A withholding that you can see on your pay stub could include a health insurance payment or a retirement savings.
Answer:
4,444.44 units
Explanation:
For the computation of Number of units to be sold to earn target profit first we need to follow some steps which are shown below:-
Selling price per unit = Sales ÷ Number of units sold
= $300,000 ÷ 5,000
= $60
Variable cost per unit = Total variable cost ÷ Number of units sold
= $180,000 ÷ 5,000
= $36
Increase in selling price = $60 × 5%
= $3
New selling price per unit = $60 + $3
= $63
New contribution margin per unit = New selling price per unit - Variable cost per unit
= $63 - $36
= $27
Number of units to be sold to earn target profit = (Fixed cost + Target profit) ÷ Contribution margin per unit
= ($90,000 + $30,000) ÷ $27
= $120,000 ÷ $27
= 4,444.44 units
Answer:
$6,641
Explanation:
Roberta must pay self-employment taxes from the income she received from her truck driving business ($47,000). Self-employment taxes are similar to the taxes paid by the employers (FICA) and are subject to he same maximums.
- social security tax 12.4%
- medicare tax 2.9%
Since the self-employed are allowed certain tax deductions, the easiest way to determine taxable income is by multiplying income x 92.35%.
Taxable income = $47,000 x 92.35% = $43,404.50
- Social security taxes = 12.4% x $43,404.50 = $5,382
- Medicare taxes = 2.9% x $43,404.50 = $1,259
- total $6,641
17.5 years to wait to be able to withdraw money without penalty.