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The following information about the payroll for the week ended December 30 was obtained from the records of Saine Co.:

**Salaries:**
- Sales salaries: $274,000
- Warehouse salaries: $151,000
- Office salaries: $140,000
- Total Salaries: $565,000

**Deductions:**
- Federal income tax withheld: $99,440
- Social security tax withheld: $33,900
- Medicare tax withheld: $8,475
- Retirement savings: $12,430
- Group insurance: $10,170
- Total Deductions: $164,415

**Tax Rates Assumed:**
- Social security: 6%

Answer :

Final answer:

The total amount of payroll taxes withheld by Saine Co. for the week ended December 30 is $141,515.

Explanation:

To calculate the total amount of payroll taxes withheld by Saine Co. for the week ended December 30, we need to determine the amounts withheld for federal income tax, social security tax, and Medicare tax based on the given information.

From the given information, we can see that the federal income tax withheld is $99,440.

To calculate the social security tax withheld, we need to multiply the total salaries by the social security tax rate of 6%. The total salaries are $274,000 + $151,000 + $140,000 = $565,000. Therefore, the social security tax withheld is 6% of $565,000, which is $33,900.

To calculate the Medicare tax withheld, we need to multiply the total salaries by the Medicare tax rate of 1.45%. Using the same total salaries of $565,000, the Medicare tax withheld is 1.45% of $565,000, which is $8,175.

Now, we can calculate the total amount of payroll taxes withheld by adding the amounts withheld for federal income tax, social security tax, and Medicare tax: $99,440 + $33,900 + $8,175 = $141,515.

Learn more about payroll taxes here:

https://brainly.com/question/14003060

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Final answer:

The total amount of payroll taxes withheld by Saine Co. for the week ended December 30 is $141,515.

Explanation:

To calculate the total amount of payroll taxes withheld by Saine Co. for the week ended December 30, we need to determine the amounts withheld for federal income tax, social security tax, and Medicare tax based on the given information.

From the given information, we can see that the federal income tax withheld is $99,440.

To calculate the social security tax withheld, we need to multiply the total salaries by the social security tax rate of 6%. The total salaries are $274,000 + $151,000 + $140,000 = $565,000. Therefore, the social security tax withheld is 6% of $565,000, which is $33,900.

To calculate the Medicare tax withheld, we need to multiply the total salaries by the Medicare tax rate of 1.45%. Using the same total salaries of $565,000, the Medicare tax withheld is 1.45% of $565,000, which is $8,175.

Now, we can calculate the total amount of payroll taxes withheld by adding the amounts withheld for federal income tax, social security tax, and Medicare tax: $99,440 + $33,900 + $8,175 = $141,515.

Learn more about payroll taxes withheld here:

https://brainly.com/question/14003060

#SPJ14