National Storage employs 88 workers with a gross monthly payroll of $139,000. Fringe benefits are 8.2% of payroll for a profit sharing plan and $9.23 per employee for life insurance. What percent of payroll is the total cost of fringe benefits? Round your answer to the nearest tenth of a percent.
Q: Gayne Corporation's contribution margin ratio is 12% and its fixed monthly expenses are $84,000. If…
A: Net operating Income= (Sales- Variable cost)-Fixed expenses = Contribution- Fixed expenses…
Q: The portion of the weekly payroll that should be charged to factory overhead is?
A: Piece rate incentive system is a system where the worker is paid based on the units he/she produced.…
Q: A worker earns $30,000 per month on the average and produces 30 units per day. Accordingly, the…
A: Effective labor cost per unit is the per unit cost incurred by labor in the production of a single…
Q: Bear Island Ltd has a weekly payroll of $350 000. The employees receive entitlements to 3 weeks’…
A: Here in this question we are required to make entry for sick leave expense entitlement. When any…
Q: A company has 100 employees, each working 40 hours per week and earning $16 an hour. Although the…
A: Payroll Tax: A payroll tax is a percentage deducted from an employee's pay by an employer This tax…
Q: Stark Company has five employees. Employees paid by the hour earn $10 per hour for the regular…
A: Payroll refers to the payment to be made by the employer to the employees for the services rendered…
Q: mpute and record workers' compensation insurance premiums for Fairlawn Manufac The firm estimates…
A: The amount due to be paid to creditors or employee is recorded as liabilities in the balance sheet.
Q: Shady Rest Nursing Home has 1
A: The total cost of production of a good comprises of the total fixed cost of production and the total…
Q: Whartside Mahutacturing estimates that its office employees will earn $56,000 next year and its…
A: Estimated premiums is a kind of worker's compensation insurance which depends on the various…
Q: Bear Island ltd has a weekly payroll of $450,000. The employees receive entitlements to 2 weeks’…
A: Payroll is the remuneration the firm has to pay for a fixed term or on a particular day to its…
Q: The combined amount of the accruals for bonus, vacation, and holiday pay in the weekly payroll would…
A: 1) Calculate bonus: Bonus: $2,000 / 50 weeks = $40 per week 2) Compute vacation pay: Vacation pay:…
Q: If Romeo's Racket Ball business has sales for the month of 10,000 racketballs and a racketball sells…
A: To derive accounting profit, all the expenses that are directly a part of company's operations are…
Q: A company has 100 employees, each working 40 hours per week and earning $16 an hour. Although the…
A: Workings:
Q: The normal wage of Nomfundo is R200 per ho and her normal working week is 40 hours. The standard…
A: a) Wage Rate R 200 per hour weekly working hours 40 Std Production per hour 100 Std…
Q: Management is considering a change in the sales force compensation plan. Currently each of the…
A: CVP Analysis stands for Cost-Volume Profit analysis. Under CVP analysis, we analyse the impact of…
Q: Determine the gross pay for each employee listed below. When necessary, round intermediate…
A:
Q: A health insurance policy costs $275/month and pays $100,000 for a major illness. The probability…
A: The expected net profit is the difference between the amount received by the company and the amount…
Q: Sharp Enterprises operates its factory on a two-shift basis and pays a later shift differential of…
A: Given: Sharp Enterprises operates its factory on a two-shift basis Regular Shift payment = P65…
Q: Kenz Limited employs its staff on a five-day working week. The weekly salaries is $15,000 and…
A: The reporting period is typically either for a month, quarter, or year. Organizations use the same…
Q: Seaside Hotels employs 64 workers with a gross weekly payroll of $43,536.00. Fringe benefits are…
A: Fringe benefits are benefits that are paid to employees in additional to their normal wages or…
Q: Cadre, Inc., sells a single product with a selling price of $120 and variable costs per unit of $90.…
A: As posted multiple sub parts we are answering only first three sub parts kindly repost the…
Q: Data relating to labor costs is given below. Manufacturing labor is paid 30 TL per hour and…
A: Wages: It is the payment received by the labor in exchange for his services. The wage depends on…
Q: 11. Senen, a factory laborer earns P18,000 per month, and the company pays one month salary as a…
A: Senen's gross payroll will include his yearly salary, salary received for vacation leave, bonus…
Q: Repair Shop Co. provides electronic repairs and has the following budget for next year: Repair…
A: The time rate is calculated on the basis of the number of hours used for repairs. Loading charge is…
Q: To improve productivity, ST. MICHAEL Corp. instituted a bonus plan where employees are paid 75% of…
A: Since you have asked multiple questions, we will solve the first question for you. If you want a…
Q: Villanueva Company is headed by Ms. Marielle May Villanueva, President, and she is receiving…
A: Answer: The take home pay every end of the month is the salary that is received for the salary of…
Q: National Storage employs 88 workers with a gross monthly payroll of $137,000. Fringe benefits are…
A: Solution- According to the given conditionWe have to find the percent of payroll is the total cost…
Q: Dunkin Donuts operates in two shifts, paying a late-shift premium of 10 percent and an overtime…
A: Overtime premium: It is the wages paid over and above the normal wages to the workers in the form of…
Q: Portable Power Inc. buys portable generators for $470 and sells them for $750. They pay a sales…
A: A contribution margin is an excess value of sales revenue over the variable cost. It is also an…
Q: Binford Corporation's contribution margin ratio is 58%, and its fixed monthly expenses are $94,000.…
A: CVP analysis is considered a decision-making tool that helps management to make strategies and take…
Q: what is the estimated liability for bonus?
