Chapter 1, Problem 10P

Samantha works as a sales assistant. She receives a weekly wage of $280 plus a commission of $0.12 per dollar of goods sold. During one week, Samantha sold goods worth $2,100. The following deductions apply to her gross earnings: pension contribution of 6.5% of gross earnings and income tax of $55. Calculate Samantha's net earnings for the week.

Solve this financial accounting problem

Fennel Industries had 6,420 actual direct labor hours at an actual rate of $15.60 per hour. Original production had been budgeted for 950 units, but only 880 units were actually produced. Labor standards were 7.2 hours per completed unit at a standard rate of $16.10 per hour. What is the direct labor rate variance?

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Zara Freight Co. has a current stock price of $36. Over the past year, the company reported net income of $4,800,000, total equity of $19,200,000, sales of $33,800,000, and has 3.8 million shares of stock outstanding. What is the price-sales ratio?

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General Accounting

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