Felicia is interviewing a candidate for a supply chain position. What is she most likely looking for in a candidate?

Answers

Answer 1

Answer:

“I have worked in supply chain for a number of years now and I feel the experiences I have gained have brought me to the position I am in today, where I am a perfect match for your company.

"I am conscientious, determined, resilient and professional in my approach to my supply chain duties, and I also understand that, without someone performing their duties in this position to a high standard, your organization cannot function effectively.

With me, you will get someone who has a thorough understanding of the supply chain process, an ability to work effectively as part of a team, and also a proven track record of achievement whilst completing difficult tasks whilst under pressure. You should hire me simply because, based on my experience, skills and passion, I am the best person for this job.”

Explanation:

This is something Felicia should look for when interviewing . She needs someone who will have passion and skill and work effectively !


Related Questions

swot explanation with examples

Answers

The answer is SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. Strengths and weaknesses are internal to your company—things that you have some control over and can change. Examples include who is on your team, your patents and intellectual property, and your location.

What's the greatest way to define business?

A company or entrepreneurial entity that engages in business, industrial, or professional activity is referred to as a business. Both for-profit and nonprofit organizations can operate as businesses. Limited liability firms, corporations, partnerships, and sole proprietorships are all examples of different business structures.

What are the two qualities that make up a business?

Business has the following characteristics: Economic activity: Since business is done with the intention of making money, it is seen as an economic activity. Buying and selling: Buying and selling products and services are part of business. Products made for personal use are not regarded as being created for sale.

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Productivity can be improved by:

Answers

Answer:

increasing the output for the same number of inputs

Explanation:

true or false. Indemnification is protection for owners and officers of a corporation against personal liability, so long as they are acting in their official capacity and reasonably?

Answers

Answer:

true

Explanation:

I've had this question

On May 7, Hatch Company purchased on account 490 units of raw materials at $20 per unit. During May, raw materials were requisitioned for production as follows: 211 units for Job 200 at $16 per unit and 186 units for Job 305 at $20 per unit.Journalize the entry on May 7 to record the purchase. If an amount box does not require an entry, leave it blank. Refer to the Chart of Accounts for exact wording of account titles.
CHART OF ACCOUNTSBergan CompanyGeneral Ledger
ASSETS
110 Cash
121 Accounts Receivable
125 Notes Receivable
126 Interest Receivable
131 Materials
132 Work in Process
133 Factory Overhead
134 Finished Goods
141 Supplies
142 Prepaid Insurance
143 Prepaid Expenses
181 Land
191 Factory
192 Accumulated Depreciation-Factory
LIABILITIES
210 Accounts Payable
221 Utilities Payable
231 Notes Payable
236 Interest Payable
241 Lease Payable
251 Wages Payable
252 Consultant Fees Payable
EQUITY
311 Common Stock
340 Retained Earnings
351 Dividends
390 Income Summary
REVENUE
410 Sales
610 Interest Revenue
EXPENSES
510 Cost of Goods Sold
520 Wages Expense
531 Selling Expenses
532 Insurance Expense
533 Utilities Expense
534 Office Supplies Expense
540 Administrative Expenses
560 Depreciation Expense-Factory
590 Miscellaneous Expense
710
Interest Expense
Journalize the entry on May 7 to record the purchase and on May 31 to record the requisition from the materials storeroom. Refer to the Chart of Accounts for exact wording of account titles.

Answers

Answer:

Hatch Company

Journal Entries:

May 7:

Debit 131 Materials $9,800

Credit 210 Accounts Payable $9,800

To record the purchase of materials on account.

May 31: Debit 132 Work in Process:

            Job 200 $3,376

            Job 305 $3,720

Credit Materials $7,096

To record materials requisitioned for production.

