Question
7. Hank earns16.00 per hour with timeandahalf for hours in excess of 40 per week. He worked 48 hours at his job during the first
7. Hank earns16.00 per hour with timeandahalf for hours in excess of 40 per week. He worked 48 hours at his job during the first week of March, 2024. Hank pays income taxes at 15% and 7.65% for OASDI and Medicare. All of his income is taxable under FICA. Determine Hank's net pay for the week. (Do not round any intermediate calculations, and round your final answer to the nearest cent.) A- 643.55 B-707.20 C- 533.20 D-534.91
8. Jason's gross wages for the week is $2,000. His year-to-date salary is the maximum for OASDI. Assume the federal and state unemployment compensation tax rate is 6% and Jason to date hasn't exceeded the $7,000 limit. What is the total amount of payroll taxes that an employer must record as payroll tax expense? (Do not round your intermediate calculations. Assume FICA-OASDI tax of 6.2% and FICA-Madicare tax of 1.45%.) A $273.00 B. $246.04 C. 124.00 US D. 113.00 USD
9. A Plus Appliances sells dishwashers with a four - year warranty. In 2025, sales revenue for dishwashers is $98,000 . The company estimates warranty expense at 4.5 % of revenues. What is the total estimated warranty payable of A Plus Appliances as of December 31 , 2025 ? A Plus Appliances began operating in 2025 and experienced no warranty claims from customers during the year. ( Round your final answer to the nearest dollar . )
A. $3,459 B. $4,410 C. $1,103 D. $1,614
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