Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

QUESTION 1 lane Peter's regular rate of 0a}.r is $10 per hour with the normal one and oneehalftimes her regular rate for anyI hours which

image text in transcribedimage text in transcribed
QUESTION 1 lane Peter's regular rate of 0a}.r is $10 per hour with the normal one and oneehalftimes her regular rate for anyI hours which exceed 40 hours per week. She worked 45 hours last week. therefore, her gross wages were: - :3 $450. '3' $475. '3' $525. '3' $550. QUESTION 2 Sue Sweet's regular rate of pa}.r is $15 per hour with the normal one and one-halftimes her regular rate for any hours which exceed 4-0 hours perweek. She worked 50 hours last week. The federal income tax is at 25% on all salaries and wages. and the FICAtax rate is at ?.65%. Sue also takes out 5% for her retirement account. What is Sue's net pay for this week? "37' $618.75 '33 $577.50 '3' $555.64 "3' $514.39 QUESTION 3 if the FICAtaX rate on the rst $85,000 in salaries and wages is at 7.65%. and the federal income tax is at 25% on all salaries and wages. what would be an employee's deductions for the year if he earned $95,000? '3' $6,502.50 '3'\" $25.?5000 '33 $30,252.50 '3' $64.?4?.5D QUESTION 4 Which of the following is not the responsibility of a business owner? O FICA Federal Income Tax O FUTA O SUTA QUESTION 5 Which one of the following payroll taxes does not result in a payroll tax expense for the employer? O FICA tax Federal income tax Federal unemployment tax State unemployment tax

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Tools For Business Decision Making

Authors: Paul D. Kimmel,  Jerry J. Weygandt,  Jill E. Mitchell

8th Edition

1119791057, 978-1119791058

More Books

Students also viewed these Accounting questions

Question

If z = xexy, find the following. (a) zxx (b) zyy (c) zxy

Answered: 1 week ago