primary entry that records the financial transactions initially.

Q: Tumble company sells coats for $149.17 each. The variable costs per coat are $63.95 and the fixed…

A: Data given: Selling price per unit= $149.17 Variable cost per unit=$63.95 Fixed cost per…

Q: Shalom Company had sales of P1,500,000 for the first quarter of 2022. During the period, the company…

A: Solution: Fixed Cost and the Variable Cost Fixed variable Cost of Goods sold…

Q: The overhead expenses for a pharmacy was calculated to be $2,128,000.00. If the pharmacy’s income is…

A: A ratio that helps to evaluate how much portions of the sales revenue of a company turns in the…

Q: Given the following for Silver Company in 2019: revenues P5,300,000, manufacturing costs P2,200,000…

A: Contribution margin = Revenues - Variable cost

Q: Pantene Paints has annual sales of $2,250,000 with variable expenses of 60 percent of sales and…

A: Lets understand the basics.Contribution margin is a margin generated on sales. It is derived by…

Q: Your Corporation’s contribution margin ratio is 29% and it’s fixed monthly expenses are $17,000. If…

A: Break-even analysis is a technique used widely by production management. It helps to determine the…

Q: The contribution margin ratio of Thronson Corporation's only product is 69%. The company's monthly…

A: Reference: Break-Even And Target Income - principlesofaccounting.com. (2021, October 7).…

Q: Based on the information given, prepare a cash budget for the months of January, February and March.

A: Cash Budget is a summary estimation of cashflows during a specified interval. It helps in…

Question

nal Storage employs 88 workers with a
s monthly payroll of $133,000. Fringe
efits are 8.6% of payroll for a profit-
g plan and $9.23 per employee for life
insurance.
ercent of payroll is the total cost of
penefits? Round your answer to the
E tenth of a percent.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

The monthly electricity bill for Company XYZ comprises of two components: a flat subscription fee of $300 per month and constant rate per kilo watt of $12. Assume that Company XYZ consumed 500 kilo watts during the month of December, how much the total electricity bill, in ($) value, for the month of December would be? Select one: O a. 6,300 O b. 800 O c. None of the given answers O d. 6,000 O e. 500 Next page W Tn
Exercise 3-11 (Algo) ROI analysis using the DuPont model LO 3 Required: a. Firm A has a margin of 13%, sales of $510,000, and ROI of 18%. Calculate the firm's average total assets. b. Firm B has net income of $72,000, turnover of 1.50, and average total assets of $880,000. Calculate the firm's sales, margin, and ROI. c. Firm C has net income of $136,000, turnover of 1.91, and ROI of 23.20%. Calculate the firm's margin, sales, and average total assets. O Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B Required C Firm C has net income of $136,000, turnover of 1.91, and ROI of 23.20%. Calculate the firm's margin, sales, and average total assets. (Round "Margin" answer to 1 decimal place and use the rounded answer for the subsequent computations.) Margin 12.1 O % Sales $ 1,119,655 X Average total assets 2$ 586,207 X
How do I compute the breakeven point in tickets and in sale dollars? Thrills sells tickets at $50 per person as a one day entrance fee. Variable costs are $28 per person, and fixed costs are $166,500 per month
In 2018, Downy Co presented total variable cost at $687.50; total fixed cost at $6,750,000; sales price per unit $1,250; sold 20,000 units; tax rate at 30%. What is the required sales amount to equal 20A net income after tax if the company is the entity is to spend $562,500 for the next month?
Creswell Corporation's fixed monthly expenses are $26,000 and Its contribution margin ratio is 60%. Assuming that the fixed monthly expenses do not change, what is the best estimate of the company's net operating Income in a month when sales are $84,000? Multiple Choice O $7,600 $50,400 $24.400 $58.000
Muscat Pharmacy had sales of OMR 1,000,000 (50,000 units) for -2019. The variable expenses were OMR 600,000 and fixed expenses were OMR 300,000. What is the contribution margin per unit? Select one: a. None of the answers are correct O b. 40% O c. 8 O d. 4 e. 400,000
Subject: Finance
Al Nama Garment Manufacturing Company was expecting to earn a profit of 45% on Total Cost. You are required to identify from the cost sheet whether the company has earned the profit as per their expectations or not. If not find out the difference in profit which the company has earned and the company has expected.
Bolding Inc's contribution margin ratio is 64% and its fixed monthly expenses are $44,500. Assuming that the fixed monthly expenses do not change, what is the best estimate of the company's net operating income in a month when sales are $131,000?
The following annual information is for Dexter Corporation: Product A Revenue per unit: $20.00 Variable cost per unit: $15.00 Total fixed costs: $100,000 How many units does the company have to sell to achieve an after tax income of $75,000 if the income tax rate is 25%?
If the company’s net profit is OMR 20,000 and the net profit ratio is 20% then the sales would be_______.
Salt Corporation's contribution margin ratio is 75% and its fixed monthly expenses are $55,000. Assume that the company's sales for May are expected to be $114,000. Required: Estimate the company's net operating income for May, assuming that the fixed monthly expenses do not change. Net operating income