Bobby Darling Is the Only Employee of Atlantic Records, Inc

question 175

Multiple Choice

Bobby Darling is the only employee of Atlantic Records, Inc.During the first week of January, Darling earned $800 and had federal and state income tax withholdings of $40 and $15, respectively.FICA taxes are 7.65% on earnings up to $117,000.State and federal unemployment taxes for the period are $50 and $8, respectively.
-Use the information above to answer the following question.What is the employer's payroll tax expense for the week?

• A) $113.00
• B) $119.20
• C) $174.20
• D) $235.40

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Definitions:

Independent Variable

A variable in an experiment or study that is manipulated or changed to observe its effects on the dependent variable.

Dependent Variable

A variable in an experiment or study whose changes are determined by the presence or variation of one or more independent variables.

Interest Rate

The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding.

Investment

The allocation of capital to purchase assets or securities with the expectation of generating future profits or income.