1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Anna [14]
4 years ago
13

Phildell Phoenix is paid monthly. For the month of January of the current year, he earned a total of $8,288. The FICA tax rate f

or social security is 6.2% and the FICA tax rate for Medicare is 1.45%. The 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 amount of Federal Income Tax withheld from his earnings was $1,375.17. What is the total amount of taxes withheld from the Phoenix's earnings?Select one:a. $3,097.17b. $2,443.21c. $2,009.21d. $1,722.00e. $1,495.36
Business
1 answer:
AysviL [449]4 years ago
3 0

Answer:

Total deduction                               2,443.21

Explanation:

8,288

x 6.20% Sccial Security                      513.856

x 1.45% Medicate                                120.176

x 6.20% FUTA&SUTA  (for 7,000)       434              

Income tax witheld                           1,375.17

Total deduction                               2,443.21

We will multiply his taxable wages for period by the tax rate.

We must noticew FUTA and SUTA applies fdor the first 7,000 only so we multiply by 7,000 not by 8,288

You might be interested in
Please help for my career class please
Julli [10]
Do you need help finding a career or do you need help picking a dream I don’t understand what you need help with but I can help
5 0
3 years ago
Read 2 more answers
Durai joined in organization for a fortnight and he had conversation with
Elenna [48]

Answer: n

Explanation:

n n

4 0
3 years ago
When conducting a formal marketing/sales event, there are elements that you must cover in order for your presentation to be comp
fredd [130]

There are several elements that need to be covered when conducting a formal marketing/ sales event except A. providing a list of plans that have the same star rating.

<h3>How can you be compliant when conducting a formal marketing/sales event?</h3>

It is important that several different plans are offered because consumers have different types of needs.

A complete plan presentation should also be provided to ensure that consumers know what they are getting into.

You do not however have to provide plans that have the same star ratings as the plan being presented on.

Options for this question include:

A. providing a list of plans that have the same star rating.

B. providing a complete plan presentation.

C. providing different plans

Find out more on formal sales events at brainly.com/question/24370156.

#SPJ1

3 0
2 years ago
The credit balance in cash short and over at the end of an accounting period is reported as?
AVprozaik [17]

The credit balance in cash short and over at the end of an accounting period is reported as an expense on the income statement.

Income is the consumption and savings opportunity that a business captures within a specific time frame, usually expressed in money. Income is difficult to define conceptually and definitions vary by region.

The definition of income is the amount of money received by an individual, group or business during a specified period. An example income is an annual salary of $70,000.

Income is money received by an individual or business in return for providing work, producing goods or services, or investing capital. While individuals usually earn their income through wages or salaries, businesses generate income from the sale of goods or services that exceed their production costs.

Learn more about income here:brainly.com/question/25745683

#SPJ4

7 0
1 year ago
Suppose the economy's production function is ???? = ????K 0.3???? 0.7 . If K = 2000, N = 100, and A = 1, then Y = 246. If K and
densk [106]

Answer:

Y=38.8

Y will increase by 38.8

Y=246+38.8

Y=284.8

Explanation:

Y=A. F(K, L)

Y=A. K^0.3, L^0.7

Then

Y=246

A=1

K=2000

N or L=100

Solutions

200=1(2000^0.3, 100^0.7)

Now the question says both k & N are increased by 0.20

Therefore

Y=1(2400^0.3, 120^0.7)

Y=1(10.3 + 28.5)

Y=38.8

4 0
3 years ago
Other questions:
  • With ______, books don't have to be printed on paper to be distributed.
    6·1 answer
  • How many megacities (those with 5 million or more inhabitants) were there in 1950, and how many do estimates suggest there will
    13·1 answer
  • Frontier Airlines hedged the cost of jet fuel by purchasing options that allowed the airline to buy fuel at a fixed price for 2
    9·1 answer
  • How can capital budgeting tools assist in evaluating a manager who is responsible for retaining customers of a cellular telephon
    7·1 answer
  • Suppose that the rise in the price of coffee beans resulted in a large decrease in the supply of Starbucks coffee while the lowe
    14·1 answer
  • Alejandro purchased a building in​ 1985, which he uses in his manufacturing business. Alejandro used the ACRS statutory rates to
    9·2 answers
  • You are considering investing $1,000 in a complete portfolio. The complete portfolio is composed of treasury bills that pay 5% a
    10·1 answer
  • How many types of bankruptcy cases are provided for in the Bankruptcy Code?
    7·1 answer
  • Rostad Corporation applies manufacturing overhead to products on the basis of standard machine-hours. Budgeted and actual overhe
    8·1 answer
  • what is an example of an activity that would be considered a management function for an sec audit client?
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!