The required deduction for Social Security is 6.2% OASDI (Old Age Survivors and Disability Insurance) of wages earned, to a maximum of $97,500 and 1.45% HI (Hospital Insurance, commonly known as "Medicare") for all earnings. Jamie Albertson earns a monthly salary of $8,500 . Compute the amount deducted for Social Security and Medicare from Albertson's December paycheck
$371.25 (97,500 - 93,500 = 4,000 . 4,00 . × 0.062 = 248) + (8,500 × 0.0145 = 123.25)
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Amway, Mary Kay, and Tupperware use a multilevel or network marketing distribution system
Indicate whether the statement is true or false
Crossland Corporation reported sales on its income statement of $454,000. On the statement of cash flows, which used the direct method, sales adjusted to a cash basis were $483,500. Crossland Corporation reported the following account balances on its balance sheet for the year: Ending BalanceBeginning BalanceAccounts receivable$39,500? ? Prepaid expenses$15,900? $12,900? Inventory$21,800? $23,800? Based on this information, the beginning balance in accounts receivable was:
A. $69,000 B. $29,500 C. $59,000 D. $39,500
Refer to Table 5-2. If Jane sold $25,000 worth of dresses last month, she would have a
A) loss of approximately $6,000. B) loss of approximately $5,540. C) profit of approximately $5,540. D) profit of approximately $6,000. E) Cannot tell with information provided.
Not only should a project manager be able to address issues related to how the system works, but he must be ________ savvy
A) marketing B) design C) politically D) financially