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Question - Mike Samson is a college football coach making a base salary of $628,800 a year ($52,400 per month). Employers are required to withhold a 6.2% Social Security tax up to a maximum base amount and a 1.45% Medicare tax with no maximum. Assuming the FICA base amount is $128,400.
Required -
1. Compute how much will be withheld during the year for Coach Samson's Social Security and Medicare.
2. What matching amount will the employer need to contribute?
What is the amount of cost per equivalent unit for direct materials using the weighted-average method
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