Question

1. You work at the Peawingspan Blue store 40 hours/week over five days at a rate of $9.25/hour. Deductions are FICA (7.65%), federal withholding (12%), and state withholding (8%). Your expenses are transportation at $5.25/day, lunch at $3.85/day, and black slacks required for work at $19.95. How much is your discretionary income for one work week?
A. $324.50
B. $304.55
C. $222.19
D. $202.24

Answer 1

Tiny bit more intense than the last one. Haha

Answer 2

Right so first all you have to do is take the important information out.

Answer 3

Alright.

Answer 4

40 hours/week over five days at a rate of $9.25/hour.
Deductions are FICA (7.65%),
federal withholding (12%)
state withholding (8%).
transportation at $5.25/day,
lunch at $3.85/day
black slacks required for work at $19.95.

Answer 5

Right, now we find the total income, so hours x rate
then add the percentages of the taxes and stuff
and add the per day payments for necessities

Answer 6

and for now we will leave the slacks

Answer 7

Okay, a moment.

Answer 8

Take your time

Answer 9

xD I screwed up somewhere. Not really sure how to add the percentages of the taxes an stuff.

Answer 10

8+12+7.65=Total%

Answer 11

2.61%?

Answer 12

Hmm, just add the numbers i just gave you and put a percentage sign at the end of it.
Out of curiosity how did you get 2.61

Answer 13

or 9.56%?

Answer 14

Oh shoot, that looked like a division sign. My bad.

Answer 15

Oh i see :)

Answer 16

27.65%

Answer 17

xD haha

Answer 18

Correct
Total Income=?
Total Percentage=27.65%
And per day expenses=?

2 to go

Answer 19

I'm to tired to figure Total income correctly, I tried multiple ways and it seems to be wrong every time. But per day expenses would be: 45.5

Answer 20

Okayy, for income just do: Hours of work x Rate per hour.

while i check the per day expenses

Answer 21

370

Answer 22

See, I was like dividing n stuff.

Answer 23

lol, So per day expenses is correct, but you did it for the 5 days he works which is good to see

so
T.I. : $270
Tax:27.65
Expenses for 5 days of work: $45.5
Slacks: $19.95

Now, find 27.65% of 270

Answer 24

What is the formula/"equation format" for that?
And how did you get 270 for total income? Was I not supposed to do it for the 5 days he works?

Answer 25

It said he works 40 hours per week, on which he works five days, 40 hours is already done according to 5 days

Answer 26

27.65% of 270=74.655

Working example:

Find 60% of 1200

To work out a percentage of something
divide the percentage by 100
60 / 100 = 0.6

then
multiply the answer by the subject number
0.6 * 1200 = 720

Answer: 60% of 1200 = 720

Answer 27

Oooh. Okay.

Answer 28

Now do we just deduct the expenses and slacks from the new total income?

Answer 29

Right so now we add the all the costs together

74.655+45.5+19.95=?

Answer 30

140.105

Answer 31

370-140.105=229.9

Not one of the answers lemme try one more thing.
Umm your addition of total costs is incorrect

Answer 32

my bad it is right

Answer 33

Maybe we can retrace our steps and plug in one of the multiple choice answers such as, $222.19, somehow and figure it out that way?

Answer 34

okayy

Answer 35

there are two things which i see where we might have gone wrong, either we have to take each percentage out separately or the slacks aren't a necessity

Answer 36

Well it says the slacks are required for work, so I think they might be. Might have to take out each percent separately.

Answer 37

Like you were saying.

Answer 38

kayy lets do that then

Answer 39

Oh oh, I think I know

Answer 40

yes?

Answer 41

Nvm, checked, not the issue.

Answer 42

lol

Answer 43

Be right back a second.

Answer 44

Okay back

Answer 45

7.65% of 370 = 28.305

370-28.305= 341.695

12% of 341.695= 41.0034

341.695 - 41.0034= 300.6916

8% of 300.6916 = 24.055328

300.6916 - 24.055328= 276.636272

276.636272-(45.5+19.95) =211.186272

Answer 46

:(

Answer 47

So most likely 222.19?

Answer 48

Id say so its in the middle of both answers

Answer 49

Yeah

Answer 50

Thank you very much with this one especially, haha

Answer 51

Well that took longer than i thought it would :P , sorry bout my long methods but i try to tell you how to do it so next time you dont have to come back here :)

Answer 52

no problem

Answer 53

Haha yeah, it is nice to learn it at times and not be told all the time. Although being told is perfectly fine, but I think I prefer this method, when I have more patience. It was D sadly.