9. Rita's monthly deduction is 10% of her monthly gross income. If she receives a monthly gross income of P37,000, what is her take-home pay? C. B40,700 A. P3,700 B. P33,300 D. P43,300
Q: 3. Jane receives a basic pay of P9,880.00 a month and a 2% commission on her sales. She sold…
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A: A mortgage is a type of loan that is taken for the purchase of a home or any other real estate…
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A: Social benefits are the benefits which are given by the government to the persons of the country.…
Q: Page 4 of 4 12. Mr. Bean receives a monthly basic salary of P38,000. He also receives P2,0O00…
A: Total Compensation = 38000 +2000 +2000 +500 = php 42,500 A)…
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A: Marilyn earns = $1400.00 per bi weekly Total earnings per year = Bi weekly income x total weeks/2…
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A: Gross pay= 40 hours * $ 21.25 = $ 850
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A: Martin pay including his deductible=$4,200-$300×80100+$300=$3,420
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A: Lets understand the basics. For calculating gross pay, we need to use below formula. Gross pay =…
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A: The FUTA is the Federal Unemployment Tax Act is the tax levied by the government upon the salaries…
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A: In this question, we will find the total deduction for social security and Medicare Social security…
Q: Marilyn earns $1,400.00 bi-weekly. She has a bi-weekly taxable car allowance of $70.00 and a…
A: Marilyn earns = $1400.00 per bi weekly Total earnings per year = Bi weekly income x total weeks/2…
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A: Assuming Anna is resident citizen of Phillipines :- As per…
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A: Gross pay is pay before deductions. After deductions of taxes give net pay.
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A: Out of pocket cost means cost which are direct payment of money and subsequently no reimbursement…
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A: Total insurance premium = $8000 Employer contribution = 0.70 (70%)
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A: Annual Salary = GH¢ 250,000 Social Security Contribution= 5% =(250,000/100*5)= GH¢ 12,500
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A: Net income is calculated by deducting the deductions from the gross earnings of the individual.
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A: Given: Annual insurance premium =$2074Annual property tax =$1403Monthly principal and interest…
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A: Wages means the amount paid to worker for producing the goods. Take home wages means the amount…
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A: Note: Since you have asked multiple questions, we will solve the first question for you. If you want…
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A: Periodic Payment = $25 Time Period = 22 Years Interest Rate = 434%
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A: Hourly recovery tariff is calculated by dividing the pay for the period by the number of hours…
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Q: Federal 13% State 10% FICA 6.2% 1.45% Total deductions Medicare + %3D Net Pay
A: Determining gross pay for salaried employees is a bit different. To calculate gross pay, take total…
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A: “Since you have asked multiple question, we will solve the first question for you. If you want any…
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A:
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A: Annual insurance premium =$1958Annual property tax =$1432Total insurance and property…
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A: Income is a residual amount left after netting of net expenses incurred to earn that income. The net…
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A: Weekly contribution (C) = 50 Weekly discount rate (r) = 0.00125 (i.e. 0.065 / 52) Weekly period of…
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A: Compound interest is referred as the interest which is calculated on principal amount which involves…
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A: The calculation of property tax and monthly payments towards property tax is presented hereunder :
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- LO2 Joyce Lee earns 30,000 a year. Her employer pays a matching Social Security tax of 6.2% on the first 118,500 in earnings, a Medicare tax of 1.45% on gross earnings, and a FUTA tax of 0.6% and a SUTA tax of 5.4%, both on the first 7,000 in earnings. What is the total cost of Joyce Lee to her employer? (a) 32,295 (b) 30,000 (c) 30,420 (d) 32,715An employee earns $8,000 in the first pay period. The FICA Social Security Tax rate is 6.2%, and the FICA Medicare tax rate is 1.45%. What is the employees FICA taxes responsibility? A. $535.50 B. $612 C. None, only the employer pays FICA taxes D. $597.50 E. $550Use Figure 12.15 as a reference to answer the following questions. A. If an employee makes $1,400 per month and files as single with no withholding allowances, what would be his monthly income tax withholding? B. What would it be if an employee makes $2,500 per month and files as single with two withholding allowances?
- 13.What will be the total deduction for social security and Medicare taxes on Rony's next semimonthly paycheck of $3,760.00, if she has already earned $48,560.00 this year? (Social security tax is 6.2% of gross wages up to $128,400. Medicare tax is 1.45% of all gross wages.) $249.39 $257.04 $272.34 $287.64What will be the total deduction for social security and Medicare taxes on Rony's next semimonthly paycheck of $3,760.00, if she has already earned $46,560.00 this year? (Social security tax is 6.2% of gross wages up to $128,400. Medicare tax is 1.45% of all gross wages.) a. $249.39 b. $257.04 c. $272.34 d. $287.6416. Gus is the self-employed owner of Four Paws Pet Supply. His estimated annual earnings are $49,280.00 and he expects to pay 19% of this amount in income tax. What will be his quarterly estimated tax payment for the second quarter? (For self-employed persons, Social Security tax is 12.4% of wages up to $128,400, and Medicare tax is 2.9% of all wages.) A. $2,112.88 B. $2,340.80 C. $4,225.76 D. $9,363.20
- 12.Carolyne is paid $4,000.00 biweekly. This year, to date, she has earned $27,300.00. What will be the total deduction for Social Security and Medicare taxes on her next paycheck? (Social Security tax is 6.2% of gross wages up to $128,400. Medicare tax is 1.45% of all gross wages.) $306.00 $321.30 $336.60 $344.259. The annual insurance premium on Julie’s home is $2,074 and the annual property tax is $1,403. If her monthly principal and interest payment is $1,603, find the adjusted monthly payment including principal, interest taxes and insurance (PITI).1) Nancy has cumulative earnings of $104,500 and earns $7,800 during the current pay period.If the FICA rate is 4.2 percent for Social Security, with a limit of $106,800, and 1.45 percent forMedicare, applied to all earnings, calculate the total FICA tax to be withheld for this pay period.a. $440.70.b. $209.70.c. $113.10.d. $96.60.e. $231.00. 2) Ernie White has $6,800 cumulative earnings during the calendar year and earned $950 duringthe current pay period. If the state unemployment tax is 5.4 percent of the first $7,000, the federalunemployment tax is 0.6 percent of the first $7,000, the FICA Social Security tax is 6.2 percent ofthe first $106,800, and FICA Medicare tax is 1.45 percent on all earnings, the amounts placed inthe Taxable Earnings columns of the payroll register are: a. state unemployment, $0; federal unemployment, $0; Social Security, $850; Medicare,$850.b. state unemployment, $950; federal unemployment, $950; Social Security, $950; Medicare,$950.c. state unemployment,…
- Padma's semi-annual premium is $975.00. She has the choice of paying the full amount or paying half. If she pays half, she will be charged $489.50 each payment, which includes an administrative fee. What is the total amount of the administrative fee?Amy's gross pay for the week is $850. Her deduction for federal income tax is based on a rate of 25%. She has voluntary deductions of $255. Her year−to−date pay is under the limit for OASDI. What is her net pay? (Assume a FICA—OASDI Tax of 6.2% and FICA—Medicare Tax of 1.45%. Round all calculations to the nearest cent.)Compute Austin's total social security and Medicare taxes for the fourth quarter. if she is self-employed and earns $5,300.00 on a semimonthly basis. (For self-employed persons, Social Security tax is 12.4% of wages up to $128,400, and Medicare tax is 2.9% of all wages.) the options are: a. 437.25 b. 810.90 c. 2623.50 d. 4865.40
