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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540 Exercise 112
Solve the following application problems. Round to the nearest cent.
PAYROLL DEDUCTIONS Peter Phelps is a representative for Delta International Machinery and is paid $675 per week plus a commission of 2 on sales. His sales last week were $17,240. Find the amount of (a) his Social Security tax, (b) his Medicare tax, and (c) his state disability insurance deduction for the pay period. (The FICA rate is 6.2 , the Medicare rate is 1.45%, the SDI rate is 1%, and earnings will not exceed $31,800.)
PAYROLL DEDUCTIONS Peter Phelps is a representative for Delta International Machinery and is paid $675 per week plus a commission of 2 on sales. His sales last week were $17,240. Find the amount of (a) his Social Security tax, (b) his Medicare tax, and (c) his state disability insurance deduction for the pay period. (The FICA rate is 6.2 , the Medicare rate is 1.45%, the SDI rate is 1%, and earnings will not exceed $31,800.)
Explanation
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In order to calculate the employee's amo...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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