Solve the problem using 6.2%, up to $128,400 for Social Security tax and using 1.45%, no wage limit, for Medicare tax. Calculate the monthly Social Security and Medicare withholdings (in $) for the employee as the payroll manager for a cargo and freight company. (Round your answers to the nearest cent.) Employee                              Andretti, K Year-to-Date Earnings          $148,000 Current Month                      $12,950 Social Security Medicare

Q: An employee earns $25 per hour and 1.50 times that rate for all hours in excess of 40 hours per…

A: Social security tax: A tax charged for the purpose of funding the social security programs is known…

Q: Westway Company pays Suzie Chan $3,000 per week. Assume Social Security is 6.2% on $128,400 and…

A: Deductions: When the taxpayer is given some exemption from tax by the government or the concerned…

Q: Solve the following problem using 6.2%, up to $117,000, for social security tax and 1.45%, no wage…

A: Social security tax The tax imposed on employers and employees of all the organizations or a company…

Q: Sadie White receives an hourly rate of $30, with time and a half for all hours worked in excess of…

A: Lets understand the basics. Net amount paid is a gross salary less deductions made.  Gross salary is…

Q: Sadie White receives an hourly rate of $30, with time and a half for all hours worked in excess of…

A: Given: Hourly rate = $30 Federal income tax = $48 Social security tax = 6% Medicare = 1.5% For over…

Q: Sadie White receives an hourly rate of $30, with time and a half for all hours worked in excess of…

A: Formula used : Number of Excess hours worked = Total hours worked - Weekly working hours

Q: Gary Marks is paid on a monthly basis. For the month of January of the current year, he earned a…

A: Payroll Taxes = FICA SS Tax + FICA Medicare Tax + FUTA Tax + SUTA Tax= 544.87+ 127.42 + 42 +…

Q: Richard Gaziano is a manager for Health Care, Inc. Health Care deducts Social Security, Medicare,…

A: Solution- social security tax=$1000*0.62=62$ medicare tax=$1450*.0145=21.025$. calculating from his…

Q: Highridge Homes has the following payroll information for the week ended February 21: Name Earnings…

A: Payroll It is important for the business entity to prepare the payroll process which are important…

Q: An employee earned $37,000 during the year working for an employer when the maximum limit for Social…

A: Formula to calculate  employee's annual FICA taxes amount:Employee's annual FICA taxes = Employee…

Q: Sadie White receives an hourly rate of $30, with time and a half for all hours worked in excess of…

A: Payroll- Payroll refers to the process of making payments to a company's employees. This process…

Q: Richard Gaziano is a manager for Health Care, Inc. Health Care deducts Social Security, Medicare,…

A: Solution Working- Social security tax = 1000*6.2% = 62 Medicare tax = 1000 * 1.45% = 21.025…

Q: Peter works for Company G and gets paid monthly. He made $8,500 throughout the month of January.…

A: Compensation is a monetary or non-monetary payment paid in exchange for services provided. Base…

Q: cial security is 6.2% of the first $128,400 of employee earnings each calendar year and the FICA tax…

A: Higher income earners are taxed at a higher rate under the federal income tax, which is based on a…

Q: Martin Jackson receives an hourly wage rate of $17, with time and a half for all hours worked in…

A: Compute gross pay of Martin Jackson as shown below:

Q: Trey Morgan is an employee who is paid monthly. For the month of January of the current year, he…

A: Formula: Net pay = Gross pay - Total deductions

Q: The Federal Insurance Contributions Act (FICA) requires employers to deduct 6.2% for Social Security…

A: given, gross pay =$721.15 annual income = $25240.25 social security tax = 6.2% × gross pay medicare…

Q: For all payroll calculations, use the following tax rates and round amounts to the nearest cent.…

A: Payroll taxes are taxes that are paid by employer and employee on the amount of salaries paid to…

Q: Solve the problem using 6.2%, up to $128,400 for Social Security tax and using 1.45%, no wage limit,…

A: Medicare Tax It is  a tax on wages. U.S. employers  withhold medicare tax  from employees' paychecks…

Q: For all payroll calculations, use the following tax rates and round amounts to the nearest cent…

A: 1. Calculate Person L's net pay:

Q: Sadie White receives an hourly rate of $35, with time and a half for all hours worked in excess of…

A: Total wages = (40 hours x hourly rate) + (hours in excess of 40 hours x hourly rate x 1.5) =…

Q: Pat Maninen earns a gross salary of $4,000 each week. Assume a rate of 6.2% on $128,400 for Social…

