Question 12 4 pts For the month of January, Knicker Corporation paid each of its 25 employees a salary of $4,000. It withheld federal income taxes at the rate of 20% and it withheld FICA taxes at the rate of 7.65% from each employee. The employer FICA tax rate is 7.65%. Other than employer FICA tax, there are no other employer taxes that must be paid by Knicker Corporation. What were Knicker's Salaries Expense and Payroll Tax Expense for January? Salaries Expense Payroll Tax Expense A. $ 80,000 $15,300 B $ 72,350 $27,650 C. $100,000 $20,000 D. $100,000 $ 7,650 E. $107,650 $ 7,650 Expense Set A O Expense Set B Expense Setc Expense Set D Expense Set E Question 13 4 pts Gamma Bomber Parts uses a periodic inventory system and the FIFO cost flow assumption. The following data is available Units Unit Cost Total Cost 20 $4,000 $80,000 Beginning inventory, January 1 Purchase, January 10 20 $4,800 $96,000 25 Sale, January 20 Purchase, January 25 16 $3,600 $57,600 The ending inventory on January 31 should be valued at $81,600 O $100,800 $132.800 $129,600 none of the above Question 14 4 pts The So-Big Company sells units of hotdogs. Inventory information for a recent week is presented below. Units Unit Cost Total Cost 2 $6 $12 Beginning inventory Purchase, day one Purchase, day four 4 $8 $32 6 $10 $60 So-Big uses a periodic inventory system and the LIFO cost flow assumption. If 5 units were sold during the week, what is the Cost of Goods Sold? $68 $54 $50 O $36 O none of the above