What Determines Whether a Toggle Switch Is Classified as a Category

question 4

Essay

What determines whether a toggle switch is classified as a Category 1 or Category 2 switch as defined by United Laboratories, Inc.? How can you tell by looking at a switch if it is Category 1 or 2?

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Definitions:

FICA-Medicare Tax

The portion of the Federal Insurance Contributions Act tax that funds Medicare, deducted from employees' wages and also paid by employers.

Federal Income Tax

The tax levied by the IRS on the annual earnings of individuals, corporations, trusts, and other legal entities.

Withholdings

The portion of an employee's earnings that is deducted and sent directly to the government by the employer for tax purposes.

Salaries Expense

The total amount paid to employees in salary form over a specified accounting period, considered an operating expense.