Accurate Reports Has 50 Employees Each Working 40 Hours Per

question 87

Essay

Accurate Reports has 50 employees each working 40 hours per week and earning $25 an hour.Federal income taxes are withheld at 15% and state income taxes at 6%.FICA taxes are 7.65% of the first $106,800 earned per employee and 1.45% thereafter.Unemployment taxes are 3.8% of the first $7,000 earned per employee.
1.Compute the total salaries expense,the total withholdings from employee salaries,and the actual direct deposit of payroll for the first week of January.
2.Compute the total payroll tax expense Accurate Reports will pay for the first week of January.

Identify and calculate the impact of insurance deductibles on claims.

Recognize what personal property is covered under homeowner's insurance policies.

Distinguish between speculative, avoided, assumed, pure, and reduced risks.

Comprehend factors influencing insurance rates and coverage territories.

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Definitions:

Growth Rate

The rate at which an organism or any of its parts increases in size or number over a specific period.

Population

A group of individuals of the same species living and interacting in the same geographical area.

Exploitation Competition

Intraspecific competition in which all the individuals in a population “share” the limited resource equally so that at high population densities none of them obtains an adequate amount. Also called scramble competition. Compare with interference competition.

Oscillate

To move or swing back and forth at a regular speed, or to vary between opposing beliefs, feelings, or theories.