Teko Earned $118,200 During 2017

question 8

Essay

Teko earned $118,200 during 2017.Teko is paid on a monthly basis,is single,and claims three allowances.
a.What is Teko's federal tax withholding for the month?
b.What is Teko's FICA withholding for the month?
c.How much will Teko's employer remit in payroll tax deposits for the month?
d.How much FUTA tax is Teko's employer required to remit in her name for the year 2017? Assume that all state contributions have been paid as required.
(Round your answer to 2 decimal places. )

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Definitions:

Variable Manufacturing Overhead

Manufacturing costs that vary in direct proportion to changes in production volume, such as utilities and indirect materials.

Machine-hours

A measure of production output based on the number of hours machines are operated within a given period.

Variable Overhead Rate Variance

The difference between the actual variable overhead incurred and the standard variable overhead assigned to the production based on the actual activity levels.

Total Variable Overhead Spending Variance

The overall difference between actual and budgeted variable overhead costs based on the changes in the level of activity.