Apple Company Has Three Employees $\begin{array}{lrr} \text { Happy } & \$ 4,120 & \$ 750 \\ \text { Doc } & 31,100 & 5,600 \\\text { Grumpy } & 95,600 & 14,700\end{array}$

question 76

Essay

Apple Company has three employees:
$\begin{array}{lrr} \text { Happy } & \$ 4,120 & \$ 750 \\ \text { Doc } & 31,100 & 5,600 \\\text { Grumpy } & 95,600 & 14,700\end{array}$

$\text { The company is subiect to the following taxes }$
$\begin{array} { l c l } \text { Tax } & \text { Rate } & \text { Applied to } \\ \text { FICA social Security } & \mathbf { 6 . 2 0 \% } & \text { First } \$ 106,800 \\ \text { FICA Medicare } & 1.45 & \text { All grosspay } \\ \text { FUTA } & \mathbf { .8 0 } & \text { First } \$ 7,000 \\ \text { SUTA } & 5.40 & \text { First } \$ 7,000 \end{array}$

What is the amount that Apple Company will record as total payroll taxes for August?

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Definitions:

Change in Supply

An alteration in the quantity of a product that producers are willing and able to sell in the market, due to factors like changes in cost of production or technological improvements.

Quantity Supplied

The quantity supplied refers to the amount of a good or service that producers are willing to sell at a given price over a specified period.

Rationing Function

The process by which a scarce resource is distributed among competing users.

Dynamic Pricing

A pricing strategy where prices are adjusted in real-time based on demand, supply, and other market conditions.