Patrick Poplin Is a Factory Worker at Ingram Inc

question 31

Essay

Patrick Poplin is a factory worker at Ingram Inc.earning $15.00 per hour.Patrick is eligible for ten paid holidays and three weeks vacation and is paid "time-and-a-half" for overtime.He is also eligible for a $700 bonus at the end of the year.Patrick's earnings so far this year are $7,000.
Tax rates are as follows:
Employee income tax 15% on all earnings
FICA 8% on first $100,000 of earnings
FUTA 1% on first $8,000 of earnings
SUTA 4% on first $8,000 of earnings
Assuming Patrick worked 48 hours this week,calculate the total expense to Ingram Inc.for this week's wages,payroll taxes and fringe benefits.

Calculate the holding cost for a specific period based on the value of the shipment and the holding cost rate.

Understand the impact of shipping time on total shipping costs.

Apply mathematical skills to solve supply chain economics problems.

Understand how to calculate the geometric average return of an investment.

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Definitions:

Testimony

The formal statement or declaration of a witness under oath, typically given in court or legal proceedings.

Oath

A solemn promise, often invoking a divine witness, regarding one's future action or behavior.

Summary Judgment

A legal decision made by a court without a full trial, based on submitted evidence, when there's no dispute on the material facts.

Discovery Process

The pre-trial phase in a lawsuit where both parties gather and exchange information relevant to the case.