A. $3,754.05 B. $3,768.61 C. $4,775.68 D. $1,099.28 Fred is considering three job offers in advertising.A full-time position as a coordinator that pays a salary of $40,000 per year.• A full-time position as a designer that pays an hourly wage of $28. The job assumes five 8-hour days per week.• A sales representative that pays a 5% commission. Sales reps typically sell an average of $100,000 per month in advertising.The following are the specifics about the benefits of the job opportunities:• The U.S. government will deduct Social Security (6.2%) and Medicare (1.45%).• Fred will deduct 15% of Gross Income to cover Federal Income Tax.Fred does not live in a state with State Income Tax.Fred is planning on taking two weeks of vacation and has typically been sick 3 days per year.• The Coordinator job includes two weeks of paid vacation and five paid sick days per year, paid health insurance, life insurance costing $35 per month, and a fullypaid retirement plan.• The Designer job includes five paid vacation days and three paid sick days per year, paid health insurance, life insurance costing $35 per month, and aretirement plan that costs 3% of after tax income.• The Sales job has no paid vacation or sick days, paid health and life insurance, and a retirement plan that costs $350 per month.15. What is the AFTER-TAX MONTHLY INCOME for the DESIGNER position?

Name: A. $3,754.05 B. $3,768.61 C. $4,775.68
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Description: A. $3,754.05 B. $3,768.61 C. $4,775.68 D. $1,099.28 Fred is considering three job offers in advertising.A full-time position as a coordinator that pays a salary of $40,000 per year.• A full-time position as a designer

The after tax income of an individual is calculated by deducting the paid taxes from the income for…

Answered: $4,775.68

Business

Accounting

$4,775.68

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter9: Deduct Ions: Employee And Self-employed - Related Expenses

Section: Chapter Questions

Problem 42P

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