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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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Answer:

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Explanation:

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Therefore according to the given situation, the professional that is closely linked with the reputation of the company is public relations specialist

7 0
3 years ago
At September 1, 2022, Coronado Industries reported Retained Earnings of $397620. During the month, Coronado generated revenues o
Angelina_Jolie [31]

Answer:

Closing retained earning is $414,540

Explanation:

The Retained Earnings figure can be calculated using the following equation:

Closing Retained Earnings = Opening Retained Earnings + (Sales - Expenses - Dividends)

Here

Opening balance of Retained Earning is $397,620

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So by putting values, we have:

Closing Retained Earnings = $397,620 + ($56,400 - $33,840 - $5,640)

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8 0
3 years ago
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UkoKoshka [18]

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It was realized that having a more professional focus on running events could bring about more funds and also bring about more intersted spectators.

3 0
3 years ago
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tino4ka555 [31]
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