Business, 14.02.2020 05:24 seasmarie75

The portion of the Federal Insruance Contributions Act (FICA) tax paid by employers is 7.65 percent and the portion paid by employees is 7.65 percent (for a total of 15.3 percent).
Suppose that absent FICA taxes, workers receive a competitive equilibrium wage of $10.00 per hour and that with FICA taxes divided equally between employers and employees, the market wage is $9.52 per hour. What is the incidence of the FICA tax? For simplicity, assume employers pay $0.765 in FICA taxes and workers pay $0.765 in FICA taxes for a total of $1.53.
In this example, works pay percent of the FICA tax and employers pay ___ of this tax. (Enter your responses rounded to one decimal places.)

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 09:40

Newton industries is considering a project and has developed the following estimates: unit sales = 4,800, price per unit = $67, variable cost per unit = $42, annual fixed costs = $11,900. the depreciation is $14,700 a year and the tax rate is 34 percent. what effect would an increase of $1 in the selling price have on the operating cash flow?

Answers: 2

Answer

Business, 22.06.2019 13:40

Salge inc. bases its manufacturing overhead budget on budgeted direct labor-hours. the variable overhead rate is $8.10 per direct labor-hour. the company's budgeted fixed manufacturing overhead is $74,730 per month, which includes depreciation of $20,670. all other fixed manufacturing overhead costs represent current cash flows. the direct labor budget indicates that 5,300 direct labor-hours will be required in september. the company recomputes its predetermined overhead rate every month. the predetermined overhead rate for september should be:

Answers: 3

Answer

Business, 23.06.2019 10:20

George wants to collect funds to open his own bakery from his family. he needs an accurate estimate of how much money he would require to run the bakery for at least six months. he has to buy a shop (costing $3,500) and buy an oven (costing $600). his start-up costs, including various utility costs, would be $300. he has calculated his monthly expenses as $250. how much money would george require to start his business and run it for at least six months? a. $3500b. $5,900c. $7,200d. $7,400e. $8,200its not c.7200 tried it

Answers: 1

Answer

Business, 23.06.2019 11:30

In a database table, each record is usually displayed on its own separate a. column b. field c. row d. cell

Answers: 1

Answer

You know the right answer?

The portion of the Federal Insruance Contributions Act (FICA) tax paid by employers is 7.65 percent...

Questions