Trish Earned $1,734

question 59

Multiple Choice

Trish earned $1,734.90 during the most recent semimonthly pay period.She is married and has 3 withholding allowances and has no pre-tax deductions.Based on the following table,how much should be withheld from her gross pay for federal income tax?

• A) $91.00
• B) $89.00
• C) $95.00
• D) $69.00

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Definitions:

Periodic Inventory System

An inventory accounting system where updates to the inventory account occur at specific intervals, such as monthly or annually, rather than continuously.

Cost Of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including material and labor costs.

Gross Profit

The profit a company makes after deducting the costs associated with making and selling its products or providing its services.

Net Income

The total profit of a company after all expenses and taxes have been deducted from revenues, also known as net earnings or net profit.