Holden Simpson manages a Dairy World drive-in. His straight-time pay is $14 per hour, with time-and-a-half for hours in excess of 40 per week. Simpson's payroll deductions include withheld income tax of 20%, FICA tax, and a weekly deduction of $5 for a charitable contribution to United Way Simpson worked 57 hours during the week. (Click the icon to view payroll tax rate information) Requirements 1. Compute Simpson's gross pay and net pay for the week. Assume earnings to date are $10,000.
2. Journalize Dairy World's wages expense accrual for Simpson's work. An explanation is not required.
3. Journalize the subsequent payment of wages to Simpson.
Requirement
1. Compute Simpson's gross pay and net pay for the week.
2. Assume earnings to date are $10,000 (Round all amounts to the nearest cent) Begin by computing Simpson's gross pay for the week.

Assuming no direct factory overhead costs (i.e., inventory carry costs) and $3 million dollars in combined promotion and sales budget, the deft product manager wishes to achieve a product contribution margin of 35%. given their product currently is priced at $35.00, what would they need to limit the material and labor costs to?

Presented below is a list of possible transactions. analyze the effect of the 18 transactions on the financial statement categories indicated. transactions assets liabilities owners’ equity net income 1. purchased inventory for $80,000 on account (assume perpetual system is used). 2. issued an $80,000 note payable in payment on account (see item 1 above). 3. recorded accrued interest on the note from item 2 above. 4. borrowed $100,000 from the bank by signing a 6-month, $112,000, zero-interest-bearing note. 5. recognized 4 months’ interest expense on the note from item 4 above. 6. recorded cash sales of $75,260, which includes 6% sales tax. 7. recorded wage expense of $35,000. the cash paid was $25,000; the difference was due to various amounts withheld. 8. recorded employer’s payroll taxes. 9. accrued accumulated vacation pay. 10. recorded an asset retirement obligation. 11. recorded bonuses due to employees. 12. recorded a contingent loss on a lawsuit that the company will probably lose. 13. accrued warranty expense (assume expense warranty approach). 14. paid warranty costs that were accrued in item 13 above. 15. recorded sales of product and related service-type warranties. 16. paid warranty costs under contracts from item 15 above. 17. recognized warranty revenue (see item 15 above). 18. recorded estimated liability for premium claims outstanding.

(a) what do you think will happen if the price of non-gm crops continues to rise? why? (b) what will happen if the price of non-gm food drops? why?