An employee works 47 hours (47 - 40 were overtime hours) during a workweek in December of 2021. He earns $39/hour, with his employer paying 1.5 times the regular rate of pay for overtime hours. To date, he has earned $140,950 during the year. He has requested that his employer withhold 6% of gross pay, which is to be contributed to a 401(k) plan.

Taxable income for federal income tax withholding = $
Taxable income for social security tax = $
Taxable income for medicare tax = $

Answers

Answer 1

The amount of tax will be:

Taxable income for federal income tax withholding =$1,851.33Taxable income for social security tax =$1,851.33Taxable income for medicare tax = $1,851.33

How to calculate the tax?

Regular Pay (40×39) = $1,560.00

Overtime Pay (7×39×1.5) =$ 409.50

Gross Pay = $1,969.50

Less: 401(k) plan Contribution (1969.50×6%) =$ 118.17

Taxable Amount = $1,851.33

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Related Questions

Hanson Aquatics manufactures navigational equipment. As a new Hanson employee, Lyndon Kiely was told that even if he decides not to join the union that represents the company's employees, he must pay the dues. Hanson has a(n) _____ shop.

Answers

If he must pay the dues. Hanson has a(n) agency shop.

What is agency shop?

An agency shop  can be defined as a shop in which the employer may decide to recruit a person that is member of the union or a person that is not part of the union.

In this agency shop it is not mandatory for an employee which not member of the union to join the union but the employee must always pay the dues.


Therefore  Hanson has a(n) agency shop.

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If the demand for home gaming system games has dramatically increased in the last month, what scenario is most likely to have happened

Answers

The scenario is most likely to have happened the holidays and new years are around the corner.

What is demand ?

Demand refers to the desire and willingness to purchase a commodity. It is generation of the need and want for the product bide by the purchasing power. If there is no purchasing power then it will not be termed as demand.

In the above scenario if the demand of the home gaming system has been increased in the last month the most possible reason could be the increased in number of the holidays and may be new years must be there.

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The opening of which canal significantly reduced the time and money required to ship goods between the east coast and the west coast of the americas?.

Answers

Answer:

The Erie Canal

Explanation:

When it opened it dramatically decreased the cost of shipping while reducing the time to travel to the West.

A Chicago-based company decides to outsource all product designs to Singapore because it has been found to have the most efficient design companies. In this situation, the Blank______ implication for international business is being considered. Multiple choice question. first-mover location policy trade

Answers

In this situation when the company outsources its products the location implication for international business is being considered. Thus the correct answer is B.

What is outsourcing?

Outsourcing is a technique in which a corporation contracts a third party to perform activities, manage operations, or offer services. These outsourcing companies will provide efficient work to the clients.

It arranges its own employees or computer systems to complete the tasks or provide the services, either on-site facilities or at off-site facilities locations.

These outsourcing services will help the business to lower the cost by outsourcing activities from countries where there is the availability of cheap manpower or skilled employees.

These will help to improve the productivity of a business by access to skilled resources and advanced technology. These will improve the efficiency and core competencies of the business.

Therefore, option B location is the correct answer.

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A business's budget estimates yearly sales of $735,650. if the business plans to spend 38%
of sales on salaries and wages and 24% of sales for other expenses, how much should it
budget for total expenses?
o $456,103
o $279,547
o $176,556
o $529,668

Answers

The amount that it should budget for total expenses is: $456,103.

Budgeted total expense

Using this formula

Total expenses=(Yearly sales×38%)+ (Yearly sales×24%)

Let plug in the formula

Total expenses=$279,547+$176,556

Total expenses=$456,103

Therefore the correct option is A.

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How should disability payments, which are non-taxable, be analyzed in order to fairly calculate the customer’s ability to pay?.

Answers

The person's ability to pay is determined by your T-2 calendar year income is analyzed in order to calculate customer’s ability to pay.

What is disability payments?

Disability payment are the payments given by the government of the nation for the people who are not able to work because of the major issue in their body. This payment has some criteria and based on that criteria a person is liable for liability payments benefits.

Thus, The person's ability to pay is determined by your T-2 calendar year

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The discounted payback period Blank _____ account for the time value of money, and the payback period Blank

Answers

The discounted payback period does account for the time value of money, and the payback period does not.

What is discounted payback period?

A method of capital budgeting used for determining a project's profitability is known as discounted payback period. This will be done by recognizing the time value of money and by discounting cash flows of the future.

The payback period is the amount of time it takes for an asset's net cash flows to pay back the amount invested in it. It's a quick and easy technique to assess the risk of a given project.

The advantage of this method is utilized in selecting the projects as this method helps to determine the profitability of any project by identifying measures to reach the break-even point in any project.

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anyone have any ideas?

Answers

Short term goals are like your little achievements like “completing my home work everyday” long term goals are like “ I’m going to graduate high school”

Entry of new firms into monopolistically competitive industries is relatively easy because ______. Multiple choice question. existing firms experience economies of scale product development is unnecessary competitors are large firms advertising is not required capital requirements are low

Answers

Entry of new firms into monopolistically competitive industries is relatively easy because capital requirements are low. Thus the correct answer is D.

