Problem 11-05A (Video) For the year ended December 31, 2020, Sunland Electrical Repair Company reports the following summary payroll data. Gross earnings: Administrative salaries Electricians' wages Total $186,000 390,000 $576,000 Deductions: FICA taxes Federal income taxes withheld State income taxes withheld (3%) United Fund contributions payable Health insurance premiums Total $38,546 166,500 17,280 28,800 18,000 $269,126 Sunland's payroll taxes are Social Security tax 6.2%, Medicare tax 1.45%, state unemployment 2.5% (due to a stable employment record), and 0.8% federal unemployment. Gross earnings subject to Social Security taxes of 6.2% total $487,000, and gross earnings subject to unemployment taxes total $124,000. No employee exceeds the $127,200 limit related to FICA taxes. (a) Prepare a summary journal entry at December 31 for the full year's payroll. (b) Journalize the adjusting entry at December 31 to record the employer's payroll taxes. No. Account Titles and Explanation Debit Credit (a) (b) (c) The W-2 Wage and Tax Statement requires the following dollar data. Complete the required data for the following employees. (Round answers to 0 decimal places, e.g. 5,275.) Employee Wages, Tips, Other Compensation Federal Income Tax Withheld State Income Tax Withheld Maria Sandoval $58,000 $28,420 FICA Wages FICA Tax Withheld Jennifer Mingenback 28,000 10,920

P21-31A (book/static) Question Help Professional Pool Cleaning Service provides pool cleaning Services to residential customers. The company has three employees, each assgned to specific customers. The company considers each employee's territory as a business segment. The company incurs variable costs that include the employees wages, pool chemicals, and gas for the service vans Fixed costs include depreciation on the service vans Following is the income statement for the month of July Click the icon to view the income statement) Read the requirements Requirement 1. Calculate the contribution margo loreach e s segment Contribution margin ratio Burman Mech Frond Choose from any list or enter any number in the input fields and then click Check Answer Check Answer 4 parts 4 remaining

Option #2: Comprehensive Decision Making Restaurants offer a variety of menu items which have different sizes, ingredients, packaging, and demand. In addition, made-to-order restaurants go one step further and may have different renditions of the same menu items based on how a customer orders them. Take for example, Chipotle Mexican Grill, for the same price, steak tacos could be “crispy” or “soft”, may have white, brown, or no rice, may or may not contain one of three types of salsa, could have cheese or sour cream or neither, and may or may not have lettuce, black or pinto beans, or other vegetables. Combinations for that one menu item are virtually endless! Profit margins in the restaurant industry are small, and operating costs are high. Variances on budgeted amounts can be unwelcome interrupters in this business model. Variance analysis and budget planning are essential for survival in the business. This project option will allow you to apply your knowledge of financial analysis to the restaurant industry to problem solve and plan for the future. 1. Select a nationally recognized fast casual restaurant chain that offers made-to-order menu items, except a restaurant primarily engaged in making pizza. Some examples would be Chipotle Mexican Grill, Five Guys, Noodles & Co., Panera Bread, and Dunkin Donuts. a. For the restaurant chain you have selected, you will need to research and locate company information, menus, and financial information to assist you with the requirements of this project. b. Not every chain will have the same financial information available, so it may be necessary to generate your own “fictitious” data in order to complete the required tasks. If you do create data, be VERY CLEAR in your computations which data is taken from publicly available information (provide the sources) and which data has been generated by you. 2. Choose 1 menu item from the menu of the restaurant. Familiarize yourself with the product including the ingredients, processing method, general selling price in your area, packaging requirements (if applicable), and accessories (straw, sweetener, fork/knife, condiments, etc.). In Module 3, you will be submitting this information as part of your Portfolio Project milestone. 3. You have been notified by your purchasing department that the availability of one of the substantial ingredients of your menu item is impacted by an unusually cold and snowy winter for a period of at least 6 months. The cost of the ingredient will now increase by 30%. This unexpected supply chain issue has created havoc for budgeted profits and costs. Create a “before and after” computation scenario to show how the impact of this change will impact operating income assuming all other variables remain constant. (See textbook Exhibit 14-1 for a sample computation format.) a. In a business with slim margins, 30% is tough to absorb even on a short run basis. How might your company be able to react to the change? Are there opportunities to: offset this extra cost with a price increase, maintain gross margin, or offer the product to consumers at the same price currently? Model alternatives and present your calculations and solution in a supporting table included in your paper. 4. A good reliable labor force is tough to find for the fast-casual restaurant industry. During the summer, the company has an easier time finding help, but when school is in session, many students are unavailable for employment. Thus, the company occasionally has to increase wages in order to attract employees. Assume the company has to increase pay by $1.25 per hour over minimum wage for the foreseeable future. Use the same “before” scenario from 3.a. and run an “after” scenario for the increased wages to show the impact on operating income. 5. In a Microsoft Word document, develop a project for this company that will require the purchase of additional equipment, in a short-term decision-making scenario. Research the cost of this equipment and develop an expectation regarding the cost savings for the company. Describe it fully and compute an incremental analysis for the company. Present your calculations in a supporting table included in your paper. Your paper should meet the following requirements: ? Minimally 7-10 pages in length (not including the title page and the reference page). ? Assignment should follow APA guidelines with respect to use of subheadings, 1” margins, and double spacing. ? References should include your textbook plus 2 additional credible academic references. All sources used, including your textbook must be referenced; paraphrased and quoted material must have accompanying citations and cited per APA guidelines.

The Quick Chips Company, a fast-food manufacturer, began operations in January 2004. It issued 500,000 shares of $0.25 par value common stock. The stock sold for $20 per share. There are 600,000 shares authorized. In 2006, the company repurchased 15,000 shares of stock at a cost of $26 per share. Quick Chips’s net income and cash dividend payments have been as follows:Draft the stockholders’ equity section of Quick Chips’s balance sheet for the years ended December 31, 2005 and2006.
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The Quick Chips Company a fast food manufacturer began operati