Damerly Company (a Utah employer) wants to give a holiday bonus check of $350 to each employee. Since it wants the check amount to be $350, it will need to gross-up the amount of the bonus. Calculate the withholding taxes and the gross amount of the bonus to be made to John Rolen if his cumulative earnings for the year are $46,910. Besides being subject to social security taxes and federal income tax (supplemental rate), a 5% Utah income tax must be withheld on supplemental payments.

Answers

Answer 1

Answer:

$350

Explanation:

Calculation for the withholding taxes and the gross amount of the bonus to be made to John Rolen if his cumulative

Social Security rate 6.20%

Medicare rate 1.45%

Federal Income tax 22.00%

State income tax 5.00%

Total tax percentage 34.65%

Calculation for the Required gross bonus

Required gross bonus =$350/(1-34.65%)

Required gross bonus=$350/1-0.3465

Required gross bonus=$350/0.6535

Required gross bonus=$535.57

Gross bonus amount $535.57

Federal Income tax withheld (117.82) ($535.57*22%)

OASDI tax withheld (33.20)

($535.57*6.2%)

HI tax withheld (7.76)

($535.57*1.45%)

Utah Income tax withheld (26.77)

($535.57*5%)

Take home bonus check $350.00

Therefore the withholding taxes and the gross amount of the bonus to be made to John Rolen if his cumulative will be $350.00


Related Questions

Which is NOT a career cluster?
A.
Agriculture, food and natural resources
B.
Human services
C.
Health sciences
D.
Business, management, and administration

Answers

Answer:

All are career clusters

Explanation:

1. Agriculture, food, and natural resources

The agriculture, food, and natural resources cluster encompass everything associated with the production of agricultural products. Careers' titles in the cluster include farmers, veterinary officers, and scientists.

2. Human services

This cluster includes cosmetologist psychologists, social workers, hairdressers, and other professionals related to human beauty and mental wellness sub-sectors.

3. Health sciences

Professionals in the Health Sciences cluster work in hospitals, chemists, clinics, and patients' homes. They include nurses, doctors, clinicians, pharmacists, paramedics, and healthcare operators.

4. Business, management, and administration

The cluster consists of careers in business-related fields. They include marketers, finance and business analysts, accountants, managers, and HR experts. It also features many junior entry-level positions, like clerks, typists,  secretaries, and front office workers.

Answer:

None, they are all career clusters

Explanation:

I hope this helped buddy.

Assume that at one point a business sells organizers for a price of $20 each, which cost $10 to produce (variable costs). The business's fixed expenses for the period are $4,000. What is the break-even point?
300 units
200 units
100 units
400 units

Answers

Answer:

400 units

Explanation:

From the contribution margin concept, the break-even point is obtained by dividing the fixed costs by the contribution margin per unit.

For this business, fixed costs are $4,000

Contribution margin per unit  is equal to sales price - variable cost per unit

=$20 - $10

= $10

Break-even point = $4000/$10

=400 units

Timothy Gates and Prada Singh decide to form a new company, TGPS LLC (a multimember LLC that will report its operations as a partnership). Timothy is married, and Prada is single. Each contributes $400,000 of capital to begin the business, and both materially participate in the business. In 2019, TGPS reports a net loss of $580,000. What are the implications of this loss for Timothy and Prada?

Answers

Answer:

Since Timothy is married (and probably files as married filing jointly) can use $290,000 (half of the total loss) to offset nonbusiness income.

On the other hand, since Prada is single, she has an excess business loss of $40,000 ($290,000 - $250,000). She can only use $250,000 (part of her share of the loss) to offset nonbusiness income. The remaining $40,000 must be carried forward and may be used in the future.

What is created during the design phase of ADDIE as a vehicle for feedback before moving on to the next stage?
A) Thesis
B) Storyboard
C) Prototype
D) Internship

Answers

Answer:

c: prototype

Explanation:

plz tell me the books that I need to study for bcom 1st year (my major subject is accounts)​

Answers

Answer:

And financial expression

airline pilots are transportation and tourism career true or false​

Answers

Answer:

True

Explanation:

(i have no explanation i just know)

Answer:

True

Explanation:

Airplane pilots fly people to different areas around the world( which may be for tourism) so they are part of the transportation and tourism career.

You lost $65,000 out of your original $105,000 investment. What percentage of your initial investment was lost?

Answers

Answer:

The answer is 62% (B)

Explanation:

The easiest way to answer this is by simply doing $65,000 divided by $105,000. You'll get 61.9 but if you round it, you get 62% and that's how you get the answer.

