A company hires an employee with a family of 3 for a salary of $160,000 over 3 other candidates. If the employee sold her house for $370,000, what is the total recruiting expense? Recruitment Costs Interview Costs $2,000 per person Job Posting fee $1,000 1st year fee 10% Real Estate Fee 6% of sales price Shipping fee $4,000 Family travel cost $400 per person A. $50,400 B. $52,400 C. $51,600 D. $46,400

A company hires an employee with a family of 3 for a salary of $160,000 over 3 other candidates. If the employee sold her house for $370,000, what is the total recruiting expense? Recruitment Costs Interview Costs $2,000 per person Job Posting fee $1,000 1st year fee 10% Real Estate Fee 6% of sales price Shipping fee $4,000 Family travel cost $400 per person A. $50,400 B. $52,400 C. $51,600 D. $46,400

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter9: Deductions: Employee And Self- Employed-related Expenses

Section: Chapter Questions

Problem 49P

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A company hires an employee with a family of 3 for a salary of $140,000 over 3 other candidates. If the employee sold her house for $300,000, what is the total recruiting expense? Recruitment Costs Interview Costs Job Posting Fee 1st Year Fee Real Estate Fee Shipping Fee Family Travel Cost $2,000 per person $1,000 10% 6% of sales price $4,000 $400 per person $[?]
To recap, W.T.’s planning on the following: Newspaper ad $120 per month Social media manager $100 per month; $1 per job scheduled Payment collection $0.75 per job Gas $4.00 per job Considering his analysis of similar services and to keep things simple, W.T. plans to price all jobs the same and charge $15 per job. Because of this flat rate, he anticipates he’ll likely need to create different types of “jobs”. For example, purchasing a list of items at the grocery store would be one job, while a bundle of 2-3 small errands such as picking up dry cleaning and prescriptions, might be considered one job. We’ll deal with those details later. For now, assume that all jobs are priced at $15 each and all have the associated variable expenses listed above. Because this will be a new business, W.T. knows business will likely be slow at the beginning. Complete the following table assuming W.T. completes 10 jobs in a single month. Item Per Job Total (10…
Bill Mason is considering two job offers. Job 1 pays a salary of $41,900 with $4,875 of nontaxable employee benefits. Job 2 pays a salary of $40,000 and $6,530 of nontaxable benefits. Use a 28 percent tax rate. a. Calculate the monetary value of each job. b. Which position would have the higher monetary value? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the monetary value of each job. Note: Round your final answers to the nearest whole number. Monetary Value Job 1 Job 2
Sheehan works for Andy Company and is a superior sales guy. His total compensation this year is $600,000. Andy sponsors an integrated profit sharing plan with a base percentage of 5.5% and a maximum excess percentage. It uses the current wage base as the integration level. How much will the company contribute for Sheehan for 2019? Select one: $15,125 $23,491 $23,785 $56,000
Answer the following: You are contemplating a job offer with an advertising agency where you will make 54,000 in your first year of employment. Alternatively, you can begin to work with your father's business where you will earn an annual salary of 38,000. 1. Where will you work? a. Advertising agency b. Fathers business c. I choose not to work 2. If you choose to work where you will earn most, what is the opportunity cost? a. 54,000 b. 38,000 3. What is the differential revenue?a. 54,000 b. 38,000 c. 16,000
To test and assess what you have learned from this module, let us now compute the following. 1. Engelbert is a Marketing Manager earning an annual salary of P150 000, a commission on his own sales of 2%, and an override of - % on his men's sales. His men are entitled to 4-% commission on their own sales plus a basic monthly pay of P8 600 and transportation allowance of P1 200. Engelbert is also entitled to transportation and representation allowance of P1 500 a month. For the past month, Engelbert has total sales of P385 360 while his men sold as follows: Homer, P254 125 Pacifico, P88 194 Oliver, P128 460 Edward, P99 295 Compute for the gross earnings of Engelbert and each of his men. 2. Matt is a Product Manager earning a semi-monthly salary of P5 500. He is given commission of 2.5% on his own sales and an override of 0.5% on his men's sales. His men are entitled to a 3.75% commission on their own sales and a basic semi-monthly salary of P4 000. Matt and his men are given…
