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

question 67

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 deductions.

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Definitions:

Sales Territories

Defined geographic areas or customer groups for which individual sales representatives or sales teams are responsible.

Geographic Location

The specific physical location of a place on the Earth's surface.

Functional Groupings

The organization of objects, individuals, or data based on their characteristics or roles to achieve efficiency or categorization.

Business Activities

Operations, tasks, and work performed by a company to generate profits, including production, sales, and distribution among others.