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V125BC [204]
3 years ago
11

You work at the peacock blue store 40 hours/week over five days at a rate of $10.25/hour. Deductions are fica (7.65%), federal w

ithholding (15%), and state withholding (10%). Your expenses are transportation at $5.25/day, lunch at $3.85/day, and black slacks required for work at $19.95. How much is your discretionary income for one week?
Mathematics
2 answers:
kompoz [17]3 years ago
5 0

Weekly salary = 40\times10.25=410

Deductions are as follows:

FICA = 7.65% , amount becomes 0.0765\times410=31.365

Federal withholding = 0.15\times410=61.5

State withholding = 0.10\times410=41

Hence, total deductions are = 31.365+61.5+41=133.865

Daily transportation and lunch costs 5.25+3.85=9.1 per day

Weekly expense for food and transportation = 9.1\times5=45.5

Cost of black slacks = $19.95

So, total expenses including deductions are = 133.865+45.50+19.95=199.315

Now, the weekly discretionary income is =410-199.315 = $210.685 ≈ $210.69

Hence, the answer is $210.69.

Reptile [31]3 years ago
3 0

210.69 is the answer.

Sorry for not explaining my work, in a bit of a hurry. I had this question back when i was in school.


Hope this helps & good luck. :)

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