Explanation:

a) Data and Analysis:

May 7: Materials $9,800 Accounts payable $9,800 (490 * $20)

May 31: Work in Progress:

Job 200 $3,376 (211 * $16)

Job 305 $3,720 (186 * $20)

Materials $7,096

Jelf and Ricardo share a hotel room for Jason's wedding Jeff and Ricardo predictably drink too much alcohol, felf passes out. Aicardo is hungry so he walks through the hotel looking for food, Ricardo finds a half-eaten pizza in a pizza box left in the hall outside someone else's room, Ricardo takes the pizza back to their room. (Sadly.this is another true story). Does Ricardo own the plaza?
A. Yes, Ricardo found the pizza which was abandoned
B. Yes. Ricardo owns it against everyone except the guests in the room which he took it from
C. No. The pizza was mislaid property and therefore belongs to the hotel.
D. No. Ricardo stole the pizza and has no rightful ownership interest in it

Answers

Answer:        'C' in my personal opinion

Explanation:

Ricardo cannot own the plaza because, the pizza was mislaid property and therefore belongs to the hotel. Thus, option C is correct.

What is then property?

Property is defined as anything over which a company or individual has legal authority. They might have some enforceable rights to the items.\ Most properties have current or future monetary value, which is why they are classified as assets.

In the given case, Ricardo took the another person's pizza from the door of the person which is actually not belongs to the Ricardo, as it is the property of the another person, so Ricardo cannot become the owner of the pizza.

Therefore, option C is correct, that the Ricardo cannot claim the property of the plaza because the pizza was misplaced and thus belongs to the hotel.

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ePage(s) 49-50 2.4. What is the trade-off between having more now and having more later?
Which country is a good example of a high present rate of investment and a low pres
consumer goods consumption?
United Kingdom
Germany
Click or tap a choice to answer the question.
United States
Mexico

Answers

a) The trade-off between having now and having more later is a difficult one. Having now means that you get to enjoy the benefits immediately.  However,  one might be able to gather more wealth or resources in the long run if he decides to have more later.

b) The country with a good example of a high present rate of investment and a low consumer goods consumption is B. Germany.

What impact does a high investment rate have on a country?

A country with a high rate of investment is investing a large portion of its income or resources in infrastructure, education, research and development, healthcare, etc.  

A high investment rate and low consumer goods consumption are considered a tradeoff between present and future needs and desires.

Investment emphasizes future growth and prosperity rather than immediate gratification.

Germany is one of the countries popular for a high rate of investment in infrastructure, technology, etc., which suggests that it prefers long-term growth over short-term consumption.

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Answer:Mexico

Explanation:

in Mexico, more economic output goes into savings and infrastures, than in North America and Europe

Suire Corporation is considering dropping product D14E. Data from the company's accounting system appear below:



Sales $ 750,000
Variable expenses $ 346,000
Fixed manufacturing expenses $ 258,000
Fixed selling and administrative expenses $ 206,000


All fixed expenses of the company are fully allocated to products in the company's accounting system. Further investigation has revealed that $200,000 of the fixed manufacturing expenses and $115,000 of the fixed selling and administrative expenses are avoidable if product D14E is discontinued.



Required:

a. According to the company's accounting system, what is the net operating income earned by product D14E? (Net losses should be indicated by a minus sign.)

b. What would be the increase (decrease) to income of dropping product D14E? Should the product be dropped?

Answers

Answer: B.

Explanation:

what are other information that should be included in the deposit and withdrawal forms?​

Answers

Answer:

account number needed , name of bank, withdrawing needs pin e.t.c

Zephyr Corp. manufactures air purifiers. It comes up with an idea for a new range of air purifiers called alpha purifiers. Before launching the range of purifiers, Zephyr lets some people try out the product and then collects feedback from them to identify any problems with it. Which of the following is best exemplified in this scenario?

A) Curbstoning
B) Concept testing
C) Perceptual mapping
D) Behavioral targeting
E) Branded "black-box" methodology

Answers

The concept that is best exemplified by the scenario on Zephyr Corp.  is B) Concept testing.

What is Concept testing ?

Concept testing is a market research method used to gather feedback from potential customers on a new product idea or concept. In this case, Zephyr Corp. is letting some people try out the new range of air purifiers before launching it to identify any problems with it.