Also, I just got this question and I got it correct.

Hope this helps!!

Percentage of lost in initial investment is 61.90%

Given that;

Amount lost = $65,000

Original investment = $105,000

Find:

Percentage of lost in initial investment

Computation:

Percentage of lost in initial investment = [Amount lost / Original investment]100

Percentage of lost in initial investment = [65,000 / 105,000]100

Percentage of lost in initial investment = 61.90%

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A job application is a form used to make a job request. (3 points)
True
False

Answers

Answer:

I would say it is True.

Explanation:

A job application form states your personal information

Andy's utility function for candy is. U(x) = 10vx. If Andy eats 64 pieces of candy,
how much utility does Andy receive?

Answers

Answer:

U(x) = 10vx. If Andy eats 64 pieces of candy,

Explanation:

____ are specialized accountants who look for evidence of improper accounting methods.

A. Public accountants
B. Government accountants
C. Fraudulent accountants
D. Forensic accountants

Answers

Answer:

i think that the answer is C

Explanation:

Answer:

Forensic accountants

Explanation:

just trust me on this man

The population hypothesis regarding ethical management models is A. the three models approximate a normal, bell-shaped curve. B. that the moral management model is the largest segment of the normal curve. C. that the immoral management model is the largest segment of the normal curve. D. the three models exhibit a skewed curve, weighted toward either moral or immoral management models, depending on the society being studied.

Answers

Answer:

A

Explanation:

Small businesses selling on credit find that:

a. it is relatively inexpensive and simple.

b. it is expensive and requires a great deal of effort.

c. it is essentially borrowing money from the customer.

d. many can get by without selling on credit because their business customers don't expect to use credit.

Answers

Answer:

b. it is expensive and requires a great deal of effort.

Explanation:

selling on credit is basically lending money to customers and it can be very expensive for a small business. First of all, the risk of not getting paid always exists. Second, a small business doesn't generally have excess cash in order to finance credit sales. This means that you might probably need to borrow money yourself to finance your customers.

The good side of credit sales is that they might help you increase your total sales. But you have to calculate which is higher, the costs or the benefits.

This is the experience curve for the fictional Motorcycle STICKER industry. The average slope is .167 meaning that for every doubling of output costs drop 83.3%. Xtreme Stickers Inc. just came out with a brand new product that is better than anything else in the industry. Even though we are talking abut stickers competitors cannot copy you very quickly. As the CEO of Xtreme Stickers Inc. you need to decide how to price your stickers. What pricing model will you choose?

Answers

Answer:

Aggressive Pricing Model

Explanation:

In a scenario such as this one, the best pricing model would be an aggressive pricing model. This is because due to the slope being 0.167 this means that the faster your business grows the lower prices you can charge for your product while still making the same profit margins. This is due to your output costs dropping by more than half as you grow. These lower prices also allow you to compete with the other industries in the market and outperform them drastically due to being able to charge a much lower price for the same product as the competition.

Metallica Bearings, Inc., is a young start-up company. No dividends will be paid on the stock over the next nine years because the firm needs to plow back its earnings to fuel growth. The company will pay a dividend of $10 per share 10 years from today and will increase the dividend by 6 percent per year thereafter. If the required return on this stock is 10 percent, what is the current share price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Answers

Answer:

$106.02

Explanation:

Div₀ - Div₉ = 0

Div₁₀ = $10 and then will grow by 6% forever

we must first determine the terminal value for year 9 using the dividend growth model:

P₉ = Div₁₀ / (Re - g) = $10 / (10% - 6%) = $10 / 4% = $250

now we shall discount this to present day value:

P₀ = $250 / (1 + 10%)⁹ = $250 / 2.3579 = $106.02

This software application can be used to organize, analyze, and illustrate data.

Answers

Answer:

its Excel :)

Explanation:

I learned abt it

Answer:

person above me

Explanation:

What is not a good approach to a question about your weaknesses? You should avoid using the word "weakness," but answer honestly. You should exaggerate a little in your answer to impress the interviewer. You should show how you've been working to improve in the area you mention. You should avoid trying to make it a positive: "I tend to work too much."

Answers

B . You should exaggerate a little in your answer to impress the interviewer.

