Question
(please show work for both) 1) Bobby Darin is the only employee of Atlantic Records, Inc. During the first week of January, Darin earned $800
(please show work for both)
1) Bobby Darin is the only employee of Atlantic Records, Inc. During the first week of January, Darin earned $800 and had federal and state income tax withholdings of $40 and $15, respectively. FICA taxes are 7.65 percent on wages up to $100,000. State and federal unemployment taxes for the period are $50 and $8, respectively.What would be the amount of Darin's payroll check for the first week of January?
2) Bobby Darin is the only employee of Atlantic Records, Inc. During the first week of January, Darin earned $800 and had federal and state income tax withholdings of $40 and $15, respectively. FICA taxes are 7.65 percent on wages up to $100,000. State and federal unemployment taxes for the period are $50 and $8, respectively. What is the employer's payroll tax expense for the week?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started