Union Apparel has sales including sales taxes for the month of $551,200.If the sales tax rate is 6%,how much does Union Apparel owe for sales tax?

Question

Quizplus · Accepted Answer

To find out how much Union Apparel owes for sales tax, we need to first find out the portion of the sales that is attributed to sales tax. If the total sales amount is $551,200 and the sales tax rate is 6%, then we can set up the following equation:

Sales including taxes = Sales amount + (Sales amount x Sales tax rate)

$551,200 = Sales amount + (Sales amount x 0.06)

To solve for the Sales amount, we can rewrite the equation as:

Sales amount = $551,200 / 1.06

Sales amount = $520,000

Now that we know the sales amount without taxes, we can find out how much Union Apparel owes for sales tax by calculating:

Sales tax = Sales amount x Sales tax rate

Sales tax = $520,000 x 0.06

Sales tax = $31,200

Therefore, the correct answer is C) $31,200.

Union Apparel Has Sales Including Sales Taxes for the Month