Question

juanita has a part-time job that pays $12/hour and works about 50 hours every month. her withholdings are social security (6.2%), medicare (1.45%) and federal income tax (10%). what is her approximate net pay? $120 $600 $500 $700 question 5 2 pts which of the following statements about the w-2 form is true? a w-2 lists all the money you earned in cash over the last year you need a separate w-2 form from each of your employers in order to file your taxes the total wages you earned from all jobs you worked in the previous year appear on one w-2 form the w-2 includes information about the interest you earned from your investments question 6 2 pts which of these boxes of cereal has the lowest unit price? cereal b, which costs $5.00 for a 32 oz. box cereal d, which costs $4.50 for an 8 oz box cereal c, which costs $2.50 for a 10 oz. box cereal a, which costs $3.20 for a 16 oz. box

Explanation:

First Question (Juanita's Net Pay)

Step1: Calculate Gross Pay

Gross pay = hourly rate × hours worked = \( \$12 \times 50 = \$600 \)

Step2: Calculate Total Withholding Rate

Total withholding rate = Social Security rate + Medicare rate + Federal income tax rate = \( 6.2\% + 1.45\% + 10\% = 17.65\% \)

Step3: Calculate Net Pay

Net pay = Gross pay × (1 - total withholding rate) = \( \$600 \times (1 - 0.1765) = \$600 \times 0.8235 \approx \$494.1 \), which is approximately \$500.

• Option 1: W-2 includes all earnings (not just cash), so false.
• Option 2: Each employer provides a W-2, so you need one from each to file taxes. This is true.
• Option 3: W-2 is per employer, not combined, so false.
• Option 4: Interest from investments is on 1099 - INT, not W-2, so false.

Step1: Calculate Unit Price for Cereal A

Unit price = \( \frac{\$3.20}{16\ \text{oz}} = \$0.20/\text{oz} \)

Step2: Calculate Unit Price for Cereal B

Unit price = \( \frac{\$5.00}{32\ \text{oz}} \approx \$0.15625/\text{oz} \)

Step3: Calculate Unit Price for Cereal C

Unit price = \( \frac{\$2.50}{10\ \text{oz}} = \$0.25/\text{oz} \)

Step4: Calculate Unit Price for Cereal D

Unit price = \( \frac{\$4.50}{8\ \text{oz}} = \$0.5625/\text{oz} \)
Comparing the unit prices, Cereal B has the lowest.

Answer:

\$500

Question 5 (W-2 Form)