Todd Earns an Hourly Rate of $20 and Had Taxes

question 40

Multiple Choice

Todd earns an hourly rate of $20 and had taxes withheld totaling $200.What would his net earnings be if he worked 44 hours (assuming double time over 40 hours) ?

• A)$760
• B)$780
• C)$720
• D)$860

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Definitions:

Accounts Payable

Liabilities of a business that represent the company's obligation to pay off a short-term debt to its creditors or suppliers.

Inventory

The complete inventory of products and materials a company possesses, meant for sale or to be used in manufacturing.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold in a company, including material and labor costs.

Accounts Receivable

Funds that customers owe to a business for products or services provided but for which payment has not yet been received.