For each employee, first calculate gross pay. Then determinetaxable income used to calculate federal income tax withholding,Social Security tax, and Medicare tax.

NOTE: For simplicity, all calculations throughoutthis exercise, both intermediate and final, should be rounded totwo decimal places at each calculation.

1:An employee works 42 hours (42 - 40 were overtime hours)during a workweek in December of 2017. He earns $40.50/hour, withhis employer paying 1.5 times the regular rate of pay for overtimehours. To date, he has earned $126,600 during the year. He hasrequested that his employer withhold 7% of gross pay, which is tobe contributed to a 403(b) plan.

Taxable income for federal income tax withholding = $
Taxable income for social security tax = $
Taxable income for medicare tax = $

2:. An employee works 37 regular hours during a workweek inAugust of 2017. He was hired four years ago, earns a salary of$135,100/year, and is exempt from the overtime provisions of theFLSA. To date, he has received no compensation beyond his annualsalary. He has requested that his employer withhold 8% of grosspay, which is to be contributed to a 401(k) plan.

Taxable income for federal income tax withholding = $
Taxable income for social security tax = $
Taxable income for medicare tax = $

3:An employee works 50 hours (50 - 40 were overtime hours)during a workweek in December of 2017. He earns $9,500/month, withhis employer paying 1.5 times the regular rate of pay for overtimehours. To date, he has earned $109,700 during the year. He hasrequested that his employer withhold 13% of gross pay to contributeto a 403(b) plan.

Taxable income for federal income tax withholding = $
Taxable income for social security tax = $
Taxable income for medicare tax = $

For each employee listed, use the wage-bracket method tocalculate federal income tax withholding. Refer to Appendix A, 2017Federal Tax Tables in your textbook.

NOTE: For simplicity, all calculations throughoutthis exercise, both intermediate and final, should be rounded totwo decimal places at each calculation.

1:Paul Yount (married; 7 federal withholding allowances) earnedweekly gross pay of $605.

Federal income tax withholding = $

2:Paulina Robinson (single; 3 federal withholding allowances)earned biweekly gross pay of $1,245. She contributes $75 to aflexible spending account during the period.

Federal income tax withholding = $

3:Lacey Kunis (single; 2 federal withholding allowances) earnedmonthly gross pay of $3,090. For each period, she makes a 401(k)contribution of 11% of gross pay.

Federal income tax withholding = $

4:Francine Stewart (married; 4 federal withholding allowances)earned semimonthly gross pay of $1,420. She contributes $125 to acafeteria plan during the period.

Federal income tax withholding = $