Given the Following Payroll Items You Are to Identify Whether $$\begin{array} { | l | l | l | } \hline & \text { Employer } & \text { Employee } \\\hline \text { FICA-Medicare } & & \\\hline\end{array}$$

question 124

Essay

Given the following payroll items you are to identify whether they are the responsibility of the employer and/or the employee by placing an X in the appropriate column.
- $$\begin{array} { | l | l | l | } \hline & \text { Employer } & \text { Employee } \\\hline \text { FICA-Medicare } & & \\\hline\end{array}$$

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Definitions:

Bales

Large bundles or packages of material, most commonly used in reference to agriculture commodities like hay or cotton.

Profit-maximizing

In economics, this refers to the process by which a firm determines the price and output level that returns the greatest profit.

Profit

is the financial gain realized when the revenue generated from business activities exceeds the expenses, costs, and taxes needed to sustain the activity.

Breaks Even

The point at which total costs and total revenue are equal, leading to no net loss or gain for a business.