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Monroe Company employees 15 people who earn $30 per hour and work 40 hours per week. Federal income taxes are wit held at 15%
Monroe Company employees 15 people who earn $30 per hour and work 40 hours per week. Federal income taxes are wit held at 15% and state income taxes at 6%. FICA taxes are 7.65% Unemployment taxes are 3.8% of the first $7,000 earned per employee. Calculate the net pay (cash paid to employees) for the first week of January. Multiple Choice $12,843. $13,923. $18,000. $5,157
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