The SUTA rate for Worldwide Industries is 5.4% and its FUTA rate is 6.2% less the 5.4% SUTA credit. If its weekly payroll is $52,174.00 and none was for payments to employees in excess of the $7,000.00 wage base, then what are the total FUTA and SUTA taxes for the payroll?
A) $3,233.11
B) $2,764.65
C) $3234.79
D) $6,052.19
C
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Last year Mason Inc. had a total assets turnover of 1.33 and an equity multiplier of 1.75. Its sales were $195,000 and its net income was $10,549. The CFO believes that the company could have operated more efficiently, lowered its costs, and increased its net income by $5,250 without changing its sales, assets, or capital structure. Had it cut costs and increased its net income in this amount, by how much would the ROE have changed?
A. 5.66% B. 5.95% C. 6.27% D. 6.58% E. 6.91%
Plum Corporation issues $400,000 of 7 percent, five-year bonds on January 1, 20x5, and sells them on the same date for their face value. The bond indenture states that interest is to be paid on January 1 and July 1 of each year. The entry to record the issuance includes
A) a credit to Cash. B) a credit to Bonds Payable. C) a credit to Interest Expense. D) All of these choices.
The standard poster panel is more commonly know as the stock reach bulletin.
Answer the following statement true (T) or false (F)
Testor Products uses a job-order costing system with a predetermined overhead rate based on machine-hours. The company closes out any underapplied or overapplied overhead to Cost of Goods Sold.Required:If overhead is overapplied, what adjustment does the company make to Cost of Goods Sold? Is Cost of Goods Sold increased or decreased? Why?
What will be an ideal response?