Ben's Mentoring Had the Following Information for the Pay Period

question 62

Short Answer

Ben's Mentoring had the following information for the pay period ending September 30: Assume:
FICA-OASDI applied to the first $128,400 at a rate of 6.2%.
FICA-Medicare applied at a rate of 1.45%.
FUTA applied to the first $7,000 at a rate of 0.8%.
SUTA applied to the first $7,000 at a rate of 5.6%.
State income tax is 3.8%.
Employees contribute to their retirement fund at a rate of 5.5% of their gross earnings.
-Compute the total gross earnings for the tutors.

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Definitions:

Structures

The arrangement or organization of interconnected elements, which can pertain to physical buildings or systemic frameworks within a context.

Equipment

Tools or machinery necessary for a particular activity or purpose.

Nonrenewable Resource

A resource that cannot be replenished at the same rate at which it is consumed, such as fossil fuels.

Human Capital

The economic value of the skills, experience, and qualifications of an individual worker or group of workers.