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- Lisa Ramos has a regular hourly rate of $12.75. In a week when she worked 40 hours and had deductions of $67.00 for federal income tax, $31.62 for social security tax, and $7.40 for Medicare tax, her net pay was Multiple Choice $616.02. $510.00. $403.98. $106.02.An employee earns $5,500 per month working for an employer. The FICA tax rate for Social Security is 6.2% of the first $128,400 earned each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. The employee has $182 in federal income taxes withheld. The employee has voluntary deductions for health insurance of $150 and contributes $75 to a retirement plan each month. What is the amount of net pay for the employee for the month of January? (Round your intermediate calculations to two decimal places.)The biweekly taxable wages for the employees of Rite-Shop follow. Compute the FICA taxes for each employee and the employer's FICA taxes. Round your answers to the nearest cent. FICA Taxes Employee OASDI HI Employee Name Biweekly Taxable Wages No. 711 Castro, Manny $4,000.00 $4 512 Corrales, Pat 984.00 624 Guitar, Joseph 1,018.00 325 Moore, Connie 1,203.40 422 Morrison, Harry 2,300.00 Robertson, 210 1,274.80 Catherine 111 Swarez, Joseph 1,322.00 Totals Employer's OASDI Total Taxable Wages Employer's OASDI Tax Employer's HI Tax Total Taxable Wages Employer's HI Tax
- Thomas Martin receives an hourly wage rate of $16, with time and a half for all hours worked in excess of 40 hours during a week. Payroll data for the current week are as follows: hours worked, 48; federal income tax withheld, $363; social security tax rate, 6.0%; and Medicare tax rate, 1.5%. What is the gross pay for Martin? Oa. $832 Ob. $1,536 Oc. $1,152 Od. $768John Jenkins earns $1,290 per week. The deductions from his pay were: FIT $111.00 FICA-OASDI 79.98 FICA-HI 18.71 State income tax 31.00 State disability insurance 9.03 Credit union deduction 40.00 Health insurance premium 47.50 Charitable contribution 5.00 John's disposable earnings would be: $1,290.00 - $111.00 (FIT) - $79.98 - $18.71 (FICA deductions) - $31.00 (SIT) - $9.03 (disability insurance) = $1,040.28 Example 6-3 Huffman Company has a child support order outstanding on one of its employees (Charles Suffert-$170 per week). Charles Suffert's disposable income is $950 per week. A new garnishment is received for a $5,000 debt to a credit card company. The company would take an additional $237.50 out of Suffert's pay. Lesser of: 25% x $950 $237.50 or $950 - (30 x $7.25) = $732.50 Kalen O'Brien earned $730 this week. The deductions from her pay were as follows: FIT $66.00 FICA-OASDI 45.26 FICA-HI 10.59 State income tax 36.50 State disability insurance 8.61 Health insurance premium…Thomas Martin receives an hourly wage rate of $25, with time and a half for all hours worked in excess of 40 hours during a week. Payroll data for the current week are as follows: hours worked, 48; federal income tax withheld, $308; social security tax rate, 6.0%; and Medicare tax rate, 1.5%. What is the gross pay for Martin? a.$1,300 b.$1,800 c.$2,400 d.$1,200
- Study the information provided below and calculate the hourly recovery tariff per hour (expressed inrands and cents) of Martha. INFORMATIONThe basic annual salary of Martha is R576 000. She is entitled to an annual bonus of 90% of her basic monthlysalary. Her employer contributes 8% of her basic salary to her pension fund. She works for 45 hours per week (from Monday to Friday). She is entitled to 21 days paid vacation leave. There are 12 public holidays in the year (365 days), 8 of which fall on weekdays.Thomas Martin receives an hourly wage rate of $16, with time and a half for all hours worked in excess of 40 hours during a week. Payroll data for the current week are as follows: hours worked, 47; federal income tax withheld, $354; social security tax rate, 6.0%; and Medicare tax rate, 1.5%. What is the gross pay for Martin? a.$1,504 b.$808 c.$1,128 d.$752An employee earns $5,750 per month working for an employer. The FICA tax rate for Social Security is 6.2% of the first $128,400 earned each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. The employee has $192 in tederal income taxes withheld. The employee has voluntary deductions for health insurance of $160 and contributes $80 to a retirement plan each month. What is the amount of net pay for the employee for the month of January? (Round your intermediate calculations to two decimal places.) Multiple Choice $4.87812 $4,56762
- An employee earns $36 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. If the employee worked 55 hours during the week. Assume that the social security tax rate is 6.0%, the Medicare tax rate is 1.5%, and the employee’s federal income tax withheld is $518. a. Determine the gross pay for the week.$fill in the blank 1 If applicable, round your final answer to two decimal places. b. Determine the net pay for the week.An employee earned $44,600 during the year working for an employer when the maximum limit for Social Security was $128,400. The FICA tax rate for Social Security is 6.2% and the FICA tax rate for Medicare is 1.45%. The employee's annual FICA taxes amount is: Multiple Choice $3,411.90. $646.70. $6,177.10. $6,823.80. $2,765.20.An employee earned $37,000 during the year working for an employer when the maximum limit for Social Security was $128,400. The FICA tax rate for Social Security is 6.2% and the FICA tax rate for Medicare is 1.45%. The employee's annual FICA taxes amount is: