Reference no: EM132807017

Questions -

Q1. Which of the following is most likely to be a fixed cost?

1. Cost of wheels for a lawn mower manufacturer

2. Supplies used by the housekeeping staff that cleans hotel rooms

3. Rent on a factory building

4. Cost of labor for cashiers at a retail store

Q2. Cost of goods sold in 2017 for Reno Parts Company totaled $4,530,000. If the gross margin percentage is 56%, how much are sales?

1. None of these answer choices are correct.

2. $8,089,286

3. $7,066,800

4. $10,295,454

Q3. Ann Parks has worked 44 hours this week. Six of these 44 hours were on the weekend. Her regular hourly wage is $15 per hour with one and one-half times her regular rate for weekend work. What are Ann's gross wages for the week?

1. $660

2. $705

3. $795

4. $990

Q4. An investment that costs $120,000 is estimated to reduce cash operating costs by $40,000 per year for 4 years. The required rate of return is 10 percent. Determine the payback period, assuming inflation is negligible.

1. About 2.92 years

2. About 2.66 years

3. About 3 years

4. About 2.79 years

Q5. The employer is currently required to withhold a premium of 1.88% on insured earnings to a maximum earnings ceiling of $49,500. Dallas Reimer earns $1,000 per week. What amount of Employment Insurance (EI) will be deducted from Dallas's pay each week?

1. $25.62

2. $839.97

3. $0

4. $18.80