FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Carl is paid an hourly rate of $17.85. What is his weekly gross pay he works 38 hours per week ?
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- Thomas Martin receives an hourly wage rate of $17, with time-and-a-half pay for all hours worked in excess of 40 hours during a week. Payroll data for the current week are as follows: hours worked, 46; federal income tax withheld, $333; social security tax rate, 6.0%; and Medicare tax rate, 1.5%. What is the gross pay for Martin?arrow_forwardRhonda works 20 hours per week and earns $7.35 per hour. How much more would she need to earn per hour to increase her gross pay by $25 per weekarrow_forwardCharles earns an annual salary of $72,100 paid biweekly based on a regular workweek of 36.25 hours. His company generously pays all overtime at twice his regular wage. If Charles worked 85.5 hours over the course of two weeks, what are his gross earnings? Question Two:arrow_forward
- 6. Compute gross wages due to each employee under federal wage-hour law: а. Nona is a salaried employee and is paid $900 for a 32-hour workweek. One week, she works 40 hours. b. Sal is normally paid $600 for a 40-hour workweek. One week, he works 45 hours.arrow_forwardA mason works 6 days in a week and every day he works 11hrs. A base wage of OMR 18.25per hour is paid for all straight time work 5 days in a week and each day 8 hours. An overtime rate of one time and one half is paid for all hours over 8 hours per day, Sunday through Thursday, and double time is paid for all Saturday work. The social security tax is 6.65% and the unemployment tax is 3.5% of actual wages. The rate for worker's compensation insurance is OMR14.5 per OMR100 of base wage. Calculate the average hourly cost to hire the masonarrow_forwardCarol has two job offers.One pays $655 per week, and the other pays $2,800 per month. Which is the better offer?arrow_forward
- Abdul works full-time in a bookstore. He earns a take-home salary of $580 a week. His expenses are $770 a month for rent and utilities, $41 a month for his cell phone, $80 a week for groceries, and $150 every two weeks for miscellaneous expenses. How much can Abdul save each month?arrow_forwardMr Smith's annual salary is $45,000. His regular workweek consists of four 10-hour workdays. He is eligible for overtime at one and a half times worked in excess of 10 hours per day or 40 hours per week. Determine his gross earnings in a pay period if he is paid semimonthly, if he is paid biweekly, if he works 6 hours of overtime in a biweekly pay period.arrow_forward51 S. Wall receives a yearly salary of $78737. She is paid bi-weekly and her regular workweek is 37.5 hours. What is the gross pay for a pay period in which she works 28 hours overtime at time and one-half regular pay? Enter with 2 decimals, no commas and no $ signs.arrow_forward
- A. Belowis the Statement of Firancial Position of QM General Merchandise: Increase (Decrease) 2019 2020 Percentage P 192,375 937,508 152,618 P1,282,500 P1,392,750 P 265,500 968,500 159,750 Curent Assets Property, Plant, and Equipment Other Assets Total Assets Liabilities |Total Current Liabilities Long-term debt Owner's Capit al Total Liabilities and Equity P 220,590 491,198 570,713 P1,282,500 P1,392,750 P 225,450 460,250 706,950 Requirements: Prepare a horizontal aralysis for QM General Merchandise.arrow_forwardPeter Greeda's regular hourly wage rate is $13, and he receives 1.5 times his normal rate for hours worked in excess of 40. During a March pay period, Peter worked 47 hours. Peter's federal income tax withholding is $80, and he has no voluntary deductions. Compute Peter's gross earnings for the pay period. Round your answer to 2 decimal places.arrow_forward1. A. Luna is a sales agent. His official working hours is 8 hours a day, with a monthly salary of P33,000 (22 working days). How much is his hourly rate?arrow_forward
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