A company purchased a weaving machine for $223,120. The machine has a useful life of 8 years and a salvage value of $12,000. It is estimated that the machine could produce 754,000 bolts of woven fabric over its useful life. In the first year, 107,000 bolts were produced. In the second year, production increased to 111,000 units. Using the units-of-production method, what is the amount of depreciation expense that should be recorded for the second year? Multiple Choice $32,847. $31,080. $61,040. $31,663. On November 1, Alan Company signed a 120 -day, 12% note payable, with a face value of $18,900. What is the maturity value (principal plus interest) of the note on March 1? (Use 360 days a year.) Multiple Choice $19,656 $19.404 $19,152 $19,278 $18,900 An employee earned $45,000 during the year working for an employer when the maximum limit for Social Security was $137,700. The Federal Insurance Contrib Act (FICA) tax rate for Social Security is 6.2% and the Federal Insurance Contributions Act (FICA) tax rate for Medicare is 1.45%. The employee's annual Federal Insurance Contributions Act (FICA) taxes amount is: Multiple Choice $6.232.50 $3.442.50 $6,885.00 $2,79000