Explanation:

im smart <3

Answer:

its b

Explanation:

i took the test and got 100%

Which type of economy is used by the United States?
HELPPPPPPPPP

Answers

Answer:

mixed economy

Explanation:

The United States has a mixed economy. It works according to an economic system that features characteristics of both capitalism and socialism.

mixed economy

The United States has a mixed economy. It works according to an economic system that features characteristics of both capitalism and socialism

A copyright protects a company that uses an original author's work without permission. (6 points)

True
False

Answers

Answer:

false

Explanation:

copyright protects the author's work when it is used without permission.

Answer:

es Falso

Explanation:

esperó que te sirva marcarme como mejor respuesta PORFA y gracias

What is the best what to make money

Answers

Explanation:

Be a Customer Service Rep. U-Haul offers the best of both worlds. ...

Fill Out Surveys Online. Survey Junkie is a website that pays teens for sharing their opinion. ...

Get Paid to Search the Internet. ...

Test Products. ...

Sell Textbooks. ...

Design T-Shirts. ...

Babysit. ...

Offer Services For $5.

What sort of work can 14 and 15-year-olds do?

Barista.

Busser.

Caddy.

Cashier.

Dog walker.

Dishwasher.

Grocery bagger.

Host/hostess.

What role do executive agencies play in developing the federal budget?
A. Executive agencies sign off on the final spending bill proposed by
Congress.
B. Executive agencies develop budget requests that are sent to the
OMB.
C. Executive agencies determine which spending programs will be
mandatory.
O D. Executive agencies resolve differences between the House and
Senate versions of the budget.
SUBMIT

Answers

Answer:

B. Executive agencies develop budget requests that are sent to the OMB

Just got it right

The role that executive agencies play in developing the federal budget is that executive agencies develop budget requests that are sent to the OMB. Hence, Option B is correct.

What is the federal budget?

A federal budget is comprised of the spending and revenues of the U.S. federal government. It is the financial representation of the priorities of the government, reflecting historical debates and competing for economic philosophies.

The work in regards of the budget actually begins in the executive branch the year before the budget is to go into effect. It is the federal agency that creates the budget requests and submits them to the White House Office of Management and Budget (OMB).

Therefore, Option B is correct.

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One month ago, Kyle made a goal to save $800 for a new video camera. The deadline is in seven months. He now has $110 saved. Evaluate his progress toward reaching his goal. Is Kyle on track to reach his goal? Yes or no?

Answers

Answer:

No, he will not reach his goal if he saves $110 per month.

Explanation:

Answer:

yes

Explanation:

The Howell Company has prepared a sales budget of 40 comma 000 finished units for a​ 3-month period. The company has an inventory of 11 comma 000 units of finished goods on hand at December 31 and has a target finished goods inventory of 13 comma 000 units at the end of the succeeding quarter. It takes 3 gallons of direct materials to make one unit of finished product. The company has inventory of 61 comma 000 gallons of direct materials at December 31 and has a target ending inventory of 58 comma 000 gallons at the end of the succeeding quarter. How many gallons of direct materials should Howell Company purchase during the 3 months ending March​ 31?

Answers

Answer:

Purchases=  123,000 gallons

Explanation:

Giving the following information:

Sales:

40,000 finished units for 3 months.

Finished goods inventory:

Beginning inventory= 11,000 units

Desired ending inventory= 13,000 units

It takes 3 gallons of direct materials to make one unit of finished product.

Direct material inventory:

Beginning inventory= 61,000 gallons

Desired ending invenyory= 58,000 gallons

First, we need to calculate the production for the period:

Production= sales + desired ending inventory - beginning inventory

Production= 40,000 + 13,000 - 11,000

Production= 42,000 units

Now, we can calculate the purchases:

Purchases= production + desired ending inventory - beginning inventory

Purchases= 42,000*3 + 58,000 - 61,000

Purchases=  123,000 gallons

Reyes manufacturing company uses a job order cost system. at the beginning of january, the company had one job in process (job 201) and one job completed but not yet sold (job 200). job 202 was started during january. other select account balances follow (ignore any accounts that are not listed).

Answers

Question Completion:

During January, the company had the following transactions:

a) Purchased $20,000 worth of materials on account.

b) Recorded materials issued to production as follows:

Job Number          Total Cost

201                           $12,000

202                            21,000

Indirect materials       3,200

                              $36,200

c) Recorded factory payroll costs from direct labor time tickets that revealed the following:

Job Number   Hours   Total Cost

201                     100         $2,150

202                    500        10,750

Factory supervisor's         5,000

                                      $17,900

d) Applied overhead to production at a rate of $25 per direct labor hour for 600 actual direct labor hours.

e) Recorded the following actual manufacturing overhead costs:

Items                         Total Cost  Description

Factory rent              $3,100       Paid in cash

Depreciation              2,500       Factory equipment

Factory utilities           1,750        Incurred but not paid

Factory insurance      1,250        Prepaid policy

                                $8,600

f) Completed Job 201 and transferred it to Finished Goods Inventory.

g) Sold Job 200 for $31,000.