A: Estimated Liability for Bonus is recorded by the entity on the basis of expected wages of the…
Q: Assume that total sales revenue for 2018 is projected to be $1,015,848. Assume also the following…
A: Expense Amount$ Cost Packaged (cans & bottles) 150000 variable cost Kegs 80000…
Q: National Storage employs 88 workers with a gross monthly payroll of $135,000. Fringe benefits are…
A: Total fringe benefit = 8.8%of payroll + ($9.21 * 88 workers )
Q: per employee for discount club memberships. What percent of payroll is the total cost of fringe…
A: A fringe benefit is any non wage payment or benefit offered to employees by their employers (for…
Q: XYZ Company employs 30 individuals. Eighteen employees
A: Mixed cost : In simple words, The word "mixed costs" in finance relates to costs and expenditures…
Q: nal Storage employs 88 workers with a s monthly payroll of $133,000. Fringe efits are 8.6% of…
A: As you posted multiple questions we are answering only one question. Kindly repost the unanswered…
Q: Determine the annual cost for the following employee. Last year the employee worked 2,300 hours and…
A: Annual cost of the employee includes payment of taxes and payment to employees.
Q: An employee works 48 hours in a week for a salary exempt of $1,925 per week. How much is this…
A: Hello, since the student has posted multiple requirements, we shall answer the first three alone.…
Q: Park Miischner own Times Buttons, which employs twenty-lour people. Par the employees, Arnold Bower,…
A: Here discuss about the benefits package which are available to the employees in the business entity…
Q: National Storage employs 88 workers with a gross monthly payroll of $131,000. Fringe benefits are…
A: Total fringe benefit =(Payroll * fringe benefit %) + (rate of life insurance * no. of worker)
Q: A sales supervisor whose monthly salary is ₱38,500.00 is paid 7% of his total sales and 3% of the…
A: Sales commission refers to the additional amount of compensation (or remuneration) that an sales…
Q: Kerr Manufacturing sells a single product with a selling price of S600 with variable costs per unit…
A: Contribution margin = Selling price - Variable Cost
Q: ABC Quezon Avenue, Inc. is a dealer of trucks and automobiles. ABC distributes annual bonuses to its…
A: Total bonus % = 3% to Vice president + 1% each to division managers = 3% + 1% x 3 = 6%
Q: Suppose you are the human resource manager for a cellular phone company with 700 employees. Top…
A: SOLUTION- FRINGE BENEFITS ARE THE ADDITIONAL BENEFITS OFFERED TO AN EMPLOYEE , ABOVE THE STATED…
Q: East Coast DVD employs 54 workers with a gross biweekly payroll of $98,126.00. Fringe benefits are…
A: In this question we need to compute the total cost of fringe benefits.