What is a monopoly?

A monopoly refers to a firm that has a single authority in the market and controls the market completely. In a monopoly, there is a single rule and an absence of competition.

Monopolistic competition describes a competitive market in which a small number of sellers give clients near alternatives. It is a market system in which a large number of enterprises compete in the same industry.

Each firm runs on its own, producing comparable but production of innovative products, with no concern for what other companies are doing. These types of firms are very easy to enter and exit the market.

Therefore, option D with low capital requirements is the correct answer.

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What happens when a driver selects the driving range option from 2023 leaf’s available ev info menu?.

Answers

When a driver selects the driving range option from 2023 leaf’s available info menu a map displays the driving range. This is further explained below.

What is driving?

Generally, driving is simply defined as the factors that are initiated to moving a car or vehicle.

In conclusion, An interactive driving range map appears in the 2023 leaf's accessible information menu when a driver picks the option.

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NEED HELP ASAP! WILL GIVE BRAINLIEST TO GOOD ANSWER

For business paper 2, what do I need to revise and can anyone give me tips?

Answers

Answer:

effective way to revise for Business. ...

Mind Maps. Mind maps allow you to organise information better visually, through the use of branches and sub-branches. ...

The right environment. ...

Study buddy. ...

*PLEASE HELP ME!*

Sara could practice her guitar or complete her calculus homework. She does not really want to practice her guitar but does so anyway, what is her trade-off?

practicing her guitar
completing her calculus homework
the time it took her to practice guitar.
practicing her guitar and doing her calculus homework

Answers

Answer:

C

Explanation:

As the number of stocks in a portfolio rises, a. neither firm-specific risks nor market risk falls. b. market risk falls; firm-specific risks do not. c. firm-specific risks fall; market risk does not. d. both firm-specific risks and market risk fall.

Answers

The correct statement is if the number of stocks in a portfolio rises then the firm-specific risks fall; market risk does not. .

What happened if number of stock would be increased in the portfolio?

If the number of the stocks increases in the portfolio, then the total overall return from the portfolio will decreased.

it usually happens because some stock in the stock market generally outperforms the other stock. On the other hand, most of the stocks provides an average return on them.

The risk in the portfolio can be reduced by adopting the diversification in the portfolio.

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Which is not an expense account?
Repairs
Advertising
Rent
Interest
Accrued

Answers

The answer option which is not an example of an expense account is: E. Accrued.

What is an expense account?

An expense account can be defined as a type of account that include an amount of money (funds) that are paid to an employee by an employer of labor, so as to enable the employee spend the fund on things related to his or her job.

In Business management, some examples of an expense account include the following:

RepairsAdvertisingRentInterest

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Texas annexation was not at the forefront of american politics until president john tyler used it as a rallying cry for his bid for reelection in 1844. identify the statements that correctly describe the reactions to the annexation of texas.

Answers

Answer:

A letter by Secretary of State John C. Calhoun to President Tyler linked the idea of absorbing Texas directly to the goal of strengthening slavery in the United States.

Prospective presidential candidates, Henry Clay and Martin Van Buren, met and agreed to reject the immediate annexation of Texas on the grounds it might lead to war with Mexico.

Explanation:

In a letter to President Tyler, Secretary of State John C. Calhoun made a direct connection between the desire to strengthen slavery in the US and the concept of absorbing Texas.

What was annexation of Texas ?

Henry Clay and Martin Van Buren, two potential candidates for the presidency, got together and decided against annexing Texas right once because doing so might spark a conflict with Mexico.

In an effort to build a foundation of support from the general public for another four years, U.S. President John Tyler broke away from the other major parties in 1843 and opted to seek the annexation of Texas on his own.

The Tyler-Texas treaty was rejected by the Senate by a strong majority. Tyler lacked the Senate votes necessary to ratify the deal. In June, it lost by a wide margin.

Tyler retried to acquire their ok before leaving the office. This time, he received support from both chambers of Congress for the joint resolution.

Texas was admitted into America on December 29, 1845, thanks to Tyler's success in getting the joint resolution passed by the senate on March 1, 1845.

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How does scarcity affect a society like Venezuela?

Answers

Answer:

scarcity affect a society like vanezuela by following ways:

they may suffer from different types of diseases due to insufficient of nutritious food.

It may also lead to people's death

As the people will be weak because of scarcity there will be less development

People will have conflicts for survival and food

Explanation:

.........

Adriana wants to work in broadcasting, but she sees that it might be hard to find work in that career. Why are there fewer jobs for reporters and broadcasters? A. The number of news outlets has not changed, even though the population has risen. B. There are more news outlets, so there are more people competing for jobs. C. There are fewer news outlets, so there aren’t as many jobs as there used to be. D. The number of readers and viewers have decreased, so the number of jobs has decreased too.

Answers

There are fewer jobs for reporters and broadcasters these days because the number of readers and viewers has decreased, so the number of jobs has also decreased.

Why are there fewer jobs for reporters and broadcasters?

What happens is that technological development led to the digital revolution, impacting the way in which people search for information for news, which occurs more quickly and instantly through the internet and social media.

