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
ArbitrLikvidat [17]
3 years ago
7

Portia Grant is an employee who is paid monthly. For the month of January of the current year, she earned a total of $8,838. The

FICA tax for social security is 6.2% and the FICA tax rate for Medicare is 1.45%. The FUTA tax rate of 0.6% and the SUTA tax rate of 5.4% are applied to the first $7,000 of an employee's pay. The amount of federal income tax withheld from her earnings was $1,466.47. What is the total amount of taxes withheld from the Portia's earnings
Business
1 answer:
Setler79 [48]3 years ago
7 0

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

You might be interested in
An investigator conducting a study of a medical device under an ide is required to complete and sign
Anika [276]

An investigator conducting a study of a medical device under an ide is required to complete and sign an investigator's agreement. It is a statement of the investigator's commitment to conduct the investigation in accordance with the agreement, the investigational plan, the IDE and other applicable FDA regulations, etc., it also supervise all testing of the device involving human subjects, and ensure that the requirements for obtaining informed consent are met.

8 0
3 years ago
Echo Corporation uses a job-order costing system and applies overhead to jobs using a predetermined overhead rate. During the ye
ozzi

Answer:

Actual overhead= $153,400

Explanation:

Giving the following information:

During the year the company's Finished Goods inventory account was debited for $360,000 and credited for $338,800. The ending balance in the Finished Goods inventory account was $36,600.

At the end of the year:

Manufacturing overhead was overapplied by $15,900.

If the applied manufacturing overhead was $169,300.

Because the manufacturing overhead was overapplied, we need to subtract from the applied overhead to determine the actual overhead.

Actual overhead= applied overhead - overapplied overhead

Actual overhead= 169300 - 15900= $153,400

5 0
3 years ago
Your newest coworker is not as productive as other members of your team. You and your coworkers have to work harder to make up f
BaLLatris [955]

Answer:

The correct answer would be option C.

Explanation:

If there is a new co worker hired in my office, and its her beginning days, and I, along with other team members see that she is not as productive as other members of the team are, and we all have to work more and harder to make up for her work. So i would preferably give her advice and tips for how to get things done correctly and efficiently. I would not like to get her out of the office, rather i will try to make her understand the things as soon as possible and give her tips to increase her work efficiency. But if the problem continues, and I believe that she will not be able to cope up with us, then i will talk to the supervisor and suggest him that she might not be the best role for us. But i will go with option C.

6 0
3 years ago
Read 2 more answers
Maxim manufactures a cat food product called Green Health. Maxim currently has 10,000 bags of Green Health on hand. The variable
Rudik [331]

Answer: $92,880

Explanation:

The Gross Profit can be calculated by simply removing the cost from the sales amount.

It is stated that the additional processing will yield 10,000 bags of Premium Green and 3,600 bags of Green Deluxe, which can be sold for $7.55 and $5.55 per bag.

Sales figure is therefore,

= (10,000 * 7.55) + (3,600 * 5.55)

= 75,500 + 19,980

= $95,480

Subtracting the cost to get,

= 95,480 - 2,600

= $92,880

The total gross profit would is $92,880.

7 0
3 years ago
At the very least, Joe Average and Bill Gates are both identically limited by:
shusha [124]

Answer:

The correct answer is option 'B': The 24 hours that comprise a day

Explanation:

For comparison between 2 random variables only those values can be said to be identical that have the same values.

From the given options if we compare Joe and Bill Gates we conclude

1) The 2 person's are not identically limited by wealth as the wealth difference can be large.

2) Similarly they can have a vast difference in their knowledge.

3) Person that has larger wealth and knowledge will naturally have larger influence.

Now since the length of a day is 24 hours and this is a universal truth no matter what the circumstances we conclude that they both are limited by this parameter no matter whatever be the difference between the 2.

4 0
3 years ago
Other questions:
  • If left to the private market, the amount of fire protection provided in a city would be ________ than it is now, and free rider
    13·1 answer
  • When companies disperse different stages of the value chain to those locations around the world where perceived value is maximiz
    15·1 answer
  • Why are both life expectancy and quality of life used to evaluate overall health?
    15·1 answer
  • Which of the following documents cannot be created using the Microsoft® Word® application?
    10·2 answers
  • Select the incorrect statement regarding costs and expenses.
    5·1 answer
  • Tanner-UNF Corporation acquired as a long-term investment $200 million of 6.0% bonds, dated July 1, on July 1, 2021. Company man
    6·1 answer
  • Bramble Corp. had 1420000 shares of common stock issued and outstanding at December 31, 2020. On July 1, 2021 an additional 1254
    10·1 answer
  • A decision at the marginVan is a hard-working college senior. One Thursday, he decides to work nonstop until he has answered 200
    10·1 answer
  • Balance Sheet
    10·1 answer
  • Can somebody help me with this honestly im just to lazy (35 points)
    9·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!