Superior Cleaning Services, LLC, provides cleaning services for office buildings. The firmhas 10 members in the LLC, which did not change between 20Y8 and 20Y9. During 20Y9,the business terminated two commercial contracts. The following revenue and employeeinformation is provided:20Y920Υ8Revenues (in thousands)$16,200 $18,400Number of employees (excluding members)150200For 20Y9 and 20Y8, determine the revenue per employee (excluding members).a.b. Interpret the trend between the two years.

Requirement a:Determine the revenue per employee for the year 20Y9 and 20Y8.

Answered: Superior Cleaning Services, LLC,…

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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Mest Company has nine employees. FICA Social Security taxes are 6.2% of the first $137,700 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to each employee. Cumulative pay for the current year for each of its employees follows. Employee Cumulative Pay Employee Cumulative Pay Employee Cumulative Pay Ken S $ 6,200 Julie W $ 144,500 Christina S $ 140,400 Tim V 41,400 Michael M 107,900 Kitty O 37,900 Steve S 88,000 Zach R 137,700 John W 5,000 For the company, compute each total for FICA Social Security taxes, FICA Medicare taxes, FUTA taxes, and SUTA taxes. Hint: Remember to include in those totals any employee share of taxes that the company must collect.

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