Therefore, there is a transformation in the broadcasting sector, impacted by the current new information technologies

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Customer relationship management (CRM) helps firms gain and maintain competitive advantage by: a. encouraging them to produce standardized goods. b. merging all demographic-based and behavior-based segments of markets. c. studying which goods and services are purchased together. d. prohibiting them from bundling goods and services together.

Answers

Answer:

A. Encouraging them to produce standardized goods

Zion company sells merchandise on credit to brc, inc. in the amount of $1,200. the entry to record this sale would include a: (check all that apply.)

Answers

The entry to record the sale of merchandise would include

-Debit to Accounts Receivable

-Credit to Sales

What is journal entry?

Journal entry refers to how business transactions are recorded for ease of reconciliation.

Typically, when goods are sold, the accounts receivable is debited, while sales is credited.

Hence, the entry to record the sale of merchandise would include debit to Accounts Receivable and credit to sales.

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I am stuck on this question can someone help?

Answers

Answer:

college-sociologist, hairstylist, biomedical engineer

vocational certification- tour guide, childcare director, museum personnel

Explanation:

I WILL GIVE BRAINLIEST!!!

What needs to happen to prevent scarcity from re-occurring in the future?

Answers

Answer:

Government shouldn't increase the rate of tax

plants should be planted

Natural resources should be utilize properly

water resources should be kept clean

Explanation:

........

When consumers start searching for ways to satisfy needs, their internal search is characterized by A. consulting close friends and families before expanding the search to a wider, external group. B. the influence of advertising. C. looking through the internal records of a firm, often found on the company website. D. examining personal memories and knowledge. E. using the Internet to find what other consumers feel about a specific product or service.

Answers

Using the Internet to find what other consumers feel about a specific product or service is the  internal search is characterized, When consumers start searching for ways to satisfy needs.

How internet is helpful in finding out about things?

Internet is very useful in many ways for the consumers, some of them are-

It facilitates the person in viewing the reviews of the other person's views on the specific thingsit helps in finding out the best things that a person suits for themIt provides easy ecommerce service From which a person can buy things.It provides easy return, if something is not appropriate to use.

Thus, option E is correct.

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M and M, Inc. produces a product that has a variable cost of $4.20 per unit. The company's fixed costs are $45,600. The product is sold for $8 per unit and the company desires to earn a target profit of $11,400. What is the amount of sales that will be necessary to earn the desired profit

Answers

The amount of sales that will be necessary to earn the desired profit is $120,000.

What is desired profit?

Desired profit refers to the amount of the profit expected by the company which is estimated by them as per the sales of the company.  The sales are also estimated and the company makes the budget of it.

To calculate the desired sale we need to calculate the contribution which is calculated as follows:-

Contribution margin per unit = (Selling price per unit - Variable costs per unit)

Contribution margin per unit = ($8 per unit - $4.20 per unit) = 3.80 per unit

Break-even point in units = (Fixed costs + Desired profit) ÷ Contribution margin per unit

Break-even point in units = ($45,600 + $11,400) ÷ 3.80 per unit = 15,000 units

Break-even point in dollars = Break-even point in units × Selling price per unit

Break-even point in dollars = 15,000 units × $8 = $120,000

Thus the desired sales is $120,000.

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Advertising, fashion trends, and new product introductions serve to.

Answers

Answer:

Create consumer demand.

Explanation:

Advertising helps promote your product so people will want to buy it.

What it the present value of $2,000 that you expect to receive in 3 years assuming you could invest the money today and earn a 5% annual return?.

Answers

A present value of $2,000 that you expect to receive in 3 years, the future value is mathematically given as

F=2315.24

What is the Future value of $2,000?

Generally, the equation for the present value is mathematically given as

P= fv*1/(1+r)n

Therefore

2000=F *1/(1+0.05)^3

F=2315.24

In conclusion, the Future value

F=2315.24

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state any two functions of government office​

Answers

Answer:

The government office has the following functions:

To overlook all government activities at a given area.To maintain peace,order and involvement of citizens to government decision.

definition of tax fraud and tax reduction?

Answers

Answer:

Tax fraud is basically cheating on a tax return in an attempt to avoid paying the entire tax obligation.

Tax Reduction means any tax refund or any reduction in taxes paid by the acquirer, the company,  or any of their respective partners.

Explanation:

Which category of physical infrastructure management is concerned with providing the required it resources at the right time, at the right cost, aligned with the current and future requirements of the internal customer?

Answers

The category of physical infrastructure management that provides resources that are necessary for the internal customer is the Resource Capacity Management

What is Resource Capacity Management?

This refers to the definition of the work that is meant to be done by a person and carefully allocating resources necessary to complete the tasks.

Hence, we can see that in physical infrastructure management, there is the allocation of resources that helps one to use the right resources at the right time and proper measure and this is the Resource Capacity Management.

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write the following In Words 689·104​

Answers

Six hundred eighty nine (689)

One hundred four (104)

If the dollar price of the english pound goes from $1. 75 to $1. 50, the dollar has.

Answers

Answer: Decreased

Explanation:

I'm sorry but I think your question is incomplete.

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