Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. an employee eorned $5,400 in february working for

An employee eorned $5,400 in February working for an employet. The Federal insurance Contributions Act...

70.2K

Verified Solution

Question

Accounting

image
An employee eorned $5,400 in February working for an employet. The Federal insurance Contributions Act (FiCA) tax rate for Social Secyity is 62% of the first $137700 earned during esch calendar year and the Federal insurance Contributions Act (FICA) tax rate for Medicare is 145% of all earnings. The efipioyee has 5724 in federal income toxes withheld and has voluntary deductions for health insurance of $50 and contributes $540 to a retirement plan each month. The employer pays the $220 remainder of the health insurance premium and on equal amount of contribution to the retirement fund. What is the amount of not poy for the empioyee for the month of February? Muriple Choice $4066.00 $3.672.90 530290 54,26290 $4600

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

What is the purpose of a financial ratio analysis? Identify and define a financial ratio for...

General Management
Q

Economy Oil and gas cut back advice ignored Foreign Cambodian Policy conflict Nixon Pardon Based...

Biology
Q

6 626 x 10 Js The expression of radius of a Bohr orbit in a...

Physics
Q

1 5 TR Match the function with its graph y 4 x 2 1 D...

Calculus
Q

Which of the following places will receive the most orographic rainfall O Mumbai O Islamabad...

Algebra
Q

Find the domain and the range of the relation shown on the graph to the...

Algebra
Q

Which of the following statements about variable overhead costs is true? Multiple Choice ...

Accounting
Q

For 2020, Swifty Company has cost of goods manufactured of $199800, beginning finished goods inventory...

Accounting
Q

Jose invests $9,000, at 6% interest, compounded semiannually for 1 year. Use the compound interest...

Accounting
Q

A company has fixed cost of $1,000 and a contribution margin of $4, breakeven point...

Accounting
Q

4. You invested $100,000 in the stock market 15 years ago when you were 30...

Finance
Q

Sullivan's Island Company began operating a subsidiary in a foreign country on January 1, 2017,...

Accounting