A company's had fixed interest expense of $3,300, its income before interest expense and income taxes is $16,200, and its net income is $6,600. The company's times interest earned ratio equals:

2.45.

0.50.

4.91.

2.00.

0.20.

A company's income before interest expense and income taxes is $225,000 and its interest expense is $75,000. Its times interest earned ratio is:

2.67

0.99

3.00

0.33

1.68

A company's fixed interest expense is $9,000, its income before interest expense and income taxes is $38,250. Its net income is $11,850. The company's times interest earned ratio equals:

0.235.

0.76.

3.23.

4.25.

0.31.

An employee earned $43,600 during the year working for an employer when the maximum limit for Social Security was $117,000. The FICA tax rate for Social Security is 6.2% and the FICA tax rate for Medicare is 1.45%. The employee's annual FICA taxes amount is:

$632.20.

$2,703.20.

$6,670.80.

$6,670.80.

$3,335.40.

An employee earned $5,300 working for an employer in the current year. The current rate for FICA Social Security is 6.2% payable on earnings up to $117,000 maximum per year and the rate for FICA Medicare 1.45%. The employer's total FICA payroll tax for this employee is:

$405.45.

Zero, since the FICA tax is a deduction from an employee's pay, and not an employer tax.

$76.85.

$328.60.

$810.90.

An employee earned $62,400 during the year working for an employer. The FICA tax rate for Social Security is 6.2% and the FICA tax rate for Medicare is 1.45%. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. What is the amount of total unemployment taxes the employee must pay?

$101.50

$56.00

$378.00

$434.00

$0.00

Employees earn vacation pay at the rate of one day per month. During the month of July, 16 employees qualify for one vacation day each. Their average daily wage is $91 per day. What is the amount of vacation benefit expense to be recorded for the month of July?

$16.0

$14,560.0

$1,456.0

$91.0

$145.6

A company estimates that warranty expense will be 4% of sales. The company's sales for the current period are $233,000. The current period's entry to record the warranty expense is:

Debit Warranty Expense $9320 credit Sales $9320.

Debit Warranty Expense $9320 credit Estimated Warranty Liability $9320.

Debit Estimated Warranty Liability $9320 credit Warranty Expense $7400.

Debit Estimated Warranty Liability $9320 credit Cash $9320.

No entry is recorded until the items are returned for warranty repairs.

A company has a selling price of $2,050 each for its printers. Each printer has a 2 year warranty that covers replacement of defective parts. It is estimated that 3% of all printers sold will be returned under the warranty at an average cost of $155 each. During November, the company sold 35,000 printers, and 450 printers were serviced under the warranty at a total cost of $60,000. The balance in the Estimated Warranty Liability account at November 1 was $31,500. What is the company's warranty expense for the month of November?

$69,750

$60,000

$81,375

$162,750

$28,500

An employee earns $6,500 per month working for an employer. The FICA tax rate for Social Security is 6.2% and the FICA tax rate for Medicare is 1.45%. The current 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 employee has $222 in federal income taxes withheld. The employee has voluntary deductions for health insurance of $190 and contributes $95 to a retirement plan each month. What is the amount of net pay for the employee for the month of January? (Round your intermediate calculations to two decimal places.)

$5,495.75

$5,590.00

$5,144.75

$5,092.75

$5,443.75