You own a small business selling computers. Each computer is sold for the same price:...
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You own a small business selling computers. Each computer is sold for the same price: $425.00 each. Your sales team is paid on salary with the potential for commission on each sale. Your best salesperson, Lolita, is paid $550 per week plus a commission of 6% on all sales. Last week, Lolita sold 3 computers on Monday, 7 computers on Tuesday, 5 computers on Wednesday, 4 computers on Thursday, and 6 computers on Friday. Returns and allowances for the week were 3 computers.
Find Lolita's Gross Pay for the week. Show all calculations.
Calculate the employee's Medicare Tax (1.45%). Show calculations.
Assume the employee has not earned $130,000 this year. What is this week's FICA tax withholding (6.2%)? Show calculations.
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