This feedback will help Zephyr to determine if there is a need for this product, whether it meets the needs of potential customers, and what changes or improvements can be made to the product before it is launched.

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define debit balance in passbook​

Answers

Answer:

The debit balance as per the cash book means the balance of deposits held at the bank. Such a balance will be a credit balance as per the passbook. Such a balance exists when the deposits made by the firm are more than its withdrawals. ... On the other hand, the credit balance as per the cash book indicates bank overdraft.

purchased goods of rs 40000 journal entries​

Answers

The journal entry for Rs. 40, 000 purchases would include a debit to purchases and credit to cash or accounts payable.

How to enter the journal ?

The Purchases account is debited because the business has acquired goods, which is an asset. The Accounts Payable account is credited because the business owes money to the supplier for the goods.

Date                Account title                                Debit              Credit

XX -XXXX       Purchases                                Rs. 40, 000

                       Accounts payable                                           Rs. 40, 000

This journal entry will increase the balance of the Purchases account and the Accounts Payable account. The Purchases account will be used to track the cost of goods sold, and the Accounts Payable account will be used to track the amount of money owed to suppliers.

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Oceanic Company has 15,000 shares of cumulative preferred 2% stock, $50 par and 50,000 shares of $5 par common stock. The following amounts were distributed as dividends:

20Y1 $22,500
20Y2 7,500
20Y3 45,000

Need help understanding this problem!

Oceanic Company has 15,000 shares of cumulative preferred 2% stock, $50 par and 50,000 shares of $5 par

Answers

The dividends per share for the cumulative preferred stock and the common stock is :

                                    20Y1       20Y2     20Y3

Dividend per share:

Preferred Stock           $1           $0.50      $1.50

Common Stock           $0.15       $0          $0.45

What is dividend per share ?

Dividend per share is the sum of declared dividends issued by a company for every ordinary share outstanding . It is calculated by dividing the total dividend  by the number of shares in the issue for each class of stock.

However, the dividend is distributed to preferred stockholders first, followed by common stockholders.

In any year where the dividend is insufficient to cover the cumulative preferred stockholders, whatever is left over is distributed to the preferred stockholders, leaving common stockholders with nothing.

If there are sufficient dividends, the cumulative preferred dividend arrears must be settled in addition to the fixed dividend for the year

The dividend per share is calculated as:-

Cumulative Preferred 2% Stock = 15,000 shares

Par value = $50

Value of Cumulative preferred stock, 2% stock = $750,000 (15,000 x $50)

Fixed preferred dividend each year = $15,000

Common Stock = 50,000 shares

Dividend Distribution   Preferred        Common Stock

20Y1        $22,500        $15,000         $7,500 ($22,500-$15,000)

Dividend per share       $1                     $0.15  ($7,500/50,000)

20Y2           7,500          $7,500            $0

Dividend per share       $0.50                $0

20Y3        45,000         $22,500          $22,500 ($45,000 - $22,500)

Dividend per share       $1.50               $0.45

Preferred stock dividend for 20Y3 = $22,500 ($7,500 + $15,000)

Therefore, the dividend per share for Oceanic Company is calculated.

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Carbonale Castings produces cast bronze valves on a 10-person assembly line. On a recent day, 160 valves were produced during an 8-hour shift. The productivity of the line is valves per hour. John Goodale, the manager of Carbondale, changed the layout and was able to increase production to 180 valves per 8-hour shift. The new productivity is valves per hour. The % productivity increase is %. Round all answers to 2 decimal places.

