Rock Adventures Has 15 Employees Each Working 40 Hours Per

question 136

Multiple Choice

Rock Adventures has 15 employees each working 40 hours per week and earning $30 an hour.Federal income taxes are withheld at 15% and state income taxes at 6%.FICA taxes are 7.65% and unemployment taxes are 3.8% of the first $7,000 earned per employee.What is the actual direct deposit of payroll for the first week of January?

• A)$13,923.
• B)$12,843.
• C)$5,157.

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Definitions:

Utility Function

A mathematical representation of how a consumer ranks different bundles of goods based on their level of satisfaction.

Corn Chips

Snack foods made from cornmeal and fried or baked in oil.

Corn Chips

Snack food made from cornmeal fried or baked in oil, often seasoned, known for their crunchiness and popular as a party snack.

French Fries

Sliced potatoes that are deep-fried until golden brown and are often served as a side dish.