Question 2
figure: price ceiling
$12
to
270 290 310
reference: ref 5-1 (8-1)
(figure: price ceiling) refer to the figure. a price ceiling of $10 results in a:
a. surplus of 270 units.
b. shortage of 270 units.
c. shortage of 40 units.
d. surplus of 40 units.

On january 8, the end of the first weekly pay period of the year, regis company's payroll register showed that its employees earned $22,760 of office salaries and $70,840 of sales salaries. withholdings from the employees' salaries include fica social security taxes at the rate of 6.20%, fica medicare taxes at the rate of 1.45%, $13,260 of federal income taxes, $1,450 of medical insurance deductions, and $860 of union dues. no employee earned more than $7,000 in this first pay period. required: 1.1 calculate below the amounts for each of these four taxes of regis company. regis’s merit rating reduces its state unemployment tax rate to 3% of the first $7,000 paid to each employee. the federal unemployment tax rate is 0.60