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Use the following to answer questions 14-18 You have been working at a local distributor...

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Accounting

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Use the following to answer questions 14-18 You have been working at a local distributor for the past couple of years. Your bi-weekly salary is $1,375. Your average income tax rate is 11% plus FICA taxes at 7.65%. Your employer provides health insurance to you which costs your employer $500.00 per pay and costs you $70 per pay (assume this is after tax). Determine the following based on your pay for your LAST paycheck of the year. 14. $ -How much will your employer withhold from your paycheck for federal income taxes? How much will your employer withhold from your paycheck for FICA taxes? (Round to the How much will your employer direct deposit into your bank account for your pay? (round to 17. SWhat is your total cost to your employer for the bi-weekly pay period? (round to the nearest 15. S nearest cent) 16. $ the nearest cent) cent) 18. $If you work 80 hours bi-weekly, what is the average hourly cost to your employer for your services? (round to the nearest cent)

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