The following information about the weekly payroll was obtained from the records of Boltz Co$.$: Salaries: Deductions: Sales salaries $$325,000$ Income tax withheld $$119,000$ Warehouse salaries $196,000$ U$.$S$.$ savings bonds $14,344$ Office salaries $131,000$ Group insurance $11,736$ $$652,000$ Tax rates assumed: Social security $6\%$ State unemployment $($employer only$)5\mathrm{.}4\%$ Medicare $1\mathrm{.}5\%$ Federal unemployment $($employer only$)0\mathrm{.}8\%$.

Required: $1.$ Assuming that the payroll related to the first full week of the year and was paid

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1 Assuming that the payroll related to the first full week of the year and was paid during that same ... View the full answer