Given that Jenny earned $44,500 in 2016.
Her contribution to the Social Security is given by: 6.2% of $44,500 = 0.062 x 44500 = $2,759
Her employer's contribution to the Social Security is given by: 6.2% of $44,500 = 0.062 x 44500 = $2,759
Her contribution to the medicare is given by: 1.45% of $44,500 = 0.0145 x 44500 = $645.25
Her employer's contribution to the Social Security is given by: 1.45% of $44,500 = 0.0145 x 44500 = $645.25
Therefore, her total FICA tax is 2(2,759) + 2(645.25) = $5,518 + $1,290.50 = $6,808.50
Answer:
<u>Bottom up budgeting</u>
Explanation:
In Techsorrd Inc. the leads of the technical team , support team, and marketing team anticipate the resource needs for their respective departments and send them to the top management for approval. In this scenario, Techsorrd Inc. is most likely using <u>Bottom up budgeting.</u>
The budgeting in which the cost of all individual department is determined and then cost of all department is total up.
Bottom up budgeting helps in <em>accuracy and accountability</em> of the budget. It also <em>helps in motivating the employees.</em>
Investment bankers perform all of the following functions except manage mutual funds.
<h3>Who is an investment banker?</h3>
Investment bankers underwrite securities on a firm commitment (principal) basis; and on a best efforts (agency) basis.
Investment banks also advise companies on mergers, acquisitions, divestitures and spin-offs.
Hence, Investment bankers perform all of the following functions except manage mutual funds.
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In order to determine the effect of the tax on the demand and supply graph, please check the attached image.
A tax is a form of transfer to wealth from businesses to the government. Taxes increase the price of goods and services. As a result of the tax levied on the producers of automobile tires, the cost of making tires would increase. This would make producing tires more expensive.
As a result of the increase in the cost of making tires, the production of tires would fall. As a result, there would be a leftward shift of the supply curve. This would lead to a rise in equilibrium price and a decrease in equilibrium quantity.
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