The total is $1,437.
Before June she had already paid social security on $100,000 in earnings. So, in June she only needs to pay social security on $18,500.
$18,500 x .062 = $1,147
She pays Medicare on all of June’s earnings = $20,000 x .0145 = $290
The total amount of FICA -social security withheld from this employee in June is $290 + $1,147 = $1,437
Answer:
b. plus any subsequent processing cost.
Explanation:
In the case of the acceptable costing method for by-products the inventory cost that are depend upon the joint cost should be distribution to the by-product plus if there is any processing cost
that means
Inventory cost of the bu-product = joint cost + processing cost
Therefore the same should be considered
