Employee's Share = Annual Amount × Employee's Percent Total Amount Paid by Employee Number of Pay Periods per Year Deduction per Pay Period = 1. Ruth Lockwood earns $2,917 a month as a supervisor for Acme Steel. Her group medical coverage costs $6,240 per year. The company pays 75% of the cost of group insurance. a. Find the percent paid by Ruth. b. Find the total amount paid annually by Ruth. c. How much is deducted each month from her paycheck

Employee's Share = Annual Amount × Employee's Percent Total Amount Paid by Employee Number of Pay Periods per Year Deduction per Pay Period = 1. Ruth Lockwood earns $2,917 a month as a supervisor for Acme Steel. Her group medical coverage costs $6,240 per year. The company pays 75% of the cost of group insurance. a. Find the percent paid by Ruth. b. Find the total amount paid annually by Ruth. c. How much is deducted each month from her paycheck

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee. a. b. C. Gross Pay through August 31 $ 6,400 2,000 131,400 Gross Pay for September $ 800 2,100 8,000 Compute BMX's amounts for each of these four taxes as applied to the employee's gross earnings for September under each of three separate situations (a), (b), and (c). Note: Round your answers to 2 decimal places. Answer is complete but not entirely correct. Так September Earnings Subject to Tax Tax Rate Tax Amount FICA-Social Security S 800.00 6.20% S 49.60 FICA-Medicare 800.00 1.45% 11.60 FUTA 600.00 0.60% 3.60 SUTA 600.00 5.40% 32.40 b)
Find the total in the account with the following facts: Monthly contributions = $180 Employer matching = 25% Interest rate = 4.99% Years invested = 38
BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137.700 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay For BMX, Its FUTA taxes are 06% and SUTA taxes are 5.4% of the first $7,000 paid to its employee Gress Pay through August 11 $5,200 2,200 Grill Pay For September $1,00 2,300 9,700 Exercise 9-8 (Algo) Payroll-related journal entries LO P2 Assuming situation (a, prepare the employer's September 30 journal entry to record salary expense and its related payroll liabilities fo this employee. The employee's federal income taxes withheld by the employer are $80 for this pay period Complete this question by anturing your answers in the tabs below. Taxes to be Withheld from Gray The employee's federal income taxes withheld by the employer are $80 for this pay period. Assuming situation (a), compute the taxes to be withheld from gross pay for this employee Note: Round your arasers to 2 decimal places Taxes to be Withheld From Gross Pay…
BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee. , Gross Pay through August 31 $ 6,700 2,300 131,700 Gross Pay for September $ 400 a. b. 2,400 8,300 C. Assuming situation (a), prepare the employer's September 30 journal entry to record salary expense and its related payroll liabilities for this employee. The employee's federal income taxes withheld by the employer are $90 for this pay period.
Computing Net Pay Mary Sue Guild works for a company that pays its employees 1½ times the regular rate for all hours worked in excess of 40 per week. Guild's pay rate is $13.00 per hour. Her wages are subject to deductions for federal income tax, Social Security tax, and Medicare tax. She is married and claims four withholding allowances. Guild has a ½-hour lunch break during an 8½-hour day. Her time card is shown. Name Mary Sue Guild Week Ending March 30, 20-- Hours Worked Day In Out In Out Regular Overtime M 7:57 12:05 12:35 4:33 8 T 7:52 12:09 12:39 5:05 8 ½ W 7:59 12:15 12:45 5:30 8 1 T 8:00 12:01 12:30 6:31 8 2 F 7:56 12:05 12:34 4:30 8 S 8:00 10:31 2½ Complete the following for the week: a. fill in the blank 1 regular hours × $13.00 per hour $fill in the blank 2 b. fill in the blank 3 overtime hours × $19.50 per hour $fill in the blank 4 c. Total gross wages $fill in the blank 5 d. Federal income tax…
BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee. a. b. C. Gross Pay through August 31 $5,200 2,700 132,100 Exercise 9-8 (Algo) Payroll-related journal entries LO P2 Assuming situation (a), prepare the employer's September 30 journal entry to record salary expense and its related payroll liabilities fo this employee. The employee's federal income taxes withheld by the employer are $90 for this pay period. Complete this question by entering your answers in the tabs below. Taxes to be Withheld From Gross Pay Gross Pay for September $ 2,400 2,800 8,700 General Journal The employee's federal income taxes withheld by the employer are $90 for this pay period. Assuming situation (a), compute the taxes to be withheld from gross pay for this employee. (Round your answers to 2 decimal…
1. Chris Coupe is a receptionist for a doctors office. She has family medical coverage through a group medical plan. The annual cost of Chris' family coverage is $10,600. The company pays 85% of the cost. How much does she have deducted from her monthly paycheck for medical insurance? % the employee pays Insurance Cost to Employees Deduction per pay period
Your friend shows you a summary of her compensation for the year as follows: Basic salary Overtime and Holiday Pay 13th month pay and other bonuses P985,000 60,000 190,000 P1,235,000 Total: Less: Deductions for- SSS, Philhealth, Pag-ibig Union dues Advances from employer Absences and tardiness Net Pay 75,000 6,000 40,000 25,000 P1,089,000 She wants to know, how much is the total exclusions from her gross income? a. P75,000 b. P81,000 c. P106,000 d. P171,000
Park Mischner owns Old Times Buttons, which employs 20 people. Park wants to perform a benefits analysis report for one of the employees. Arnold Bower, for the year. Arnold's benefits package is as follows: Annual salary: $35,650 401(k) contribution: 6 percent of annual salary. The company match is 75 percent of employee contribution up to 4 percent employe annual salary Medical insurance deduction: $230 per month Dental insurance: $15 per month Required: Complete the following Benefits Analysis Report for Arnold Bower for the year. Do not include FUTA and SUTA taxes. (Enter all amounts as positive values. Round your answers to 2 decimal places.) Yearly Benefit Costs Medical insurance Dental insurance Life insurance AD&D Short-term disability Long-term disability 401(k) Social Security Medicare Tuition reimbursement Total yearly benefit costs Amold's annual salary Total value of Amold's compensation Company Cost Arnold's Cost 7,200.00 1,000.00 $ $ $ $ S S S 50.00 $ 500.00 $ 250.00 $…
BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee. Gross Pay through August 31 Gross Pay for September a. $ 6,000 $ 1,500 b. 2,000 2,100 c. 132,900 9,500 Complete this question by entering your answers in the tabs below. Taxes to be Withheld From Gross Pay General Journal The employee’s federal income taxes withheld by the employer are $70 for this pay period. Assuming situation (a), compute the taxes to be withheld from gross pay for this employee.Note: Round your answers to 2 decimal places. Taxes to be Withheld From Gross Pay (Employee-Paid Taxes) September Earnings Subject to Tax Tax Rate Tax Amount Federal income tax $70.00 Prepare the employer's September 30…
Tania's weekly salary is $675.37, pension plan costs her $23.61 and income tax is 15.85% of her pre-pension plan salary. What is her net pay per week (round to the nearest cents)? O a. $544.71 O b. $635.91 O c. $103.30 O d. $548.46 Previous page e Type here to search ASUS
National Storage employs 88 workers with a gross monthly payroll of $137,000. Fringe benefits are 8.4% of payroll for a profit sharing plan and $9.23 per employee for life insurance. What percent of payroll is the total cost of fringe benefits? Round your answer to the nearest tenth of a percent. ______%

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