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

question 37

Short Answer

The following data applies to the July 15 payroll for the Woodard Research Firm (overtime is paid at 1 1/2) Assume:
FICA-OASDI is 6.2% based on a limit of $128,400.
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%.
-Compute the total regular earnings.

---

Definitions:

Ratio Analysis

A quantitative analysis of information contained in a company's financial statements, used to evaluate the performance, liquidity, and solvency of the business.

Financial Position

A snapshot of a company’s financial condition at a specific moment in time, encompassing assets, liabilities, and equity.

Equity Multiplier

A financial ratio that measures the proportion of a company's total assets financed by its shareholders' equity.

Return On Equity

Return on Equity (ROE) measures a company's profitability by calculating how much profit a company generates with the money shareholders have invested.