The San Bernardino County Fair hires about 105 people during fair time. California has a state income tax of 9%. Sandy Denny earns $13.35 per hour; George Barney earns $14.35 per hour. They both worked 42 hours this week. Both are married; however, Sandy files jointly and George files separately. Assume a rate of 6.2% on $142,800 for Social Security and 1.45% for Medicare. 1), Social Security tax, state income tax, and Medicare have been taken out? a. What is Sandy's net pay after FIT Note: Round your answer to the nearest cent. Sandy's net pay after FIT b. What is George's net pay after FIT (ase the Table Note: Round your answer to the nearest cent. George's net pay after FIT Social Security tax, state income tax, and Medicare have been taken out?

The San Bernardino County Fair hires about 105 people during fair time. California has a state income tax of 9%. Sandy Denny earns $13.35 per hour; George Barney earns $14.35 per hour. They both worked 42 hours this week. Both are married; however, Sandy files jointly and George files separately. Assume a rate of 6.2% on $142,800 for Social Security and 1.45% for Medicare. 1), Social Security tax, state income tax, and Medicare have been taken out? a. What is Sandy's net pay after FIT Note: Round your answer to the nearest cent. Sandy's net pay after FIT b. What is George's net pay after FIT (ase the Table Note: Round your answer to the nearest cent. George's net pay after FIT Social Security tax, state income tax, and Medicare have been taken out?

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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The San Bernardino County Fair hires about 150 people during fair time. California has a state income tax of 9%. Sandy Denny earns $13.00 per hour; George Barney earns $14.00 per hour. They both worked 39 hours this week. Both are married; however, Sandy files jointly and George files separately. Assume a rate of 6.2% on $142,800 for Social Security and 1.45% for Medicare. a. What is Sandy's net pay after FIT (use the Table 9.1), Social Security tax, state income tax, and Medicare have been taken out? Note: Round your answer to the nearest cent. Sandy's net pay after FIT b. What is George's net pay after FIT (use the Table 9.1), Social Security tax, state income tax, and Medicare have been taken out? Note: Round your answer to the nearest cent. George's net pay after FIT c. What is the difference between Sandy's net pay and George's net pay? Note: Round your answer to the nearest cent. Difference in net pay
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