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A company sells computers at a selling price




Question;A company sells computers at a selling price of $1,450 each. Each computer has a 2 year warranty that covers replacement of defective parts. It is estimated that 3% of all computers sold will be returned under the warranty at an average cost of $143 each. During November, the company sold 23,000 computers, and 330 computers were serviced under the warranty at a total cost of $46,000. The balance in the Estimated Warranty Liability account at November 1 was $25,500. What is the company's warranty expense for the month of November?$49,335$98,670$46,000$47,190$20,5002.Phil Phoenix is paid monthly. For the month of January of the current year, he earned a total of $8,488. The FICA tax for social security is 6.2% and the FICA tax rate for Medicare is 1.45%. The FUTA tax rate is 0.8%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. The amount of federal income tax withheld from his earnings was $1,408.37. His net pay for the month is (Round your intermediate calculations and final answer to two decimal places):$6,566.00$6,430.29$5,157.63$5,996.29$6,956.55


Paper#42024 | Written in 18-Jul-2015

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