See attached two finance question problems show work
Calculate the costs and profit in excess of billing or billing in excess cost of profit AND the percentage complete based on the following information. MUST show all work to receive full credit.
Contract amount $230,000
Total Estimated Cost to Complete $225,000
Actual Costs to Date $200,000
Total Billed $180,000
Calculate the following taxes for this week’s pay 12/15/yr 1 (be sure to label each answer clearly and show all calculations to receive full credit):
Wages this pay check: 12/15/yr 1: $5,000
1) FICA (6.2% on wages to $85,000)
2) FUTA (.8% on wages to $7,000)
3) Worker’s compensation (.85 per $100 of wages)
Additional Information:
Wages year to date with bonus as of 12/8/yr 1: $100,000
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