Answers

Answer:

Missing word " Calculate the labor productivity of the line. b) John Goodale, the manager at Carbondale, changed the layout and was able to increase production to 180 units per 8-hour shift. What is the new labor productivity per labor-hour? c.) What is the percentage of productivity increase?"

a) Output = 160 valves

Input = 10*8 = 80 labor hours

Productivity = Output / Input

Productivity = 160/80

Productivity = 2 valves per labor hour

b) Output = 180 valves

Input = 10*8 = 80 labor hour

Productivity = Output/Input

Productivity = 180/80

Productivity = 2.25 valves per labor hour

c) Percentage increase in the productivity = [(2.25 - 2) / 2] * 100

Percentage increase in the productivity = 0.125 * 100

Percentage increase in the productivity = 12.5%

Orion Corporation has established the following standards for the prime costs of one unit of its chief product, dartboards.
Standard Quantity Standard Price or Rate Standard Cost
Direct material 8.00 pounds 1.75 per pound 14.00
Direct labor 0.25 hour 8.00 per hour 2.00
Total 16.00
During June, Orion purchased 160,000 pounds of direct material at a total cost of $304,000. The total wages for June were $42,000, 90 percent of which were for direct labor. Orion manufactured 19,000 dartboards during June, using 142,500 pounds of the direct material purchased in June and 5,000 direct-labor hours.
Required:
Compute the following variances for June. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance).)

Answers

Answer:

o

Explanation:

well yess because its just

In the Construction version of the Confined Space Entry
Standard, a "Multiple Employer Site" can include blank and a host employer
a "Host Employer".
A. a "Controlling Contractor" (general contractor)
B. "Entry Employers" (subcontractors)
C. "Controlling Employers"
D. Both A and B are correct.
and

Answers

The right response is D. A and B are both true.

A "Multiple Employer Site" in the Confined Space Entry Standard for Construction can have both a "Entry Employer" (subcontractor) and a "Controlling Contractor" (general contractor). A "Host Employer" is likewise regarded as a component of the multiple employer site. As a result, both choices A and B are accurate.

What are the three main forms of legal ownership of a business

Answers

The three main forms of legal ownership of a business is Coporation, Partnership, and Sole proprietorship

According to the extract, entrepreneurial activity includes developing and launching new businesses and marketing them, often with the end goal of selling the business to turn a profit. Based on this, indicate a product or service you plan to start a business with. Explain how you generated the business idea and determined the feasibility of the idea.

Answers

Developing a profitable company idea involves imagination, investigation, and cautious preparation.

How business idea is generated and its feasibility

To generate a business idea, consider your interests, skills, and knowledge. Think about problems that you or others face in your daily life and whether there are potential solutions that could be turned into a business. Research the market to see if there is demand for the product or service you are considering and whether there are existing competitors.

To determine the feasibility of your business idea, conduct a thorough analysis of the potential costs and revenue streams. Create a business plan that outlines your goals, marketing strategy, and financial projections. Consider seeking advice from experts in your industry or consulting with a business mentor. It is also important to assess any legal or regulatory requirements that may apply to your business.

Overall, generating a successful business idea requires creativity, research, and careful planning. By considering your interests, skills, and market demand, you can identify a potential product or service that meets a need and has the potential to be profitable. With thorough analysis and planning, you can determine the feasibility of your idea and take steps towards launching a successful business.

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1. A REIT has an NOI of $15 per share. It paid a dividend of $10 per share last year
. The dividend is projected
to increase by 4 percent this year and continue to increase by 4 percent per year thereafter. Assuming that
the blended cap rate is 9.75 percent and the required rate of return is 10.5 percent, what would the net
asset value (NAV) per share of the REIT be if total liabilities are $40,000 and there are 1,000 shares
outstanding?

Answers

The net asset value per share of the REIT would be $105.71.

Data and Calculations:

Net operating income (NOI) = $15 per share

Outstanding number of shares = 1,000

Total liabilities = $40,000

REIT's blended cap rate = 9.75%

REIT's required rate of return = 10.5%

The total net operating income (NOI) for the year = $15,000 ($15 x 1,000).

The annual interest expense on debts = $3,900 ($40,000 x 9.75%).

The net income after interest (EBT) = $11,100 ($15,000 - $3,900).

The Net asset value = $105,714 (11,100/10.5%).

Thus, the net asset value per share of the REIT would be $105.71.

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19.
Haile celebrates Christmas each year, while her husband, Pietro, grew up celebrating Hanukkah.
During their first winter season together, the couple observed a common theme between both traditions,
gift giving; cooked food that was representative of both traditions; and listened to jazz music rather than
traditional holiday music. Which strategy does this best demonstrate for adapting communication?

Answers

The strategy that best demonstrated adapting communication is B)Develop a "third culture."

What showed adapting communication?

Adapting communication refers to when people change their communication styles based on their audience and their current situation. This way, they are better able to communicate their intentions and reactions.

One way to do this is to create a third culture. This is when people from two different cultures come together and use facets of both cultures to create a new one. This way everyone feels accepted. This is was Haile and Pietro did.

Options for this question include:

A)Be mindful.B)Develop a "third culture."C)Ask questions and listen effectively.D)Become other-oriented.

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Develop a managerial report (1,000-1,250 words) summarizing your analysis of the OEI service capabilities. Make recommendations regarding the number of technicians to be used when OEI reaches 20 and then 30 customers, and justify your response. Include a discussion of the following issues in your report:

What is the arrival rate for each customer?
What is the service rate in terms of the number of customers per hour? (Remember that the average travel time of 1 hour is counted as service time because the time that the service technician is busy handling a service call includes the travel time in addition to the time required to complete the repair.)
Waiting line models generally assume that the arriving customers are in the same location as the service facility. Consider how OEI is different in this regard, given that a service technician travels an average of 1 hour to reach each customer. How should the travel time and the waiting time predicted by the waiting line model be combined to determine the total customer waiting time? Explain.
OEI is satisfied that one service technician can handle the 10 existing customers. Use a waiting line model to determine the following information: (a) probability that no customers are in the system, (b) average number of customers in the waiting line, (c) average number of customers in the system, (d) average time a customer waits until the service technician arrives, (e) average time a customer waits until the machine is back in operation, (f) probability that a customer will have to wait more than one hour for the service technician to arrive, and (g) the total cost per hour for the service operation.
Do you agree with OEI management that one technician can meet the average 3-hour service call guarantee? Why or why not?
What is your recommendation for the number of service technicians to hire when OEI expands to 20 customers? Use the information that you developed in Question 4 (above) to justify your answer.
What is your recommendation for the number of service technicians to hire when OEI expands to 30 customers? Use the information that you developed in Question 4 (above) to justify your answer.
What are the annual savings of your recommendation in Question 6 (above) compared to the planning committee's proposal that 30 customers will require three service technicians? (Assume 250 days of operation per year.) How was this determination reached?

Answers

The purpose of this research is to examine the service proficiency of OEI and suggest suitable  staffing levels for accommodating a growing clientele of 20 and 30.

1. Arrival Rate for Each Customer:  1.25 customers per hour.

2. Service Rate in Terms of Customers per Hour: 1/3 customers per hour.

3. Travel Time and Waiting Time: The waiting time starts from the moment the customer contacts OEI until the machine is back in operation, including both travel and repair time.

What is the managerial report

1. Arrival Rate for Each Customer:  1.25 customers per hour.

Based on historical data, the arrival rate for each customer is calculated by dividing the total number of customers by the total time. let us say that OEI receives an average of 10 customers per day, and the service operates for 8 hours a day. So, the arrival rate per customer is:

10 customers / 8 hours

= 1.25 customers per hour.

2. Service Rate in Terms of Customers per Hour: 1/3 customers per hour.

The service rate takes into account the time required to complete a repair, including travel time. OEI estimates that each service call takes approximately 1 hour for travel time and 2 hours for the actual repair. So, the service rate is:

1 customer / 3 hours

= 1/3 customers per hour.

3. Travel Time and Waiting Time:

OEI is different from traditional waiting line models since service technicians need to travel an average of 1 hour to reach each customer. In this case, the travel time and waiting time predicted by the waiting line model should be combined to determine the total customer waiting time.

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there might be times your boss allows you to work from home.having the permission to work from home,you just took some office supplies anyway you are using it for work from home​

Answers

Uhm is there a question or are you just stating this lol

At which stage of project management do you need to discuss and clarify doubts about the project with the client?
А. risk mitigation
B. project Initiation
C. project planning
D. project execution

Answers

Answer:

C. Project Initiation

Explanation:

You typically should sort out all questions and concerns about a project to a client before the actual work on the project begins. Project Initiation is sort of pre-planning: it is pitching an idea to a client.

Risk mitigation is esentially risk management, or fixing problems after they arise.

Project planning is the beginning of the project where you map out the path you'd take to execute the idea.

Project execution is the actual work that is done to complete the project.

Answer:

B. project initiation

(got it right on edmentum)

be sure to check the picture below fro more secure to getting this question right

Explanation:

At which stage of project management do you need to discuss and clarify doubts about the project with

NEED HELP ASAP
In the circular flow diagram with government, what does the government provide directly to firms?
A. expenditures
B. factors of production
C. taxes
D. goods and services

Answers

In the circular flow diagram, the government provides goods and services directly to firms. The correct option is D.

In the circular flow diagram, the government provides goods and services directly to firms. This is represented by the flow of resources from the government sector to the business sector.

The government plays a significant role in the economy by providing public goods and services that are necessary for the functioning of the society as a whole.

Public goods include infrastructure projects like roads, bridges, and public utilities, as well as services such as defense, law enforcement, and education.

These goods and services are not typically provided by private firms, so the government steps in to ensure their provision.

By supplying goods and services directly to firms, the government facilitates the production process and supports the overall functioning of the economy.

This enables businesses to operate efficiently and effectively, contributing to economic growth and development.

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What companies value comparative advantage in their business decisions?

Answers

A favorable environment for producing a certain type of good gives a company a comparative advantage in producing that good.

What is an comparative advantage?

The ability of an economy to produce a specific good or service at a lower opportunity cost than its trading partners is referred to as comparative advantage. The concept of comparative advantage is used to explain why companies, countries, or individuals benefit from trade.

A variety of factors influence comparative advantage. A comparative advantage allows a company to lower its finished product prices, potentially leading to more sales. Before designing and manufacturing products, a company should determine which ones have a comparative advantage.

Therefore, companies value favorable environment as an comparative advantage in their business decisions.

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5. Managers are strictly required to properly understand the role of Information Systems in their organization. Failure to do so might have adversary effects on the existence of their organization. In relation to role of IS in organization, there are practical examples where IS has created a situation to replace roles organizations have assumed for years in Ethiopian business environment. Mention at least two organizations IN Ethiopia whose role has been replaced/ threatened by IS.

Answers

In the Ethiopian business environment, two organizations whose roles have been replaced or threatened by Information Systems (IS) are:

The Roles that have been replaced

Ethio Telecom: The state-owned telecommunications company in Ethiopia has faced significant challenges due to the emergence of IS. With the advent of mobile banking and digital communication platforms, customers can now perform transactions and communicate directly using their smartphones, reducing their reliance on traditional telecommunication services provided by Ethio Telecom.

Traditional banking institutions: IS advancements have led to the rise of mobile banking and digital payment systems in Ethiopia. This has threatened the traditional role of brick-and-mortar banks, as customers can now perform banking activities such as transfers, payments, and account management through online platforms and mobile apps, reducing the need for physical bank visits.

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ILL GIVE BRAINLIEST!! HELP ASAP!!


Type the correct answer in the box. Spell all words correctly.

Which source of funds refers to the money raised by corporations through stock markets?

_______ refers to the money raised by corporations through stock markets?

Answers

Answer:

Equity Capital or equity funding refers to the money raised by corporations through stock markets

Explanation:

Answer: Capital Market

Explanation: plato

1. Some businesspeople believe that elimination agents and wholesalers reduce their operating expenses. Discuss the opportunity costs associated with eliminating intermediaries.

Answers

1. While eliminating intermediaries may result in reduced operating expenses, businesses need to weigh these savings against the associated opportunity costs. These costs may include the loss of expertise and value-added services, additional responsibilities and expenses, and reduced customer access to products.

