Homework Help is Here – Start Your Trial Now!
Business
Accounting
Lisa Garza's regular hourly wage rate is $33, and she receives a wage of 1% times the regular hourly rate for work in excess of 40 hours. During a March weekly pay period, Lisa worked 44 hours. Her gross earnings prior to the current week were $6,000. Lisa is married and claims three withholding allowances. Her only voluntary deduction is for group hospitalization insurance at $34.00 per week. MARRIED Persons – WEEKLY Payroll Period

Lisa Garza's regular hourly wage rate is $33, and she receives a wage of 1% times the regular hourly rate for work in excess of 40 hours. During a March weekly pay period, Lisa worked 44 hours. Her gross earnings prior to the current week were $6,000. Lisa is married and claims three withholding allowances. Her only voluntary deduction is for group hospitalization insurance at $34.00 per week. MARRIED Persons – WEEKLY Payroll Period

College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter8: Payroll Accounting: Employee Earnings And Deductions
Section: Chapter Questions
Problem 2MC
See similar textbooks
icon
Related questions
Question
Lisa Garza's regular hourly wage rate is $33, and she receives a wage of 1½ times the regular hourly rate for work in excess of 40 hours. During a March weekly pay period, Lisa worked 44 hours. Her gross earnings prior to the current week were $6,000. Lisa is married and claims three withholding allowances. Her only voluntary deduction is for group hospitalization insurance at $34.00 per week, MARRIED Persons – WEEKLY Payroll Period (For Wages Paid through December 2022) If the wages And the number of withholding allowances claimed is – are - But 1 2 3 5 6 7 8 9 10 At less least than The amount of income tax to be withheld is – 1,316 1,327 | 124 | 114 105 95 85 75 66 56 46 | 37 29 1,327 1,338 | 125 116 106 96 86 77 67 57 48 38 30 1,338 1,349 127 117 107 97 88 78 68 59 49 39 31 1,349 1,360 128 118 108 99 89 79 70 60 50 41 32 1,360 1,371 | 129 119 110 100 90 81 71 61 52 42 33 1,371 1,382 130 | 121 111 101 92 82 72 63 53 43 34 1,382 1,393 132 122 112 103 93 83 74 64 54 45 35 1,393 1,404 133 123 114 104 94 85 75 65 56 46 36 1,404 1,415 134 125 115 105 96 86 76 67 57 47 38 1,415 1,426 136 126 116 | 107 97 87 78 68 58 49 39 1,426 | 1,437 137 127 118 108 98 89 79 69 60 50 40 1,437 1,448 138 129 119 109 100 90 80 71 61 51 41 1,448 1,459 140 130 120 111 101 91 82 72 62 52 | 43 1,459 1,470 | 141 131 122 | 112| 102 93 83 73 64 54 44 1,470 1,481 142 133 123| 113 104 94 84 75 65 55 45 1,481 1,492 144 134 124 | 115 105 95 86 76 66 56 47 1,492 1,503 145 135 126| 116 106 97 87 77 67 58 48 1,503 1,514 146 137 127 117 108 98 88 78 69 59 49 1,514 1,525 148 138 128 119 | 109 99 89 80 70 60 51 1,525 1,536 149 139 130 120 110| 101 91 81 71 62 52
Transcribed Image Text:Lisa Garza's regular hourly wage rate is $33, and she receives a wage of 1½ times the regular hourly rate for work in excess of 40 hours. During a March weekly pay period, Lisa worked 44 hours. Her gross earnings prior to the current week were $6,000. Lisa is married and claims three withholding allowances. Her only voluntary deduction is for group hospitalization insurance at $34.00 per week, MARRIED Persons – WEEKLY Payroll Period (For Wages Paid through December 2022) If the wages And the number of withholding allowances claimed is – are - But 1 2 3 5 6 7 8 9 10 At less least than The amount of income tax to be withheld is – 1,316 1,327 | 124 | 114 105 95 85 75 66 56 46 | 37 29 1,327 1,338 | 125 116 106 96 86 77 67 57 48 38 30 1,338 1,349 127 117 107 97 88 78 68 59 49 39 31 1,349 1,360 128 118 108 99 89 79 70 60 50 41 32 1,360 1,371 | 129 119 110 100 90 81 71 61 52 42 33 1,371 1,382 130 | 121 111 101 92 82 72 63 53 43 34 1,382 1,393 132 122 112 103 93 83 74 64 54 45 35 1,393 1,404 133 123 114 104 94 85 75 65 56 46 36 1,404 1,415 134 125 115 105 96 86 76 67 57 47 38 1,415 1,426 136 126 116 | 107 97 87 78 68 58 49 39 1,426 | 1,437 137 127 118 108 98 89 79 69 60 50 40 1,437 1,448 138 129 119 109 100 90 80 71 61 51 41 1,448 1,459 140 130 120 111 101 91 82 72 62 52 | 43 1,459 1,470 | 141 131 122 | 112| 102 93 83 73 64 54 44 1,470 1,481 142 133 123| 113 104 94 84 75 65 55 45 1,481 1,492 144 134 124 | 115 105 95 86 76 66 56 47 1,492 1,503 145 135 126| 116 106 97 87 77 67 58 48 1,503 1,514 146 137 127 117 108 98 88 78 69 59 49 1,514 1,525 148 138 128 119 | 109 99 89 80 70 60 51 1,525 1,536 149 139 130 120 110| 101 91 81 71 62 52
Compute the following amounts for Lisa's wages for the current week. (Round all answers to 2 decimal places, e.g. 52.55.) (1) Gross earnings. $ (2) FICA taxes. (Assume a 7.65% rate on maximum of $132,900.) (3) Federal income taxes withheld. $ (4) State income taxes withheld. (Assume a 2.0% rate.) $ (5) Net pay. $ %24 %24 %24 %24
Transcribed Image Text:Compute the following amounts for Lisa's wages for the current week. (Round all answers to 2 decimal places, e.g. 52.55.) (1) Gross earnings. $ (2) FICA taxes. (Assume a 7.65% rate on maximum of $132,900.) (3) Federal income taxes withheld. $ (4) State income taxes withheld. (Assume a 2.0% rate.) $ (5) Net pay. $ %24 %24 %24 %24
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 5 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Determination of Tax Liability
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
PAYROLL ACCT., 2019 ED.(LL)-TEXT
PAYROLL ACCT., 2019 ED.(LL)-TEXT
Accounting
ISBN:
9781337619783
Author:
BIEG
Publisher:
CENGAGE L
College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781305084087
Author:
Cathy J. Scott
Publisher:
Cengage Learning
SWFT Comprehensive Volume 2019
SWFT Comprehensive Volume 2019
Accounting
ISBN:
9780357233306
Author:
Maloney
Publisher:
Cengage
College Accounting, Chapters 1-27 (New in Account…
College Accounting, Chapters 1-27 (New in Account…
Accounting
ISBN:
9781305666160
Author:
James A. Heintz, Robert W. Parry
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS