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Action Travel Has 10 Employees Each Working 40 Hours Per

question 77

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Action Travel has 10 employees each working 40 hours per week and earning $20 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?


Definitions:

Sample Mean

The average of a sample set of numbers, calculated by adding up all the numbers and dividing by the count of numbers in the set.

Sample Mean

The average value of a sample set of numbers.

Freshmen

First-year students in a secondary or post-secondary educational institution.

Probability

The evaluation of how probable an event is, shown as a numerical value between 0 and 1, where 0 stands for the event being impossible and 1 representing absolute certainty of the event occurring.

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