The following salaried employees of Mountain Stone Brewery in Fort Collins, Colorado, are paid semimonthly. Some employees hav union dues or garnishments deducted from their pay. You do not need to complete the number of hours. Required: Calculate their net pay using the percentage method for manual payroll systems with Forms W-4 from 2020 or later in Appendix C to determine federal income tax. Assume box 2 is not checked for any employee. Include Colorado income tax of 4.55 percent of taxal pay. No employee has exceeded the maximum FICA limit. Note: Round your intermediate calculations and final answers to 2 decimal places. Employee S. Bergstrom C. Pare L. Van der Hooven S. Lightfoot Filing Status, Dependents MJ-0 MJ-2 (<17) S-1 (Other) MJ-0 Answer is complete but not entirely correct. Union Dues per Period Garnishment per Period $ Pay $ 1,810 $ 3,720 $ $ 3,445 S Is 3.070 120 240 $ HOT 50 75 S 100 nuss $ Net Pay 1,489.02 2,906.45 x 2,575.44 x 2 425 42 *
The following salaried employees of Mountain Stone Brewery in Fort Collins, Colorado, are paid semimonthly. Some employees hav union dues or garnishments deducted from their pay. You do not need to complete the number of hours. Required: Calculate their net pay using the percentage method for manual payroll systems with Forms W-4 from 2020 or later in Appendix C to determine federal income tax. Assume box 2 is not checked for any employee. Include Colorado income tax of 4.55 percent of taxal pay. No employee has exceeded the maximum FICA limit. Note: Round your intermediate calculations and final answers to 2 decimal places. Employee S. Bergstrom C. Pare L. Van der Hooven S. Lightfoot Filing Status, Dependents MJ-0 MJ-2 (<17) S-1 (Other) MJ-0 Answer is complete but not entirely correct. Union Dues per Period Garnishment per Period $ Pay $ 1,810 $ 3,720 $ $ 3,445 S Is 3.070 120 240 $ HOT 50 75 S 100 nuss $ Net Pay 1,489.02 2,906.45 x 2,575.44 x 2 425 42 *
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The following salaried employees of Mountain Stone Brewery in Fort Collins, Colorado, are paid semimonthly. Some employees have
union dues or garnishments deducted from their pay. You do not need to complete the number of hours.
Required:
Calculate their net pay using the percentage method for manual payroll systems with Forms W-4 from 2020 or later in Appendix C to
determine federal income tax. Assume box 2 is not checked for any employee. Include Colorado income tax of 4.55 percent of taxable
pay. No employee has exceeded the maximum FICA limit.
Note: Round your intermediate calculations and final answers to 2 decimal places.
Employee
S. Bergstrom
C. Pare
L. Van der Hooven
S. Lightfoot
Filing Status,
Dependents
MJ-0
MJ-2 (<17)
S-1 (Other)
MJ-0
Answer is complete but not entirely correct.
Union
Dues
per Period
Garnishment
per Period
Pay
$ 1,810
$ 3,720
$ 3,445
3,070
$ 120
S 240
55
50
75
100
5555
$
Net Pay
1,489.02
2,906.45
2,575.44
2,425.43
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