An employee receives an hourly rate of $15, with time and a half for all hours worked in excess of 40 during the week. Payroll data for the current week are as follows: hours worked, 46; federal income tax withheld, $110; cumulative earnings for the year prior to this week, $24,500; Social security tax rate, 6% on maximum of $100,000; and Medicare tax rate, 1.5% on all earnings; state
unemployment compensation tax, 3.4% on the first $7,000; federal unemployment compensation tax, .8% on the first $7,000. What is the net amount to be paid the employee?
A) $569.87
B) $539.00
C) $625.00
D) $544.88
A
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An example of a discretionary fixed cost would be:
a. property taxes. b. rent. c. insurance. d. depreciation. e. advertising.
Answer the following statements true (T) or false (F)
1. One of the main goals of U.S. labor relations law is to give workers the freedom to negotiate individual contracts with their employers. 2. Mandatory bargaining items include wages, hours and the terms and conditions of employment. 3. A union and employer can agree to terms that directly contradict existing legal requirements as long as they are both willing parties to the agreement. 4. Employers and unions can bargain over permissive items if they choose, but since they are outside the boundaries of the NLRA, the NLRB cannot order bargaining on these issues. 5. If a union proposes changes to a permissive bargaining issue, the employer must show a good faith effort to consider the proposal.
In order to file a Chapter 13 bankruptcy petition, the debtor must have:
A) Regular income. B) No secured debt. C) Be prepared to pay off all their debts. D) Be prepared to lose their assets.
The UCC imposes special business standards on merchants because of their relatively high degree of commercial expertise.
Answer the following statement true (T) or false (F)