A: Given that: Gross Salary = $4000

Q: Solve the problem using 6.2%, up to $128,400 for Social Security tax and using 1.45%, no wage limit,…

A: Calculate social security taxSocial security = Current month earnings * social security tax…

Q: Social

A: Value of social security & medicare tax can be calculated by multiplying the tax rate with the…

Q: Westway Company pays Suzie Chan $3,060 per week. Assume Social Security is 6.2% on $128,400 and…

A: 1. Social Security Deduction = Payment per week ($3,060) x No of weeks in a year (52) x 6.2% =…

Q: Sadie White receives an hourly rate of $30, with time and a half for all hours worked in excess of…

A: Introduction: Excess hours worked: In general the number of hours to be worked in a week is 40 hours…

Q: tion. For this edition, the 2020 federal income tax tables for Manual Systems with Forms W-4 from…

A: Gross earnings is the income earned by an employee during the pay period which includes regular…

Q: Portia Grant is an employee who is paid monthly. For the month of January of the current year, she…

A: Net pay is the amount of compensation that remains available for distribution to an employee after…

Q: For all payroll calculations, use the following tax rates and round amounts to the nearest cent…

A: 1.Prepare journal entry to record sales.

Q: For all payroll calculations, use the following tax rates and round amounts to the nearest cent:…

A: 1) Computation of gross pay for working of 58 hours during the first week of February :- Gross pay =…

Q: Calculate Social Security taxes, Medicare Taxes, and FIT for Jordon Barrett. He earns a monthly…

A: Payroll refers to the payment to be made by the employer to the employees for the services rendered…

Q: Westway Company pays Suzie Chan $3,150 per week. Assume Social Security is 6.2% on $128,400 and…

A: Given that: Per week pay = $3150 Social security tax rate = 6.2% Medicare tax rate = 1.45%

Q: Solve the problem using 6.2%, up to $128,400 for Social Security tax and using 1.45%, no wage limit,…

A: Tax is the part of income which a business is liable to pay the government.

Q: You interviewed for a job that pays $68,500 annually. You pay 6% to Social Security, 1.7% to…

A: Formula: Salary after taxes = Gross salary - taxes

Q: Using the information above, what amount is the check, netof all deductions, that Gabe received for…

A: Solution:- Given, During the first week of February, Gabe Hopen earned $300. The FICA taxes are…

Q: first week’s deductions for Social Security and Medicare? Will any of Pat’s wages be exempt from

A: A tax deduction is defined as an item that would be deducted from the taxable income so that the…

Q: Solve the problem using 6.2%, up to $128,400 for Social Security tax and using 1.45%, no wage limit,…

A: It is given that  Social Security tax will be =6.2%, up to $128,400  Medicare tax = 1.45% with no…

Q: Thomas Martin receives an hourly wage rate of $25, with time-and-a-half pay for all hours worked in…

A: Gross pay for martin = Regular earning + Overtime earnings

Q: An employee earns $5,500 per month working for an employer. The FICA tax rate for Social Security is…

A: Calculation of Net pay for the month of January is as follows:

Q: her pay. Whiteweiler contributes $50 each week to her company's 401(k) plan and has $50 put into her…

A: Given Data: Julie Whiteweiler made $930 this week. Only social security (fully taxable) and federal…

Q: Portia Grant is an employee who is paid monthly. for the month of Jan of the current year, she…

A: Net pay is the net amount  after adjusting  all taxes except  FUTA and SUTA

Q: Portia Grant is an employee who is paid monthly. For the month of January of the current year, she…

A: Answer : $6,846.92

Q: 1.A paving company has 24 employees, 15 with gross earnings of $365 per week and nine with gross…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Richard Gaziano is a manager for Health Care, Inc. Health Care deducts Social Security, Medicare,…

A: Net Pay-: Net Pay is the proportion collected by an employee. It is calculated by deducting any…

Q: Compute Austin's total social security and Medicare taxes for the fourth quarter. if she is…

A: Social security & medicare tax are payroll tax expenses which is imposed by internal revenue…

Q: Assume a tax rate of 6.2% on $128,400 for Social Security and 1.45% for Medicare. No one will reach…

A: To calculate the Deductions and Net pay. Net Pay = Gross Pay - Medicare - Social Security - FIT.

Q: A paving company has 24 employees, 15 with gross earnings of $365 per week and nine with gross…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Portia Grant is an employee who is paid monthly. For the month of January of the current year, she…

A: Lenders and landlords evaluate an individual's gross income to decide if that person is a worthy…

Q: Thomas Martin receives an hourly wage rate of $21, with time-and-a-half pay for all hours worked in…

A: Gross pay = Regular pay + Overtime pay