Eliminating intermediaries such as elimination agents and wholesalers reduce operating expenses, but it also has associated opportunity costs that businesses need to consider. One of the primary costs is the loss of the expertise and value-added services that intermediaries offer to businesses and customers. Eliminating intermediaries may result in businesses taking on additional responsibilities and expenses such as marketing, distribution, and logistics.

This may result in the need for additional staff and resources to ensure that products reach customers on time. Furthermore, eliminating intermediaries may also result in reduced customer access to products, as intermediaries are often responsible for finding new markets and customer segments. In this case, businesses may need to invest additional resources to market and promote their products to reach new customers.

In conclusion, while eliminating intermediaries may result in reduced operating expenses, businesses need to weigh these savings against the associated opportunity costs. These costs may include the loss of expertise and value-added services, additional responsibilities and expenses, and reduced customer access to products.

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(Table: CPI) Suppose only three goods are produced in this economy: bread, laptops, and movies. Calculate the CPI of 2012, using 2008 as the base year.
A.
95
B.
112.5
C.
100
D.
81.9

Answers

Your answer is c 100 have a nice day

A free enterprise system provides individuals the opportunity to make their own economic decisions, without restrictions from the government. It allows the supply and demand of consumers to determine the success or failure of an economic endeavor. As a result, some business owners have become successful, while others have not.
In an essay, you will choose an entrepreneur and argue whether the free enterprise system was necessary for that individual to make an impact on the business world.

Answers

The entrepreneur that is chosen for this argument is Steve Jobs. Steve Jobs was one of the co-founders of Apple, which is now a trillion-dollar company.

The free enterprise system was necessary for Steve Jobs to make an impact on the business world. Steve Jobs did not come from a wealthy background, but he had a passion for technology. The free enterprise system allowed him to start a business without any restrictions from the government.

He was able to create innovative products, such as the iPhone and iPad, and sell them to consumers. The supply and demand of consumers determined the success or failure of his business endeavors. Steve Jobs was able to create a successful company and become a billionaire because of the free enterprise system.

Without the free enterprise system, Steve Jobs may not have been able to start a successful business and make an impact on the business world.

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BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $160,200 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% of the first $7,000 paid to its employee and SUTA taxes are 3% of the first $8,500 paid to its employee.

Gross Pay through August 31 Gross Pay for September
a. $ 6,400 $ 800
b. 18,200 2,100
c. 153,900 8,000
Compute BMX’s amounts for each of these four taxes as applied to the employee’s gross earnings for September under each of three separate situations (a), (b), and (c). (Round your answers to 2 decimal places.)

Answers

To calculate BMX Company's amounts for each of the four taxes as applied to the employee's gross earnings for September, we will use the provided tax rates and the gross pay for each situation.

Situation (a):

Gross Pay for September: $800

FICA Social Security taxes: 6.2% of the first $160,200 = 0.062 * $800 = $49.60

FICA Medicare taxes: 1.45% of gross pay = 0.0145 * $800 = $11.60

FUTA taxes: 0.6% of the first $7,000 = 0.006 * $800 = $4.80

SUTA taxes: 3% of the first $8,500 = 0.03 * $800 = $24.00

Situation (b):

Gross Pay for September: $2,100

FICA Social Security taxes: 6.2% of the first $160,200 = 0.062 * $2,100 = $130.20

FICA Medicare taxes: 1.45% of gross pay = 0.0145 * $2,100 = $30.45

FUTA taxes: 0.6% of the first $7,000 = 0.006 * $2,100 = $12.60

SUTA taxes: 3% of the first $8,500 = 0.03 * $2,100 = $63.00

Situation (c):

Gross Pay for September: $8,000

FICA Social Security taxes: 6.2% of the first $160,200 = 0.062 * $8,000 = $496.00

FICA Medicare taxes: 1.45% of gross pay = 0.0145 * $8,000 = $116.00

FUTA taxes: 0.6% of the first $7,000 = 0.006 * $8,000 = $48.00

SUTA taxes: 3% of the first $8,500 = 0.03 * $8,000 = $240.00

Please note that the calculations are based on the information provided, and the amounts are rounded to 2 decimal places.

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