Mrs. Camelia owns a cake business and employs five employees at a monthly salary of RM2,000 per employee, with an additional commission of RM7.00 per cake sold. Other costs RM Rental RM1,600 per month Supplies RM0.60 for a cake RM650 per month RM254 per month and an additional RM0.40 for a cake. Maintenance Utilities Promotion and Advertisement RM600 per month The selling price is RM60.00 per cake. Required: a) Determine (CLO3, C3) the total fixed cost per month and the variable cost for a cake sold. b) Calculate (CLO3, C3) the break-even point in units and RM. c) If the selling price is increased by 10%, how many (CLO3, C3) cakes should be sold to achieve break-even point in units and RM? d) If the variable costs increased by RM2.00, how many (CLO 3, C3) cakes needed to be sold to earn a profit of RM18,000 a month? e) If changes in (c) and (d) are taken into account, how many (CLO 3, C3) cakes should be sold to achieve a profit of RM18,000? f) Sketch (CLO 3, C1) a break-even point…
Rosaline bought 9 tickets to an international product exposition for P2,025.00. How many tickets can be purchase with P3,825.00? Your answer A business's return of investment will be allocated on three business partners: Justine, Jay, Jamaica in ratio of 3:4:5, respectively? If the total income is P1,500.00. How mucn will Jay receive? Your answer If 15 men can repair a road in 28 days, how long will 35 men take to do so?
Which of the following is an example of Step Costs? Select one: 1. A company’s advertisement assistant is paid $100 for every new partner who agrees to distribute the company’s marketing materials. 2. The salary of a company’s social media manager is $2,500 per month. The monthly salary of the head of the marketing department is $4,000. 3. A company employs a salesperson whose salary is $3,000 per month. Once the monthly sales exceed $100,000, the salesperson receives the commission of 8% of the sales made. 4. A sales company needs one manager for up to 100 clients, 2 managers for 101 to 200, and so forth as the number of clients increases.
Fred is considering three job offers in advertising. A full-time position as a coordinator that pays a salary of $40,000 per year. A full-time position as a designer that pays an hourly wage of $28. The job assumes five 8-hour days per week. A sales representative that pays a 5% commission. Sales reps typically sell an average of $100,000 per month in advertising. The following are the specifics about the benefits of the job opportunities: The U.S. government will deduct Social Security (6.2%) and Medicare (1.45%). Fred will deduct 15% of Gross Income to cover Federal Income Tax. Fred does not live in a state with State Income Tax. Fred is planning on taking two weeks of vacation and has typically been sick 3 days per year. The Coordinator job includes two weeks of paid vacation and five paid sick days per year, paid health insurance, life insurance costing $35 per month, and a fully paid retirement plan. The Designer job includes five paid vacation days and three paid sick days…
Fred is considering three job offers in advertising. A full-time position as a coordinator that pays a salary of $40,000 per year. A full-time position as a designer that pays an hourly wage of $28. The job assumes five 8-hour days per week. A sales representative that pays a 5% commission. Sales reps typically sell an average of $100,000 per month in advertising. The following are the specifics about the benefits of the job opportunities: The U.S. government will deduct Social Security (6.2%) and Medicare (1.45%). Fred will deduct 15% of Gross Income to cover Federal Income Tax. Fred does not live in a state with State Income Tax. Fred is planning on taking two weeks of vacation and has typically been sick 3 days per year. The Coordinator job includes two weeks of paid vacation and five paid sick days per year, paid health insurance, life insurance costing $35 per month, and a fully paid retirement plan. The Designer job includes five paid vacation days and three paid sick days…
Suppose Frances earns $825 per week working as a programmer for PC Pros. She uses $9 to buy a box of aspirin at Pillmart Pharmacy. Pillmart Pharmacy pays Dmitri $450 per week to work the cash register. Dmitri uses $175 to purchase software from PC Pros. Identify whether each of the following events in this scenario occurs in the factor market or the product market. Event Factor Market Product Market Frances spends $9 to buy a box of aspirin. Frances earns $825 per week working for PC Pros. Dmitri spends $175 to purchase software from PC Pros. Which of the elements of this scenario represent a flow from a firm to a household? This could be a flow of dollars, inputs, or outputs. Check all that apply. a. Frances's labor b. The $450 per week Dmitri earns working for Pillmart Pharmacy c. The aspirin Frances receives d. The $175 Dmitri spends to purchase software from PC Pros