6. Joseph Flores is paid $452 per week plus a commission of 2% on all sales. Flores sold $712 worth of goods on Monday, $523 on Tuesday, $1002 on Wednesday. $391 on Thursday, and $609 on Friday. Returns and allowances for the week were SI14. Find the employee's (a) Social Security tax (6.2%). (b) Medicare tax (1.45%), and (c) state disability insurance deduction (1%) for the week. [6.3 and 6.4]
6. Joseph Flores is paid $452 per week plus a commission of 2% on all sales. Flores sold $712 worth of goods on Monday, $523 on Tuesday, $1002 on Wednesday. $391 on Thursday, and $609 on Friday. Returns and allowances for the week were SI14. Find the employee's (a) Social Security tax (6.2%). (b) Medicare tax (1.45%), and (c) state disability insurance deduction (1%) for the week. [6.3 and 6.4]
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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