Choose the correct word or words in parentheses. The yoga instructor wore (lose, loose) clothing
loose
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Margo Dhang is paid $8 per hour plus time-and-one-half for hours over 40 for a given week. During the week of January 21, Margo worked 46 hours. Social security taxes are 6.2 percent, Medicare taxes are 1.45 percent, $50 is withheld for federal income
taxes, $12 is withheld for state income taxes, and $15 is withheld for medical insurance. In addition, Margo's employer must pay Social Security taxes of 6.2 percent, Medicare taxes of 1.45 percent, state unemployment taxes of 5.4 percent, and federal unemployment taxes of 0.8 percent. Calculate (a) Margo's gross earnings, (b) Margo's take-home pay, (c) the employer's payroll taxes expense, and (d) the total cost of employing Margo for the week. Round all amounts to the nearest penny.
A company produces 1000 packages of dog treats per month. The sales price is $6 per pack. Variable cost is $1.50 per unit, and fixed costs are $1700 per month. Management is considering adding a vitamin supplement to improve the value of the product. The variable cost will increase from $1.50 to $1.80 per unit, and fixed costs will increase by 10%. At what sales price for the new product will the two alternatives (sell as is or process further) produce the same operating income? (Round your answer to the nearest cent.)
A) $3.67 B) $6.47 C) $2.80 D) $6.00
Under a perpetual inventory system, when a shortage is discovered
A) Merchandise Inventory is debited B) Cost of Merchandise Sold is credited C) Inventory Shortages is credited D) Merchandise Inventory is credited
One method of assigning overhead is by using a predetrminated overhead rate
Indicate whether the statement is true or false