usan Garza's regular hourly wage rate is $16, and she receives a wage of 1...

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Accounting

usan Garza's regular hourly wage rate is $16, and she receives a wage of 1 times the regular hourly rate for work in excess of 40 hours. During a March weekly pay period, Susan worked 42 hours. Her gross earnings prior to the current week were $6,900. Susan is married and claims three withholding allowances. Her only voluntary deduction is for group hospitalization insurance at $25 per week. All earnings are subject to Social Security tax.

MARRIED Persons WEEKLY Payroll Period
(For Wages Paid through December 2017)

If the wages are

And the number of withholding allowances claimed is

At least

But less than

0 1 2 3 4 5 6 7 8 9 10
The amount of income tax to be withheld is
500

510

34 27 19 11 4 0 0 0 0 0

0

510

520

35 28 20 12 5 0 0 0 0 0

0

520

530

37 29 21 13 6 0 0 0 0 0

0

530

540

38 30 22 14 7 0 0 0 0 0

0

540

550

40 31 23 15 8 0 0 0 0 0

0

550

560

41 32 24 16 9 1 0 0 0 0

0

560

570

43 33 25 17 10 2 0 0 0 0

0

570

580

44 34 26 18 11 3 0 0 0 0

0

580

590

46 35 27 19 12 4 0 0 0 0

0

590

600

47 36 28 20 13 5 0 0 0 0

0

600

610

49 38 29 21 14 6 0 0 0 0

0

610

620

50 39 30 22 15 7 0 0 0 0

0

620

630

52 41 31 23 16 8 1 0 0 0

0

630

640

53 42 32 24 17 9 2 0 0 0

0

640

650

55 44 33 25 18 10 3 0 0 0

0

650

660

56 45 34 26 19 11 4 0 0 0

0

660

670

58 47 35 27 20 12 5 0 0 0

0

670

680

59 48 37 28 21 13 6 0 0 0

0

680

690

61 50 38 29 22 14 7 0 0 0

0

690

700

62 51 40 30 23 15 8 0 0 0

0

Compute the following amounts for Susans wages for the current week. (Round FICA taxes, State income taxes and Net pay answers to 2 decimal places, e.g. 52.55.)

(1) Gross earnings. $enter a dollar amount
(2) FICA taxes. (The 7.65% FICA tax rate consists of the Social Security tax rate of 6.2% on salaries and wages up to $128,400 and the Medicare tax rate of 1.45% on all salaries and wages.) $enter a dollar amount rounded to 2 decimal places
(3) Federal income taxes withheld. $enter a dollar amount
(4) State income taxes withheld. (Assume a 2.0% rate.) $enter a dollar amount rounded to 2 decimal places
(5) Net pay. $enter a dollar amount rounded to 2 decimal places

eTextbook and Media

List of Accounts

Record Susans pay. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 52.75.)

Account Titles and Explanation

Debit

Credit

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

Answer & Explanation Solved by verified expert
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