Q: Assume that total sales revenue for 2018 is projected to be $1,153,549. Assume also the following…
A: Computation of total cost Packaged cans and bottles + kegs + shrinkage + contract labor + direct…
Q: Artman Automotive in Nova Scotia employs four people. Their annual gross earnings are $40,800.00,…
A: Total annual assessment is the total assessable earnings multiplied by the premium rate. Total…
Q: Dainty Ltd has an average weekly payroll of $200 000. The employees are entitled to 2 weeks', non-…
A: The conceptual formula used:
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- National Storage employs 88 workers with a gross monthly payroll of $131,000. Fringe benefits are 8.6% of payroll for a profit-sharing plan and $9.23 per employee for life insurance. What percent of payroll is the total cost of fringe benefits? Round your answer to the nearest tenth of a percent.nal Storage employs 88 workers with a s monthly payroll of $133,000. Fringe efits are 8.6% of payroll for a profit- g plan and $9.23 per employee for life insurance. ercent of payroll is the total cost of penefits? Round your answer to the E tenth of a percent.Seaside Hotels employs 64 workers with a gross weekly payroll of $43,536.00. Fringe benefits are $34.33 per employee for dental insurance and $4.86 per employee for discount club memberships. What percent of payroll is the total cost of fringe benefits? (Round your answer to the nearest tenth of a percent.) A.1.4% B.4.4% C. 5.8% D.11.5%
- 15.Seaside Hotels employs 64 workers with a gross weekly payroll of $49,536.00. Fringe benefits are $34.33 per employee for dental insurance and $4.86 per employee for discount club memberships. What percent of payroll is the total cost of fringe benefits? (Round your answer to the nearest tenth of a percent.) 1.4% 3.7% 5.1% 10.1%Capital Construction employs 79 workers with a gross weekly payroll of $33,076.00. Fringe benefits are $32.98 per employee for dental insurance, $5.15 per employee for discount club membership and 6.6% of payroll for a pension plan. What is the total cost of fringe benefits? the options are: a. 2183.02 b. 2605.42 c. 3012.27 d. 5195.291.A paving company has 24 employees, 15 with gross earnings of $365 per week and nine with gross earnings of $395 per week. What is the total social security and Medicare tax (in $) the company must send to the Internal Revenue Service for the first quarter of the year? $ ______ 2.National Storage employs 88 workers with a gross monthly payroll of $131,000. Fringe benefits are 8.2% of payroll for a profit sharing plan and $9.23 per employee for life insurance. What percent of payroll is the total cost of fringe benefits? Round your answer to the nearest tenth of a percent. _____ %
- East Coast DVD employs 54 workers with a gross biweekly payroll of $98,126.00. Fringe benefits are $14.18 per employee for life insurance and 12.3% of payroll for a stock purchase plan. What is the total cost of fringe benefits? a) $3,208.80 b) $6,417.61 c) $12,835.22 d) $104,834.221.A paving company has 24 employees, 15 with gross earnings of $365 per week and nine with gross earnings of $395 per week. What is the total social security and Medicare tax (in $) the company must send to the Internal Revenue Service for the first quarter of the year? $ _______ 2.National Storage employs 88 workers with a gross monthly payroll of $131,000. Fringe benefits are 8.2% of payroll for a profit sharing plan and $9.23 per employee for life insurance. What percent of payroll is the total cost of fringe benefits? Round your answer to the nearest tenth of a percent. ______% 3.Marc Batchelor, a self-employed sales consultant, has estimated annual earnings of $307,000 this year. His social security tax rate is 12.4% up to the wage base, Medicare is 2.9%, and his federal income tax rate is 24%. How much estimated tax (in $) must Marc send to the IRS each quarter? $ ______An employee is entitled with monthly salary of TK. 50,000. The company has a policy to provide 10 % yearly increment. If the performance of the employee and organizational performance are both excellent, what would be the employee awards according to merit-based pay plan? Please consider the following table to calculate the total increment in that year.
- Compute and record workers' compensation insurance premiums for Fairlawn Manufacturing as follows: 1. The firm estimates that its office employees will earn $57,000 next year and its factory employees will earn $184,000. The firm pays the following rates for workers' compensation insurance: $0.50 per $100 of wages for the office employees and $4.00 per $100 of wages for the factory employees. Compute the estimated premiums for 20X1. In the general journal, record the payment of the estimated premium. Date the entry as January 12, 20X1. 2. On January 3, 20X2, an audit of the firm's payroll records for 20X1 showed that the firm had actually paid wages of $59,000 to its office employees and $187,000 to its factory employees. Compute the actual premium for the year and the balance due to the insurance company or the credit due to the firm. In the general journal, record the entry to adjust the Workers' Compensation Insurance Expense as of the end of 20X1. Date the entry December 31, 20X.…If a new full-time employee is paid $44,000 a year, and taxes and insurance add 24% of wages to the cost, what is the total cost of the employee to the company?An employee is paid a salary of $10,150 per month. If the FICA rate is 6.2% on the first $118,500 of earnings and the Medicare tax rate is 1.45% on all earnings, how much will be deducted from the employee’s monthly paycheck during the following months?