Job 202 was still in process at the end of January.

Requirement: Post all transactions to T-accounts, including offsetting accounts, like the Cash Account, etc.

Answer:

Reyes Manufacturing Company

T-accounts:

Raw materials

Account Titles                 Debit     Credit

Accounts payable        $20,000

Job 201                                       $12,000

Job 202                                        21,000

Indirect materials                          3,200

                         

Accounts payable

Account Titles                 Debit     Credit

Raw materials                             $20,000

Job 201

Account Titles                    Debit     Credit

Raw materials                 $12,000

Salaries expenses              2,150

Manufacturing overhead  2,500

Finished Goods                              $16,650

Job 202

Account Titles                    Debit     Credit

Raw materials                 $21,000

Salaries expenses            10,750

Manufacturing overhead 12,500

Ending Balance                              $44,250

Finished Goods Inventory

Account Titles                    Debit     Credit

Job 201                             $16,650

Cost of Job 200 sold                      $

Cost of goods sold

Account Titles                    Debit     Credit

Finished goods                   $

Sales Revenue

Account Titles                    Debit     Credit

Cash                                              $31,000

Cash Account

Account Titles                   Debit     Credit

Sales revenue              $31,000

Manufacturing overhead

Account Titles                 Debit     Credit

Raw materials               $3,200

Salaries expenses          5,000

Job 201                                          $2,500

Job 202                                          12,500

Salaries Expense

Account Titles                 Debit     Credit

Job 201                                        $2,150

Job 202                                        10,150

Manufacturing overhead             5,000

Explanation:

All the accounts involved in Reyes Manufacturing Company's January transactions are posted to the general ledger in the form of T-accounts with debit and credit sides.  The balances are not extracted.

What is the difference between quality leadership and survival pricing?
A. Quality leadership yields a higher profit while survival pricing
yields a lower profit.
B. Quality leadership is intentionally setting high prices while survival
pricing is intentionally lowering prices.
C. Quality leadership is for higher quality products while survival
pricing is for lower quality products.
D. Quality leadership is for larger business while survival pricing is for
smaller business.

Answers

Answer:

b.

Explanation:

The distinction between quality leadership and survival pricing is that the former involves purposefully raising prices, while the latter involves purposefully lowering prices.

Thus, Option B is correct.

What are the prices for Quality Leadership and Survival?

When a business strives to offer the greatest product on the market and charges more than its rivals, this is known as product quality leadership. Typically, these businesses are market leaders. The stage in the product life cycle can also affect the pricing targets for specific goods or services. Survival—a strategy used when a company needs to set prices at a level that just makes it possible for it to stay in operation and pay for necessary expenses.

For a brief period of time, survival takes precedence over making a profit. The only time that survival pricing should be applied is temporarily or on a limited basis.

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What is the key difference between a transaction account (checking) and a time deposit (savings, CD, etc.)?

Answers

Answer:

A checking account is operated using a cheque book while a time deposit is operated by the use of a pass book

Explanation:

Here, we want to examine the difference between a transaction account and a time deposit account.

While both of these are accounts types used in banks, there are some key differences between them.

For a checking account, it is operated using a cheque book to request for funds inside while bearing a very little amount of interest due to the fact that withdrawals can be effected regularly.

For a time deposit account, although it bears a small difference with normal savings account due to the fact that the interest rate is lower. However, the difference here is that a passbook is used in requesting funds from it and it bears a higher interest rate compared to a checking account

The September 30 bank statement for Cadieux Company and the September ledger account for cash are summarized here: BANK STATEMENT Checks Deposits Other Balance Balance, September 1 $ 2,200 September 7 NSF check $ 100 2,100 September 11 $ 3,300 5,400 September 12 #101 $ 900 4,500 September 17 #102 1,900 2,600 September 26 #103 2,400 200 September 29 EFT deposit 200 400 September 30 Service charge 20 380 Cash (A) Sep 1 Balance 2,200 Sep 10 3,300 900 Sep 10 #101 Sep 30 3,000 1,900 Sep 15 #102 2,400 Sep 22 #103 50 Sep 28 #104 Sep 30 Balance 3,250 No outstanding checks and no deposits in transit were noted in August. However, there are deposits in transit and checks outstanding at the end of September. The NSF check and EFT involved transactions with Cadieux Company’s customers. Required: Prepare a bank reconciliation.

