High School

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

**Salaries:**

- Sales salaries: $625,000
- Warehouse salaries: $240,000
- Office salaries: $320,000

**Total Salaries:** $1,185,000

**Deductions:**

- Income tax withheld: $232,260
- Social security tax withheld: $71,100
- Medicare tax withheld: $17,775
- Retirement savings: $35,500
- Group insurance: $53,325

**Total Deductions:** $409,960

Answer :

The net payroll for the week ended December 30 is $775,040.

Based on the provided information, the total payroll for the week ended December 30 for Saine Co. is $1,185,000. The breakdown of salaries is as follows:

- Sales Salaries: $625,000
- Warehouse Salaries: $240,000
- Office Salaries: $320,000

The deductions from the payroll are as follows:

- Income Tax Withheld: $232,260
- Social Security Tax Withheld: $71,100
- Medicare Tax Withheld: $17,775
- Retirement Savings: $35,500
- Group Insurance: $53,325

To calculate the net payroll, we need to subtract the total deductions from the total payroll:

$1,185,000 - ($232,260 + $71,100 + $17,775 + $35,500 + $53,325) = $775,040

Therefore, the net payroll for the week ended December 30 is $775,040.

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