Please explain how to calculate this to get an answer like the key above for number 105, 112, 113, 114, and 115Chapter : CURRENT LIABILITIES AND PAYROLL ACCOUNTING105. Neer Company sells 2,000 units of its product for $500 each. The selling price includes a one- year warranty on parts. It is expected that 3% of the units will be defective and that repair costs will average $50 per unit. In the year of sale, warranty contracts are honored on 40 units for a total cost of $2,000. What amount will be reported on Neer Company's balance sheet as Estimated Warranty Liability on December 31, 2008?112. Sue Stein's regular rate of pay is $12 per hour with one and one-half times her regular rate for any hours which exceed 40 hours per week. She worked 48 hours last week. Therefore, her gross wages were113. Assuming a FICA tax rate of 8% on the first $90,000 in wages, and a federal income tax rate of 20% on all wages, what would be an employee's net pay for the year if he earned $100,000 for the year?114. Most companies involved in interstate commerce are required to compute overtime at115. Sue Rice has worked 44 hours this week. She worked in excess of 8 hours each day. Her regular hourly wage is $15 per hour. What are Sue's gross wages for the week? (The company Sue works for is in compliance with the Fair Labor Standards Act.)

Near Company sells 2.000 units of Its product for $500 each. The selling price includes a one- year warranty on parts. It is expected that 3% of the units will be defective and mat repair costs will average $50 per unit. In the year oi sale, warranty contracts are honored on 40 units for a total cost of 52.000. 105. 112. 113. 11-1. 115. What amount will be reported on Near Company's balance sheet as Estimated Warranty Liability on December 31. 2000? a. $2,000 0. $3,000 0. $1.000 d. It cannot be detemined. Sue Stein's regular rate of pay is $12 per hour with one and one-half times her regular rate for any hours which exceed 40 hours per week. She worked 40 hours last week. Theretone. her gross wages were a. 55m. to. $400. c. 3024. d. $004. Assuming a FICA tax rate of 0% on the rst 500.000 in wages. and a federal income tax rate of 20% on all wages, what would be an employee's net pay for the year if he earned $100,000 for the year? a. 502,000 to. $?2.000 0. $30,000 0. $?2.000 Most companies involved in interstate commerce are required to compute overtime at a. the worker's regular hourly wage. o. 1.25 times the worker's regular hourty wage. a. 1.5 times the worker's regular houlty wage. d. 2.5 times the worker's regular houlty wage. Sue Ftice has worked 44 hours this week. She worked in excess of 0 hours each day. Her regular hourly wage is $15 per hour. What are Sue's gross wages for the week? {The company Sue works for is in compliance with the Fair Labor Standards Act} a. $560 b. $090 c. $090 0. FEB