1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Ksivusya [100]
3 years ago
12

​Brad's gross pay for the month is $ 6 comma 400. His deduction for federal income tax is based on a rate of 22​%. He has no vol

untary deductions. His yearminustominusdate pay is under the limit for OASDI. What is​ Brad's net​ pay? (Assume a FICAlong dashOASDI Tax of 6.2​% and FICAlong dashMedicare Tax of 1.45​%. Do not round any intermediate​ calculations, and round your final answer to the nearest​ dollar.)
Business
2 answers:
Mrrafil [7]3 years ago
5 0

Answer:

$4,502.40

Explanation:

Brad's net pay equals:

gross  pay                                          $6,400.00

-federal income taxes 22%              ($1,408.00)

-Social security (OASDI) 6.2%            ($396.80)

<u>-Medicare (Fed Med/EE) 1.45%            ($92.80)  </u>

net pay*                                              $4,502.40

FICA taxes include both social security (OASDI) and medicare taxes (Fed Med/EE).

*Generally state taxes and health care premiums are also deducted, but they were not included in this question.

Lera25 [3.4K]3 years ago
3 0

Answer:

$4,502

Explanation:

​Brad's gross pay for the month is $6,400. His deduction for federal income tax is based on a rate of 22​%.

Brad's net​ pay if we assume a FICAlong - OASDI Tax of 6.2​% and FICAlong -Medicare Tax of 1.45​%. will be:

His gross pay for the month less all the statutory deductions

$6400 - [(0.22 x 6400) + (0.062 x 6400) + (0.0145 x 6400)] = $4,502

You might be interested in
Merchandise inventory is found on the balance sheet as a a. current asset. b. long-term asset. c. long-term liability. d. curren
scoray [572]

Answer:

a. current asset

Explanation:

The merchandise inventory are the goods the business sales as their main operation. They are expected to be ready to sale therefore, ready to be converted to cash within the period, therefore will be current assets.

Unless the company do an specific mention and a certain amount of goods that will expected to be sold in a period of time greater than a year, all merchandise inventory will be current. These specific units will be considered non-current as their are expecteed to be converted to cash i na period greater than 1 year.

7 0
3 years ago
Aram has plans on going to Georgia Tech to study Biomedical Engineering. Which of the following is he MOST LIKELY attempting to
lesantik [10]

Answer:

The answer is D. a higher of standard of living.

Explanation:

4 0
3 years ago
Read 2 more answers
Suppose that an economy consists of only two individuals. Trevor has $1070 available to spend on goods. He decides to purchase $
castortr0y [4]

Answer:

<em>The question option are:</em>

<em>1. For the current quarter what is the economy's income? </em>

<em>2. For the current quarter, what is the economy's expenditure? </em>

<em>3. In an economy, how are income and expenditure related?</em>

1. The economy's income for the current year is $450 because there is only one transaction that take place in the year worth of $450

2. The economy's expenditure of the current year is $450 because each transaction has two side. One is the Income, the other is Expenditure. The income is converted to expenditure.

3. In an economy, income and expenditure are related and they are equal. Each transaction has two side. One is the Income, the other is Expenditure. The income is converted to expenditure.

4 0
3 years ago
Lisa is wondering if her company is earning the income they expected to earn at the beginning of this year. She looks at to see
andre [41]

Lisa is wondering if her company is earning the income they expected to earn at the beginning of this year. She looks at to see how the money looks, while remembering that this budget does not show cash outlays. This type of budget is called Expense Budget

<h3>What is Expense Budget?</h3>
  • The Expense Budget displays the revenue and capital expenditures of several ministries and departments and provides estimates for each under "Plan" and "Non-Plan."
  • It provides a thorough study of various expenditure kinds as well as a general explanation for why estimates vary. The Expense Budget also includes the Central Government's requests for grants.
  • Capital assets are crucial expenses for firms since they include cash outlays for production machinery and other equipment that generates revenue.
  • Due to the fact that production equipment is more expensive than standard office supplies or monthly expenses, financing is sometimes required to purchase capital assets.
  • The purchase of capital assets is typically included in expense budgets, and their effects on working capital and future cash flows are quantified. Businesses wouldn't be able to accomplish their operational goals without well managed capital investments.

To know more about Expense Budget with the given link

brainly.com/question/14318672

#SPJ4

3 0
2 years ago
Click on the link below(I will add it below) to access a video on Entrepreneur Mark Zuckerberg. As you watch the video, fill in
Virty [35]

Answer:

This is what shows

Explanation:

4 0
3 years ago
Other questions:
  • What is enhanced by skillful organization of the information presented in a report?
    7·1 answer
  • ​The monthly salaries of a sample of 100 employees were rounded to the nearest $10. They ranged from a low of $1,040 to a high o
    12·1 answer
  • In a statement of cash flows: Multiple Choice No noncash transactions are reported in the statement itself or the related footno
    9·1 answer
  • Puppy Woes. Sam promised to sell Linda a Welsh Corgi puppy for $300 but backed out of the deal. Linda sued Sam in state court fo
    14·2 answers
  • Rug Designs Inc, a manufacturer of large area rugs, markets its products throughout the United States using a network of regiona
    13·1 answer
  • When you borrowed $50 from your rich cousin, and then had to pay her back $60, what is the original $50 called?
    9·1 answer
  • First National Bank charges 13.5 percent compounded monthly on its business loans. First United Bank charges 13.8 percent compou
    5·1 answer
  • Which of the following statements about employment-at- will is true? ​
    8·1 answer
  • At the beginning of the recent period, there were 1,230 units of product in a department, 35% completed. These units were finish
    11·1 answer
  • Five years ago Thompson, an investor, ran across a board game that he enjoyed and believed the game would become very popular. H
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!