Amy's regular hourly wage rate is $22, and she receives an hourly rate of $33 for work in excess of 40 hours. During a January pay period, Amy works 46 hours. Amy's federal income tax withholding is $94, and she has no voluntary deductions.Compute Amy's gross earnings and net pay for the pay period. Assume that the FICA tax rate is 7.65%. (Round the answers to 2 decimal places, e.g. 15.25.)Gross earnings$Netpay$

Step 1: Step 2: Step 3: Step 4:

Answered: Amy's regular hourly wage rate is $22,…

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter7: Employee Earnings And Deductions

Section: Chapter Questions

Problem 1PB

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Darrell is an employee of Whitneys. During the current year, Darrells salary is 136,000. Whitneys net self-employment income is also 136,000. Calculate the Social Security and self-employment taxes paid by Darrell and Whitney. Write a letter to Whitney in which you state how much she will have to pay in Social Security and self-employment taxes and why she owes those amounts.
Lori Kinmark works as a jeweler for a local company. She earns 1,000 per week, plus a year-end bonus of 2,000. Kinmark also earns an additional net self-employment income of 28,000 per year. ____1.Compute Kinmarks annual earnings from employment. ____2.Compute Kinmarks total earnings from her job and from self-employment income. ____3.How much self-employment income should Kinmark include in computing taxable self-employment income for OASDI taxes? ____4.What are the total FICA taxes on her self-employment earnings?
Michelle Strand’s regular hourly wage rate is $34, and she receives an hourly rate of $51 for work in excess of 40 hours. During a January pay period, Michelle works 45 hours. Michelle’s federal income tax withholding is $89, and she has no voluntary deductions.Compute Michelle Strand’s gross earnings and net pay for the pay period. Assume that the FICA tax rate is 7.65%. (Round answers to 2 decimal places, e.g. 15.25.) Michelle’s gross earnings $enter a dollar amount Michelle’s net pay $enter a dollar amount
Betty Strand's regular hourly wage rate is $18, and she receives an hourly rate of $27 for work in excess of 40 hours. During a January pay period, Betty works 47 hours. Betty's federal income tax withholding is $98, and she has no voluntary deductions. Compute Betty Strand's gross earnings and net pay for the pay period. Assume that the FICA tax rate is 7.65%. (Round answers to 2 decimal places, e.g. 15.25.) Betty's gross earnings Betty's net pay $ $
Donna Strand's regular hourly wage rate is $24, and she receives an hourly rate of $36 for work in excess of 40 hours. During a January pay period, Donna works 45 hours. Donna's federal income tax withholding is $86, and she has no voluntary deductions. Compute Donna Strand's gross earnings and net pay for the pay period. Assume that the FICA tax rate is 7.65%. (Round answers to 2 decimal places, e.g. 15.25.) Donna's gross earnings Donna's net pay
Beth Corbin’s regular hourly wage rate is $20, and she receives an hourly rate of $30 for work in excess of 40 hours. During a January pay period, Beth works 50 hours. Beth’s federal income tax withholding is $94, she has no voluntary deductions, and the FICA tax rate is 7.65%.Compute Beth Corbin’s gross earnings and net pay for the pay period. (Round answers to 2 decimal places, e.g. 15.25.) Gross earnings $ Net pay $
Susan Corbin's regular hourly wage rate is $2O, and she receives an hourly rate of $30 for work in excess of 40 hours. During a January pay period, Susan works 50 hours. Susan's federal income tax withholding is $94, she has no voluntary deductions, and the FICA tax rate is 7.65%. Compute Susan Corbin's gross earnings and net pay for the pay period. (Round Intermediate calculation and final answers to 2 decimal places, e.g. 15.25.) Gross earnings Net pay $ %24 %24
Elizabeth Corbin's regular hourly wage rate is $16, and she receives an hourly rate of $24 for work in excess of 40 hours. During a January pay period, Elizabeth works 50 hours. Elizabeth's federal income tax withholding is $94, she has no voluntary deductions, and the FICA tax rate is 7.65%. Compute Elizabeth Corbin's gross earnings and net pay for the pay period. (Round Intermediate calculation and final answers to 2 decimal places, e.g. 15.25.) Gross earnings Net pay LA eTextbook and Media 760 605.86
Sheffield Corbin's regular hourly wage rate is $16, and she receives an hourly rate of $24 for work in excess of 40 hours. During a January pay period, Sheffield works 45 hours. Sheffield's federal income tax withholding is $94, she has no voluntary deductions, and the FICA tax rate is 7.65%. Compute Sheffield Corbin's gross earnings and net pay for the pay period. (Round Intermediate calculation and final answers to 2 decimal places, eg. 15.25.) Gross earnings $ Net pay
Helen Corbin's regular hourly wage rate is $16, and she receives an hourly rate of $24 for work in excess of 40 hours. During a January pay period, Helen works 50 hours. Helen's federal income tax withholding is $98, she has no voluntary deductions, and the FICA tax rate is 7.65%. Compute Helen Corbin's gross earnings and net pay for the pay period. (Round Intermediate calculation and final answers to 2 decimal places, e.g. 15.25.) Gross earnings $ Net pay $ 800 640.8
Sandra Corbin’s regular hourly wage rate is $16, and she receives an hourly rate of $24 for work in excess of 40 hours. During a January pay period, Sandra works 50 hours. Sandra’s federal income tax withholding is $96, she has no voluntary deductions, and the FICA tax rate is 7.65%.Compute Sandra Corbin’s gross earnings and net pay for the pay period. (Round Intermediate calculation and final answers to 2 decimal places, e.g. 15.25.) Gross earnings $enter a dollar amount rounded to 2 decimal places Net pay $enter a dollar amount rounded to 2 decimal places
Laura Corbin's regular hourly wage rate is $14, and she receives an hourly rate of $21 for work in excess of 40 hours. During a January pay period, Laura works 50 hours. Laura's federal income tax withholding is $96, she has no voluntary deductions, and the FICA tax rate is 7.65%. Compute Laura Corbin's gross earnings and net pay for the pay period. (Round Intermediate calculation and final answers to 2 decimal places, e.g. 15.25.) Gross earnings Net pay $

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