"big burger has 100,000 shares of common stock outstanding at a market price of $40 a share. there are 10,000 shares of 8 percent preferred stock outstanding at a market price of $30 a share. the firm has 1000 bonds outstanding with a face value of $1,000 and a market price of $960. the firm’s tax rate is 34 percent. what weight should be assigned to the cost of common stock when computing the weighted average cost of capital? "

Alamar petroleum company offers its employees the option of contributing retirement funds up to 5% of their wages or salaries, with the contribution being matched by alamar. the company also pays 80% of medical and life insurance premiums. deductions relating to these plans and other payroll information for the first biweekly payroll period of february are listed as follows: wages and salaries $ 2,800,000 employee contribution to voluntary retirement plan 92,000 medical insurance premiums 50,000 life insurance premiums 9,800 federal income taxes to be withheld 480,000 local income taxes to be withheld 61,000 payroll taxes: federal unemployment tax rate 0.60 % state unemployment tax rate (after futa deduction) 5.40 % social security tax rate 6.20 % medicare tax rate 1.45 % required: prepare the appropriate journal entries to record salaries and wages expense and payroll tax expense for the biweekly pay period. assume that no employee's cumulative wages exceed the relevant wage bases for social security, and that all employees' cumulative wages do exceed the relevant unemployment wage bases.