Answers

Answer:

Bank account reconciliation:

Bank balance $380

+ deposits in transit $3,000

- outstanding checks ($50)

reconciled bank balance $3,330

Cash account reconciliation:

Cash balance $3,250

- NSF check ($100)

+ EFT deposit $200

- bank fees ($20)

reconciled cash account $3,330

Explanation:

Bank statement

                                        Checks      Deposits      Other                Balance

Balance, September 1                                                                       2,200

September 7                                                      NSF check 100       2,100

September 11                                      3,300                                      5,400

September 12 #101           900                                                           4,500

September 17 #102        1,900                                                           2,600

September 26 #103      2,400                                                           200

September 29                                                     EFT deposit 200   400

September 30                                                  Service charge 20   380

Cash account

Sep 1 Balance 2,200

Sep 10                                        3,300                 900           Sep 10 #101

Sep 30                                       3,000                 1,900         Sep 15 #102      

                                                                             2,400         Sep 22 #103

                                                                             50              Sep 28 #104

Sep 30 Balance                         3,250

List the six shifters (NPDs) of demand

Answers

Answer:

Changes in income

Changes in the number of consumers

Changes in consumer tastes and preferences

Changes in consumer expectations

Changes in the price of substitute goods

Changes in the price of complementary goods

Explanation:

please help me with this match the column​ if i get perfect answer then i will give brainliest

Answers

Answer:

what do you need help on

Explanation:

PLEASE HELP QUICKLY: (FIRST ANSWER GETS BRAINLIEST) PERSONAL & FAMILY FINANCE

Owen wants to start a tutoring business. He has a space rented and a lot of ideas, but he has no employees who can tutor the students. Which category of economic resource does he require?





labor





entrepreneurial ability





land

Answers

Answer:

entrepreneurial ability

Sorry, no one answered your question sooner, hope that helps.

labor <><><><><><><><><><><><>

true or false losing inventory for the year ended 31 August 2018 will be closing inventory for the year ended 31 August 2019

Answers

true because they closed

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A stick is broken into two pieces, at a uniformly random breakpoint. Find the CDF and average of the length of the longer piece. Savannah drove 716 miles on Monday. She drove another 572 miles one Tuesday. About how many more miles did shedrive on Monday than Tuesday?400300200100 A shell is fired with a horizontal velocity in the positive x direction from the top of an 80 m high cliff. The shell strikes the ground 1330 m from the base of the cliff. What is the speed of the shell as it hits the ground Plz help will make brainliest Plz help me 10 points pls help me out ill give brainlyist Which compound is a hydrocarbon?A. C2H6B.CO2C. C6H12O6D. H2O How has the oil and gas industry affected the environment and economy of Louisiana?O Overall, it is harmful to the environment and the economyO Overall, it is good for the economy and the environmentIt hurts the environment, but is good for the economy,It hurts the economy, but is good for the environment, What is an important property about the wires of a circuit? A drop of water leaks from a faucet at a rate of 5-5 liters per second Find the value of x.O x = 2O x = 3Ox=33O x = 52 f(x)=-x+7 in a table. Susanne wants to put up a fence around hersquare garden. The garden measures11 feet on each side How much fencingmaterial does she need My math teacher,mr.numeric, went to the auto show last weekend. I made the mistake of asking him what he saw.here was his response: Im glad you asked. I made several interesting observations. As you might have guessed, every red car was a sports car, but I found it odd that half of all the blue cars were sports cars. Interestingly, a salesman told me that half of all the sports cars were red. I counted 40 blue cars and 30 red cars. Now can you tell me how many sports cars were neither blue nor red? What is the value of x in the proportion below?1/2 /4 = x/28O 3 1/2O 7 1/2O 14O 56PLEASE HELP ITS URGENT A mi no me gusta trabajar porque soy What are the standard international (si) units of distance Select True or False.The expression 3x 4(2x 5) is equivalent, to the expression 20 5x.TrueO false Find the solution of the system of equations.6 - 2y = -40- 7x 2y = -44 7. Fill in the chart listed below on the results of the Reformation. You will use information from both Module 9:3 & 9:4 in your textbook. Some of the results will fit into multiple SPRITE categories:Results of the Reformation / The Legacy of the Reformation:S SocialP PoliticalR ReligiousI IntellectualT TechnologicalE Economic