Question
The Fiesta Royale Corporation payroll for the first week in January was $14,000.The amount of income tax withheld was 20 percent and the FICA, state
The Fiesta Royale Corporation payroll for the first week in January was $14,000.The amount of income tax withheld was 20 percent and the FICA, state unemployment, and federal unemployment tax rates were 8 percent, 5 percent, and 1 percent, respectively.The amount of the employees' withholding taxes are:
a. $4,760.
b. $3,920.
c. $2,800.
d. $5,100.
Please Explain the answer
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Managerial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
10th Edition
B010IKDQZM
