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lawyer [7]
3 years ago
10

Mayberry Ice Cream Shoppe has $1,500.00 in wages, $93.00 in Social Security withholding, $21.75 in Medicare withholding, $200.00

in federal income tax withholding, and $80.00 in state income tax withholding. The federal unemployment tax rate is 0.8%. In this scenario, what is the Medicare Tax Payable for the pay period?
Business
1 answer:
Elza [17]3 years ago
8 0

Answer: The answer is $21.75

Explanation:

The rules says that employees will pay 1.45%, while the employers will pay 1.45% total is 2.9%

The employers will calculate 1.45% of the wages as withholding tax and pay it to the tax authority.

Therefore to calculate the Medicare tax payable for the pay period we use the formula

Wages × Medicare tax rate

Since wages = $1,500.00, Medicare tax rate = 1.45% ( 1.45÷100 = 0.0145)

1,500.00 × 0.0145

= 21.75

Therefore the Medicare tax payable for the pay period is $21.75

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The reason fast food restaurants often are found in close proximity to each other is a. they enjoy competition b. location clust
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a car is purchased for $43,000. each year it loses 25% of its value. after how many years will the car be worth $9200 or less? (
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After a car is purchased at $43000 and looses 25% worth every year then the car will be worth $9200 or less after four(4) years.

What does Purchase mean?

Purchase is a term used to refer to the acquisition of goods or services in exchange for money. It is a common business transaction and can involve buying something outright or entering into an agreement to pay for it over time.

What does Services mean?

Services is a broad term that refers to any type of work or activity performed to meet the needs of a customer. Services can range from professional services like accounting or consulting to tangible products like food or clothing. Services are typically intangible in the sense that they cannot be touched, felt, or seen, but the benefits they provide are very real.

As per the price of the car which is $43,000  and it looses 25% each year which is $10750. From this we come to know that the car will  be worth of $9200 or less within 4 years.

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