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Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596 Exercise 77
Use the combined wage bracket tables , Exhibits 9-3 and 9-4, for Exercises 16 and 17.
Vanguard Fabricators has 83 employees on the assembly line, each with gross earnings of $329 per week.
a. What are the total social security and Medicare taxes that should be withheld from the employee paychecks each week?
b. At the end of the first quarter (13 weeks), what are the accumulated totals of the employee's share and the matching taxes for FICA that Vanguard had sent to the IRS?
Vanguard Fabricators has 83 employees on the assembly line, each with gross earnings of $329 per week.
a. What are the total social security and Medicare taxes that should be withheld from the employee paychecks each week?
b. At the end of the first quarter (13 weeks), what are the accumulated totals of the employee's share and the matching taxes for FICA that Vanguard had sent to the IRS?
Explanation
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(a) The weekly salary of employees of Va...
Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
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