FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
Bartleby Related Questions Icon

Related questions

Question

    
​​​​A.  $2,543.33
     
​​​​B.  $35
     
​​​C.  $2,613.33
     
​​​​​D.  $2,578.33

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 fully
paid 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 a
retirement 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.
17. What is the MONTHLY “NET" INCOME for the COORDINATOR position?
expand button
Transcribed Image Text: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 fully paid 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 a retirement 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. 17. What is the MONTHLY “NET" INCOME for the COORDINATOR position?
Expert Solution
Check Mark
Knowledge Booster
Background pattern image
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
FINANCIAL ACCOUNTING
Accounting
ISBN:9781259964947
Author:Libby
Publisher:MCG
Text book image
Accounting
Accounting
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:Cengage Learning,
Text book image
Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,
Text book image
Horngren's Cost Accounting: A Managerial Emphasis...
Accounting
ISBN:9780134475585
Author:Srikant M. Datar, Madhav V. Rajan
Publisher:PEARSON
Text book image
Intermediate Accounting
Accounting
ISBN:9781259722660
Author:J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:McGraw-Hill Education
Text book image
Financial and Managerial Accounting
Accounting
ISBN:9781259726705
Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:McGraw-Hill Education