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valina [46]
4 years ago
10

Marsha Mellow’s weekly gross earnings for the week ended May 23 were $1,250, and her federal income tax withholding was $201.65.

Assuming that the social security rate is 6% and Medicare is 1.5% of all earnings, what is Mellow’s net pay? If required, round your answer to two decimal places.
Business
1 answer:
Nataliya [291]4 years ago
8 0

Answer:

$954.60

Explanation:

Gross Pay: Gross income for an individual, also known as gross pay, is the individual's total pay from his employer before taxes or other deductions.

Net Pay: Gross income for an individual, also known as gross pay, is the individual's total pay from his employer after taxes or other deductions.

Particulars       Amount   Amount

Gross Pay                          $1,250

Withholding deduction:

Income tax       <em>($201.65)</em>

Social Security  <em>(1,250*0.06 = $75)</em>

Medicare tax <em>(1,250*0.015 = $18.75)</em>

Net pay                                           $954.60  

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Answer:

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3 years ago
A company that produces a single product had a net operating income of $91,000 using variable costing and a net operating income
ololo11 [35]

Answer:

$7,247.05

Explanation:

The computation of the inventory level is shown below:

But before that first we have to find out the fixed cost per unit which is

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3 0
3 years ago
Roddy Richards invested​ $12014.88 in Wolverine Meat Distributors​ (W.M.D.) five years ago. The investment had yearly arithmetic
KengaRu [80]

Answer: 3.96%

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Calculating it therefore would be,

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= 19.8/5

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There seems to be an error in the multiple choice.

3.96 % is the arithmetic average return of Roddy​ Richard's investment based on the information we have but it is not listed.

8 0
3 years ago
Which of the following is not an exemption for following the disclosure requirements under the Federal Privacy Act? a. Congress
DedPeter [7]

Answer:

The correct answer is (C)

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