Graded Assignment Practice: You Do the Math Answer the following questions to learn more about wages and income levels in the United States. 1. Calculate the hourly wage associated with the two annual income levels listed below. Assume that an individual works 40 hours per week for 50 weeks each year. (5 points) Annual income Hourly wage 2005 U.S. federal poverty line for a family of four $19,350 $9.675 2005 U.S. median household income $46,326 $23.163 2.
Does Joe have enough in savings to pay for the down payment and all of the closing costs? Solution Plan: Complete the following questions based upon the information in the video and other information provided in the worksheet. 1. Joe figures that with overtime he will average 40 hours a week for 52 weeks a year. If his current wage is $15.00 per hour, how much will he make per year?15*40*52= $31,200.00 annually 2.
Ecumene: the portion of earth’s surface occupied by permanent human settlement is called the ecumene. Epidemiological transition: focus on distinctive causes of death in each stage of the demographic transition. Infant mortality rate: the annual number of deaths of infant under 1 year old of age. Compared with total live births. J-curve: This is when the projection population show exponential growth; sometimes shape as a
Penny – $7 Suzie - $5 Lori - $10 2. Using the table above and absorption cost pricing, complete the table below. You will need to allocate the fixed costs (rent, administration, depreciation) to each product. | Penny | James | Lori | Total | Floor space (m2) | 3,000 | 3,000 | 4,000 | 10,000 | Number of employees | 3 | 2 | 3 | 8 | Value of machinery and equipment | $30,000 | $25,000 | $35,000 | $90,000 | Rent allocation | $10,800 | $10,800 | $14,400 | $36,000 | Administration allocation | $9,375 | $6,250 | $9,375 | $25,000 | Depreciation allocation | $4,000 | $3,333 | $4,667 | $12,000 | Other indirect costs | $4,000 | $4,000 | $4,000 | $12,000 | Total indirect cost allocation | $28,175 | $24,383 | $32,442 | $85,000 | Add total direct costs (AVC * Q) | $105,000 | $75,000 | $150,000 | $330,000 | Total costs (absorption costing) | $133,175 | $99,383 | $182,442 | $415,000 | Sales revenue (P * Q) | $210,000 | $150,000 | $300,000 | $660,000 | Profit | $76,825 | $50,617 | $117,558 | $245,000
Chapter 2. 2-14 a. Cumberland Industries' most recent sales were $455,000,000; operating costs (excluding depreciation) were equal to 85% of sales; net fixed assets were $67,000,000; depreciation amounted to 10% of net fixed assets; interest expenses were $8,550,000; the state-plus-federal corporate tax rate was 40% and Cumberland paid 25% of its net income out in dividends. Given this information, construct Cumberland's income statement. Also calculate total dividends and the addition to retained earnings. The input information required for the problem is outlined in the "Key Input Data" section below.
– 133 2013 net sales / base year 2011 net sales = 800,000 / 600,000 = 1.33 1.33 x 100% = 133% 5. In analyzing financial statements, horizontal analysis is a- tool 6. Comparative balance sheets - are usually prepared for at least two years 7. Assume the following cost of goods sold data for a company: 2013 $1,500,000 2012 1,200,000 2011 1,000,000 If 2011 is the base year, what is the percentage increase in cost of goods sold from 2011 to 2013? – 50% = New - Old Old 100 8.
Through dedicated payroll taxes called Federal Insurance Contribution Act (FICA) this was funded. Old age, survivors, and disability insurance (OASDI) or retirement, survivors, and disability insurance (RSDI) are sometimes abbreviated and this is the main part of the Social Security Program. Approximately 85 cents of every dollar of Social Security tax received goes to the OASI fund and about 15 cents of every dollar collected goes to the DI fund for disability. Administrative costs amount to less than one percent of taxes collected. Social Security is a safety net protecting American workers and his or her families for retirement, disability, and early death.
Use the following example to learn the SLOs Prepare income statement under absorption costing and direct costing for ABC corporation from the following data: Direct material cost per unit is $4,direct labor cost per unit is $5,variable manufacturing overhead per unit is $3,fixed manufacturing overhead budgeted per month is $12000,variable selling and administrative cost per unit is $2 and fixed selling and administration cost budgeted per month is $7000.Production and sale information is as follows: January February March April Total Units produced 8000 10000 5000 3000 26000 Units sold 8000 9000 6000 3000 26000 Sales price per unit is $ 30 Budgeted capacity of production per month is 8000 units. Capacity variance resulting in over applied and under applied overhead is closed to cost of goods sold. Reconcile the income under absorption and direct costing. Sample multiple choice questions: 1)ABC company had a net income of $120000 using absorption costing income statement and $ 95000 using variable costing income statement. Fixed manufacturing overhead cost per unit was $10.If 22500 units were produced how many units
For the purposes of this paper, a family business will be considered a company that is controlled and majority-owned by members of the same family. The impact and scope of family enterprises on a global basis are enormous. These entities create an estimated 70%-90% of the global gross domestic product (Family Firm Institute Inc., n.d.). Small business, including family firms also employ over half of US workers and are less likely to lay off employees regardless of financial performance Family-owned businesses are also the backbone of the American economy. Studies have shown that about 35% of Fortune 500 companies are family-controlled.
Chapter 21 Monitoring Jobs and Inflation Employment and Unemployment • • • • • • • Every month, Statistics Canada surveys 54,000 households to track the state of the nation’s labour market. This survey is called the Labour Force Survey. The working-age population is the total number of people aged 15 years and over. The working-age population divides into two groups: those in the labour force and those not in the labour force. The labour force is split into two groups: the employed and the unemployed.