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Table 1:Table 2:

Jim Push, a manager for Marvy Co., has weekly earnings subject to deductions for Social Security, Medicare, and FIT. Before this payroll, Jim is $500 below the maximum level for Social Security. What will his net pay be if he earns $760? Jim is married and claims one exemption. Use the percentage method. Assume a FICA tax rate of 6.2% on $118,500. (Use Table 7.1 and Table 7.2) (Round your final answer to the nearest cent.) $ [ Payroll Period Pekiy . . . . . . . . . . . . . . . . . . . . . . . . . Weekly ........ Biweekly . . . . . . . . Semimonthly .. Monthly ......... Quarterly ........ Semiannually ........ Annually ................. Daily or miscellaneous (each day of the payroll period) .................... One Withholding Allowance $ 76.90 153.80 166.70 333.30 1,000.00 2,000.00 4,000.00 15.40 Percentage Method Tables for Income Tax Withholding TABLE 1-WEEKLY Payroll Period -$44 -S165 (a) SINGLE person (including head of household) (b) MARRIED person- If the amount of wages If the amount of wages (after subtracting The amount of income tax (after subtracting The amount of income tax withholding allowances) is: to withhold is: withholding allowances) is: to withhold is: Not over $44.......... 50 Not over $165 ......... SO Over- But not over- of excess over-Over- But not over- of excess over- $44 -$222 .. $0.00 plus 10% $165 - $520 .. $0.00 plus 10% $222 -$764 . . $17.80 plus 15% -$222 $520 -$1,606 .. $35.50 plus 15% -$520 $764 -$1,789 . $99.10 plus 25% -$764 $1,606 -$3,073 . . $198.40 plus 25% ---$1,606 $1,789 -$3,685 .. $355.35 plus 28% -$1,789 $3,073 -$4,597 .. $565.15 plus 28% -$3,073 $3,685 $7,958 . . $836.23 plus 33% -$3,685 $4,597 -$8,079 .. $991.87 plus 33% -$4,597 $7,958 - $7,990 , $2296.32 plus 35% -$7,958 $8,079 -$9,105. $2,140.93 plus 35% -$8,079 $7,990.. $2,307.52 plus 39.6% -$7,990 $9,105 ....... ... $2,50 . $2,500.03 plus 39.6% -$9,105 TABLE 2-BIWEEKLY Payroll Period (a) SINGLE person (including head of household) (b) MARRIED person- If the amount of wages If the amount of wages (after subtracting The amount of income tax (after subtracting The amount of income tax withholding allowances) is: to withhold is: withholding allowances) is: to withhold is: Not over $88 ....... SO Not over $331 ........ SO Over- But not over- of excess over-Over- But not over- of excess over- $88 -$443 . $0.00 plus 10% -$88 $331 -$1,040 .. $0.00 plus 10% -$331 $443 51,529.$35.50 plus 15% -$443 $1,040 -$3,212 .. $70.90 plus 15% -$1,040 $1,529 -$3,579 . . $198.40 plus 25% -31,529 $3,212 -$6,146 .. $396.70 plus 25% -$3,212 $3,579 -$7,369.. $710.90 plus 28% -33,579 $6,146 $9,194.. $1,130.20 plus 28% -$6,146 $7,369 $15,915 . . $1.772.10 plus 33% -37,369 $9,194 $16,158 .. $1,983.64 plus 33% -$9,194 $15,915 -$15,981 .. $4.592.28 plus 35% -$15,915 $16,158 -$18,210 .. $4,281.76 plus 35% -$16,158 $4.615.38 plus 39.6% -$15,981 $18,210 $4,999.96 plus 39.6% $18,210 TABLE 3-SEMIMONTHLY Payroll Period (a) SINGLE person (including head of household) (b) MARRIED person- If the amount of wages If the amount of wages (after subtracting The amount of income tax (after subtracting The amount of income tax withholding allowances) is: to withhold is: withholding allowances) is: to withhold is: Not over $96.......... SO Not over $358 ......... $0 Over- But not over- of excess over-Over- But not over- of excess over- $96 -$480 $0.00 plus 10% -$96 $358 -$1,127 .