iam Wallace is general manager of Worldwide Salons. During 2018Wallace worked for the company all 18, 1 year at a $ 12,900 monthly salary. He also earned a year-end bonus equal to 15% of his annual salary Wallace's federal income tax withheld during 2018 was $1,161 per month, plus $2,322 on his bonus check. State income tax withheld came to $170 per month , plus $110 on the bonus . FICA tax was withheld on the annual earnings . Wallace authorized the following payroll deductions : Charity Fund contribution of 4% of total earnings and life insurance of $35 per month . Requirement 1. Compute Wallace's gross pay , payroll deductions , and net pay for the full year 2018. Round all amounts to the nearest dollar. Begin by computing Wallace's gross pay for the year. (Round all amounts to the nearest dollar.)
Liam Wallace is general manager of Worldwide Salons. During 2018Wallace worked for the company all 18, 1 year at a $ 12,900 monthly salary. He also earned a year-end bonus equal to 15% of his annual salary Wallace's federal income tax withheld during 2018 was $1,161 per month, plus $2,322 on his bonus check. State income tax withheld came to $170 per month , plus $110 on the bonus . FICA tax was withheld on the annual earnings . Wallace authorized the following payroll deductions : Charity Fund contribution of 4% of total earnings and life insurance of $35 per month .
Requirement 1. Compute Wallace's gross pay , payroll deductions , and net pay for the full year 2018. Round all amounts to the nearest dollar. Begin by computing Wallace's gross pay for the year. (Round all amounts to the nearest dollar.)
Payroll deductions: These are the amounts withheld by the employer from the salary of the employees on account of federal income tax, state income tax, medical insurance premium, contribution to charity, etc.
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