Explain the way in which the federal award programs should be audited in the context of single audit, under a risk-based approach.

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Explain the way in which the federal award programs should be audited in the context of single audit, under a risk-based approach.

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Damerly Company (a Utah employer) wants to give a holiday bonus check of $375 to each employee. As it wants the check amount to be $375, it will need to gross-up the amount of the bonus. Calculate the withholding taxes and the gross amount of the bonus to be made to John Rolen if his cumulative earnings for the year are $46,910. Besides being subject to social security taxes and federal income tax (supplemental rate), a 4.95% Utah income tax must be withheld on supplemental payments.

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