$0.00 plus 10% -$358 $480 -$1,656 .. $33.40 plus 15% -$480 $1,127 -$3,479 .. $76.90 plus 15% -$1,127 $1,656 -$3,877 $214.80 plus 25% -31,656 $3,479 -$6,658 .. $429.70 plus 25% -$3,479 $3,877 -$7,983. . $770.05 plus 28% -$3,877 $6,658 -$9,960.. $1,224.45 plus 28% -$6,658 $7,983 -$17,242 . . $1.919.73 plus 33% -$7,983 $9,960 -$17.504 .. $2,149.01 plus 33% -$9,960 $17.242 -$17,313 $4.975.20 plus 35% -$17,242 $17.504 -$19,727 .. $4,638.53 plus 35% -$17,504 $17,313............ $5,000.05 plus 39.6% -$17,313 $19,727 . . . . . . . . . . . . $5,416.58 plus 39.6% -$19,727 TABLE 4MONTHLY Payroll Period (a) SINGLE person (including head of household) (b) MARRIED person- If the amount of wages If the amount of wages (after subtracting The amount of income tax (after subtracting The amount of income tax withholding allowances) is: to withhold is: withholding allowances) is: to withhold is: Not over $192 ......... 50 Not over $717 ..... Over- But not over- of excess over-Over- But not over- of excess over- $192 -9960 $0.00 plus 10% -$192 $717 - $2,254 .. $0.00 plus 10% -$717 $960 -$3,313 .. $76.80 plus 15% -$960 $2,254 $6,958 . . $153.70 plus 15% - $2,254 $3,313 -$7,754 .$429.75 plus 25% -33,313 $6,958 -$13,317 .. $859.30 plus 25% -$6,958 $7,754 -$15,967 . . $1.540.00 plus 28% -$7,754 $13,317 -$19,921 . $2,449.05 plus 28% -$13,317 $15,967 -$34,483 .. $3,839.64 plus 33% -$15,967 $19,921 -$35,008 .. $4,298.17 plus 33% -$19,921 $34,483 -$34,625 .. $9.949.92 plus 35% -$34,483 $35,008 - $39,454 .. $9,276.88 plus 35% -$35,008 $34.625... $9.999.62 plus 39.6% -$34,625 $39,454 ............ $10,832.98 plus 39.6% -$39,454 Jim Push, a manager for Marvy Co., has weekly earnings subject to deductions for Social Security, Medicare, and FIT. Before this payroll, Jim is $500 below the maximum level for Social Security. What will his net pay be if he earns $760? Jim is married and claims one exemption. Use the percentage method. Assume a FICA tax rate of 6.2% on $118,500. (Use Table 7.1 and Table 7.2) (Round your final answer to the nearest cent.) $ [ Payroll Period Pekiy . . . . . . . . . . . . . . . . . . . . . . . . . Weekly ........ Biweekly . . . . . . . . Semimonthly .. Monthly ......... Quarterly ........ Semiannually ........ Annually ................. Daily or miscellaneous (each day of the payroll period) .................... One Withholding Allowance $ 76.90 153.80 166.70 333.30 1,000.00 2,000.00 4,000.00 15.40 Percentage Method Tables for Income Tax Withholding TABLE 1-WEEKLY Payroll Period -$44 -S165 (a) SINGLE person (including head of household) (b) MARRIED person- If the amount of wages If the amount of wages (after subtracting The amount of income tax (after subtracting The amount of income tax withholding allowances) is: to withhold is: withholding allowances) is: to withhold is: Not over $44.......... 