Question 8 1 A company pays one of its employees $800 per week. How much is the amount withheld from his pay for Social Security taxes? O $49.60 $11.60 $61.20 $34.52 Question 9 1 pts Squeaky Clean laundromat purchased $6,000 worth of washing machines which are expected to last for 5 years, at which time they will have a trade-in value of $1,000. Calculate the annual depreciation using the straight line depreciation method. $1.200 $1,150 $1.000 5950 A10 1 pts Question 1 pts On July 1, 2017, a company purchased a delivery van for $32,000. In five years, when they trade in the van, they will receive $3,000 toward the purchase of the next model. Using the straight-line method of depreciation, how much will they be allowed to depreciate during the first year? $6.400 $5.300 53.200 $2.900 Question 11 1 pts ABC Company purchased a 565,000 piece of equipment which had an expected life of 10 years and a scrap value of $5,000. If the declining balance method of depreciation is used, what would the depreciation be the first year? $13.000 $12.000 56.500 $6.000 on 13 1 pts The Better Than Average Construction Company purchased $35,000 worth of tools during 2017 which are in the 5-year class asset category. Using MACRS, what would be the cost recovery in the fourth year? 54032 $11.200 $7.000 56.720 St. Nick's Toy Shop assigns operating expenses (overhead) according to the number of employees in each department. Operating expenses during September totaled $84,000. Employees per department: Department Rubber Ducks Employees 2 8 Music Boxes Electric Toys Pogo Sticks 5 3 Games 4 Stuffed Animals 6 How much of the operating expenses would be allocated to the Electric Toys Department? $6.000 $9.000 $12.000 O $15.000