August is an employee at Ruby Investments, with an annual salary of $88,000, paid biweekly. August has the following fringe andvoluntary benefits:WNWOMedical insurance: $490 per month401(k): 3 percent of gross payFlexible spending arrangement: $2,685 annuallyCharitable contributions: $65 per pay periodRequired:What is the total amount August contributes to fringe benefits and voluntary deductions annually?Medical insurance401(k)Flexible spending arrangementCharitable contributionsTotal amount August contributes to fringe benefits and voluntary deductions annually

Fringe benefits are compensation given by the company over and above the salary paid to its…

Answered: August is an employee at Ruby…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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oters 7-9) A Saved Pat Maninen earns a gross salary of $4,400 each week. Assume a rate of 6.2% on $128,400 for Social Security and 1.45% for Medicare. a. What are Pat's first week's deductions for Social Security and Medicare? (Round your answers to the nearest cent.) Deductions Social Security Medicare b. Will any of Pat's wages be exempt from Social Security and Medicare for the calendar year? (Leave no cells blahk - be certain to enter "O" wherever required.) Social Security Medicare Mc Graw Hill DII 23 %24 % 6. 8. 2 3 4. r y e a m
Shiloh is an employee at Jankoski Cycles and earns an annual salary of $37,765, paid semimonthly. Shiloh contributes to the following fringe benefits and other deductions: Medical insurance: $220 per pay period Dental insurance: $15 per pay period 401(k): 6 percent of gross pay • Additional withholding: $125 per month Required: What is the total annual amount of Shiloh's fringe benefits and other deductions? Note: Round your answers to 2 decimal places. Fringe benefits Medical insurance Dental insurance 401(k) Additional withholding Total annual amount of Shiloh's fringe benefits and other deductions Amount
Dog
Calculate net pay in the following example. Assume that FICA reate is 7.65%, FITW is 15% and the employee did not earn more than $50,000. Robert is paid $475 per week and makes a pretax contribution of $75 for medical insurance to his employer's flexible benefit plan. Do not include a dollar sign in your answer. Round to the nearest tenth.
Elodie is paid her commissions together with her bi-weekly salary of $1,000.00. This pay period her commissions are $4,300.00. Calculate her Québec Pension Plan contribution for this pay period. Your answer:
Am.102.
Sammy's employer pays for 40% of her annual health insurance premium of $5,150.00. Sammy pays the remaining balance by having it deducted in equal amounts from her 26 paychecks throughout the calendar year. How much will Sammy have deducted from each paycheck?
Anita pays 50% of the total cost for her benefits, her employer pays the other 50%. The total monthly premium for health is $167.50 and $75.50 for dental. She is paid weekly What is the total combined (health & dental) amount payable recorded for this pay period?
Supermarket Caridad offers its employees vacation benefits and contributes a 2% contribution to a 401K. The employees had total wages of $ 125,000 and vacation benefits of $ 28,460. Calculate how much the employer contributes for the 401k.Make the wage entries related to vacation pay.Make the wage entries related to the 401K contribution.
Gabe contributes 12% of the total cost of his individual health care coverage. He pays $33.45 per week towards this contribution. What is the amount Gabe's employer contributes for health care coverage for the year ?
Welcome Care, a senior citizen day-care center, pays the major portion of its employees' medical insurance. An employee who selects coverage for him/her self and spouse must pay $163 each semimonthly paycheck. An Activities Director is hired at a semimonthly salary of $1750. Blank #1: Find the percentage method income for the Activities Director's semimonthly gross earnings of $1750. They are married with one withholding allowance on their W-4. Answer with units. One Withholding Allowance S 77.90 155.80 168.80 Payroll Perlod Weekly Biweekly Semimonthly Monthly Quarterly Semiannually Annualy Daily or miscellaneous (each day of the payroll period) 337.50 1.012.50 2,025.00 4.050.00 15.60
Vaibhav

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