The Following Data Applies to the July 15 Payroll for the Woodard

question 42

Multiple Choice

The following data applies to the July 15 payroll for the Woodard Research Firm (overtime is paid at 1 1/2)
$$\begin{array} { l r c r c c } \text { Employee Name } & \text { Pay Rate } & \text { Hours } & \text { Cumulative } & \text { Department } & \text { Federal Income } \\ & & \text { Worked } & & & \text { Tax Withheld } \\\hline\text { B. Woodard } & \$ 2,000 / \text { wk } & \text { Salaried } & \$ 98,000 & \text { Office } & \$ 779.00 \\\text { J. Thomas } & 13.00 & 51 & 40,000 & \text { Shop } & 320.00 \\\text { K. McCann } & 17.00 & 46 & 42,000 & \text { Shop } & 330.00\end{array}$$ Assume:
FICA-OASDI is 6.2% based on a limit of $117,000.
FICA-Medicare is 1.45%.
FUTA is .8% based on a limit of $7,000.
SUTA is 5.6% based on a limit of $7,000.
State income tax is 2.8%.
-How often is a 940 filed?

• A)Monthly
• B)Annually
• C)Weekly
• D)Quarterly

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Definitions:

Fractured Rocks

Rocks that have been broken or cracked through natural processes or human activity, often creating pathways for the movement of fluids or gases.

Preferential Weathering

The process where certain materials in rocks weather at different rates due to variations in properties like composition and hardness.

Sinkholes Form

Natural depressions or holes in the Earth's surface that occur when underlying rock dissolves or collapses.

Methane Gas

A colorless, odorless, highly flammable gas, CH4, which occurs naturally as a byproduct of decomposition and is used as a fuel.