50 Not over $165 ......... SO Over- But not over- of excess over-Over- But not over- of excess over- $44 -$222 .. $0.00 plus 10% $165 - $520 .. $0.00 plus 10% $222 -$764 . . $17.80 plus 15% -$222 $520 -$1,606 .. $35.50 plus 15% -$520 $764 -$1,789 . $99.10 plus 25% -$764 $1,606 -$3,073 . . $198.40 plus 25% ---$1,606 $1,789 -$3,685 .. $355.35 plus 28% -$1,789 $3,073 -$4,597 .. $565.15 plus 28% -$3,073 $3,685 $7,958 . . $836.23 plus 33% -$3,685 $4,597 -$8,079 .. $991.87 plus 33% -$4,597 $7,958 - $7,990 , $2296.32 plus 35% -$7,958 $8,079 -$9,105. $2,140.93 plus 35% -$8,079 $7,990.. $2,307.52 plus 39.6% -$7,990 $9,105 ....... ... $2,50 . $2,500.03 plus 39.6% -$9,105 TABLE 2-BIWEEKLY Payroll Period (a) SINGLE person (including head of household) (b) MARRIED person- If the amount of wages If the amount of wages (after subtracting The amount of income tax (after subtracting The amount of income tax withholding allowances) is: to withhold is: withholding allowances) is: to withhold is: Not over $88 ....... SO Not over $331 ........ SO Over- But not over- of excess over-Over- But not over- of excess over- $88 -$443 . $0.00 plus 10% -$88 $331 -$1,040 .. $0.00 plus 10% -$331 $443 51,529.$35.50 plus 15% -$443 $1,040 -$3,212 .. $70.90 plus 15% -$1,040 $1,529 -$3,579 . . $198.40 plus 25% -31,529 $3,212 -$6,146 .. $396.70 plus 25% -$3,212 $3,579 -$7,369.. $710.90 plus 28% -33,579 $6,146 $9,194.. $1,130.20 plus 28% -$6,146 $7,369 $15,915 . . $1.772.10 plus 33% -37,369 $9,194 $16,158 .. $1,983.64 plus 33% -$9,194 $15,915 -$15,981 .. $4.592.28 plus 35% -$15,915 $16,158 -$18,210 .. $4,281.76 plus 35% -$16,158 $4.615.38 plus 39.6% -$15,981 $18,210 $4,999.96 plus 39.6% $18,210 TABLE 3-SEMIMONTHLY Payroll Period (a) SINGLE person (including head of household) (b) MARRIED person- If the amount of wages If the amount of wages (after subtracting The amount of income tax (after subtracting The amount of income tax withholding allowances) is: to withhold is: withholding allowances) is: to withhold is: Not over $96.......... SO Not over $358 ......... $0 Over- But not over- of excess over-Over- But not over- of excess over- $96 -$480 $0.00 plus 10% -$96 $358 -$1,127 .$0.00 plus 10% -$358 $480 -$1,656 .. $33.40 plus 15% -$480 $1,127 -$3,479 .. $76.90 plus 15% -$1,127 $1,656 -$3,877 $214.80 plus 25% -31,656 $3,479 -$6,658 .. $429.70 plus 25% -$3,479 $3,877 -$7,983. . $770.05 plus 28% -$3,877 $6,658 -$9,960.. $1,224.45 plus 28% -$6,658 $7,983 -$17,242 . . $1.919.73 plus 33% -$7,983 $9,960 -$17.504 .. $2,149.01 plus 33% -$9,960 $17.242 -$17,313 $4.975.20 plus 35% -$17,242 $17.504 -$19,727 .. $4,638.53 plus 35% -$17,504 $17,313............ $5,000.05 plus 39.6% -$17,313 $19,727 . . . . . . . . . . . . $5,416.58 plus 39.6% -$19,727 TABLE 4MONTHLY Payroll Period (a) SINGLE person (including head of household) (b) MARRIED person- If the amount of wages If the amount of wages (after subtracting The amount of income tax (after subtracting The amount of income tax withholding allowances) is: to withhold is: withholding allowances) is: to withhold is: Not over $192 ......... 50 Not over $717 ..... Over- But not over- of excess over-Over- But not over- of excess over- $192 -9960 $0.00 plus 10% -$192 $717 - $2,254 .. $0.00 plus 10% -$717 $960 -$3,313 .. $76.80 plus 15% -$960 $2,254 $6,958 . . $153.70 plus 15% - $2,254 $3,313 -$7,754 .$429.75 plus 25% -33,313 $6,958 -$13,317 .. $859.30 plus 25% -$6,958 $7,754 -$15,967 . . $1.540.00 plus 28% -$7,754 $13,317 -$19,921 . $2,449.05 plus 28% -$13,317 $15,967 -$34,483 .. $3,839.64 plus 33% -$15,967 $19,921 -$35,008 .. $4,298.17 plus 33% -$19,921 $34,483 -$34,625 .. $9.949.92 plus 35% -$34,483 $35,008 - $39,454 .. $9,276.88 plus 35% -$35,008 $34.625... $9.999.62 plus 39.6% -$34,625 $39,454 ............ $10,832.98 plus 39.6% -$39,454

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