The word variable comes from a root word "vary" which means to differ or not constant. Now, applying this to the given item, the variable expense means the costs that changes. The answer is therefore the fourth choice.
Answer:
$2142.57
Explanation:
-The first step is to calculate the security tax and Medicare tax
If the total earning of Portia grant for the month of January is $8,838 then the security tax and FICA Medicare tax can be calculated as follows
Security tax= 6.2/100×8,838
= 0.062×8,838
= 547.95%
Medicare tax= 1.45/100×8,838
= 0.0145×8,838
= 128.15%
-The next step is to calculate the total amount of taxes
The SUTA and FUTA taxes is the amount of tax that is paid by the owner of the organization and as such they are not included in Portia's earning
If the Federal income tax withheld is $1,466.47 then, the total amount of tax withheld from Portia's earning can be calculated as follows
= 547.95+128.15+1,466.47
= $2142.57
Hence the total amount of taxes withheld from Portia's earning is $2142.57
Answer:
Tom paid $23.54 while his cousin spent $18.72. Tom spent more on tax $.082 more than his cousin.
Explanation:
Tom
Cost of shirt = $22
Sales tax = 7%
Total amount paid = 22 + (7% × 22)
= 22 + 1.54
= $23.54
Tom's cousin
Cost of shirt = $18
Sales tax = 4%
Total amount paid = 18 + (4% × 18)
= 18 + 0.72
= $18.72
Tom spent more on tax as he spent $1.54 as against his cousin's $0.72.
