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Anna [14]
3 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]3 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

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Bumek [7]

Answer:

Cost per equivalent unit: $60

Explanation:

Cost per equivalent unit = (Cost of Beginning Work in Progress Inventory + Total production cost during the period) / Equivalent Units of Production (EUP)

Total Production Cost = $90,000

Equivalent Units of production (EUP) = 1,300 + 400 x 50% = 1,500 units

Cost per equivalent unit: $90,000 / 1,500 units = $60

7 0
3 years ago
Nielsen Auto Parts had beginning net fixed assets of $218,470 and ending net fixed assets of $209,411. During the year, assets w
balu736 [363]

Answer:

Capital Expenditure during the year 40,706

Explanation:

opening assets                        =                  218470

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less: Disposal of assets           =                   (6943)

less: Closin Assets                   =                   (209411)

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8 0
2 years ago
Matthew decides to buy expensive designer jeans. Less expensive jeans are available, but the added cost of the designer brand is
kicyunya [14]

Matthew decides to buy expensive designer jeans. Less expensive jeans are available, but the added cost of the designer brand is worth it to Matthew most likely because His preference is for designer labels, since the assertions made by the other manufacturers, which claim that designer trousers are less expensive, are illogical. This is further explained below.

<h3>What is the cost?</h3>

Generally, payment is required before it can be obtained or completed.

In conclusion, Affluent designer jeans are Matthew's choice. There are cheaper jeans out there, but Matthew most certainly prefers designer labels since the arguments of the other manufacturers, who say that designer pants are less costly, are irrational.

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5 0
2 years ago
Sally has been working really hard lately and asks her manager for a raise. Her manager tells her that she is already the highes
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C. hacking

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Malware attack: is a type of hacking attack which after being carried out, cripple activities of an entire organization including its business associate, government parastatals, customers etc in exchange for money.

Code break: This is where a secret software is installed to allow users hit a company' s data base through strings.

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3 0
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ira [324]
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3 0
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