The chief executive officer earns $10,120 per month. As of May 31, her gross pay was $50,600. The tax rate for Social Security is 6.2% of the first $128,400 earned each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee’s pay. What is the amount of FICA-Social Security withheld from this employee for the month of June?

Q: An appliance company has three installers. Larry earns $395 per week, Curly earns $440 per week, and…

A: (a) calculate SUTA and FUTA tax (in $) does the company owe for the first quarter of the year and…

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…

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A: The employee has earned $ 61700 during the year

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: Universal Exporting has three warehouse employees: John Abner earns $422 per week, Anne Clark earns…

A: SUTA and FUTA are the payroll tax paid by the employers in the state and federal funds made for the…

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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: An appliance company has three installers. Larry earns $345 per week, Curly earns $480 per week, and…

A: FUTA: FUTA means the "Federal Unemployment Tax Act" which provides for the levy of tax on the wages…

Q: Simon Cowell's weekly gross earnings for the week ending Dec. 7th were $2,500, and his federal…

A: Formula: Social security tax amount = Gross earnings x social security tax rate. Medicare tax amount…

Q: . This is the first payroll of the year and the employee has no cumulative earnings for the year to…

A: Calculation of Gross earnings :   Normal earnings $1,800.00 Bonus earnings $540.00 Gross earnings…

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A: Given that, Larry earns $325 per week Curly earns $470 per week  Moe earns $575 per week The…

Q: An employee has year-to- date earnings of $41,050. The employee's gross pay for the next pay period…

A: Federal Insurance Contributions Act tax:   It is a federal payroll contribution that is directed for…

Q: Mr. Wade was just promoted to Dean and will earn a yearly salary of $271,828.08 evenly distributed…

A: Monthly Salary = Yearly Salary12 months Social Security Taxes = Monthly Salary x 6.2% (Employee's…

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 salary - Social security tax - FICA tax - Tax withheld

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: Thomas Martin receives an hourly wage rate of $20, with time-and-a-half pay for all hours worked in…

A: Normal hours in a week = 40 hours Hours worked = 42 hours Overtime hours = Total hours worked -…

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A: Net pay = January Earnings - Federal Income tax withholdings - Social security tax - Medicare tax…

Q: Todd Hackworth’s weekly gross earnings for the week ending December 18 were $2,000, and his federal…

A: Net pay = Gross pay - Federal income tax withheld - Social security tax withheld - Medicare tax…

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

A: Payroll: Payroll refers to the total amount that is required to be paid by the company to its…

Q: An employee receives an hourly wage rate of $18, with time and a half for all hours worked in excess…

A: The net amount payable to the employee is the amount paid net of taxes. It is calculated as follows:…

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

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

A: Since we only answer up to 3 sub parts, we'll answer the first 3. Please resubmit the question and…

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

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

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

A: The answer is stated below:

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: An employee receives an hourly wage rate of $25, with time and a half for all hours worked in excess…

A: Given that , Hourly wage rate = 25 per hr  hours to be worked = 40 hrs Actual hours worked = 42 hrs…

Q: During the first week of February, Gabe Hopen earned $300.  Assume that FICA taxes are 7.65 percent…

A: FICA Taxes payable= $300 x 7.65% = $22.95 State unemployment taxes payable= $300 x 5% = $15.00…

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A: Gross pay: Gross pay means the salary before the deduction of any taxes, benefits, and other payroll…

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

Q: Baker Green's weekly gross earnings for the week ending December 7 were $1,200, and her federal…

A: Social Security amount = Gross earnings ×social Security rate = $1200× 6% = $72

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

Q: Baker Green's weekly gross earnings for the week ending December 7 were $1,800, and her federal…

A: Computation of Social Security amount is as follows: =$1800×6.0%=$108 Computation of Medicare amount…

Q: An employee earned $62,500 during the year working for an employer. The FICA tax rate for Social…

A: Step 1 The unemployment taxes (FUTA) of $42 is obtained by multiplying the earnings of $7,000 with…

Q: Baker Green's weekly gross earnings for the week ending December 7 were $2,000, and her federal…

A: Net Pay = Gross earnings - Federal income tax - Social Security rate - Medicare   Social Security…

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

A: Given that, total earnings = $4540 FICA tax for social security = 6.2% FICA tax rate for medicare =…

Q: Carmen Flores’ weekly gross earnings for the week ending Dec. 7th were $3,000, and her federal…

A: Social tax security is a compulsory contribution of employer and employee. It funds the retirement,…

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

A: Here in this question, we are required to calculate the net pay amount. For calculating net pay, we…

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: Rick O’Shea, the only employee of Hunter Furniture Company, makes $30,000 per year and is paid once…

A: Employee is liable for some payroll taxes. Hence while paying the wages, employer deducts the…

Q: Thomas Martin receives an hourly wage rate of $24, with time-and-a-half pay for all hours worked in…

A: Financial Management: Financial management comprises of two words i.e. Finance and management.…

Q: An employee has year-to-date earnings of $115,400. The employee’s gross pay for the next pay period…

A:

Q: An employee earns $5,750 per month working for an employer. The FICA tax rate for Social Security is…

A: Wages: Wages are the earnings of the employees for their work to the company they serve. These are…

Q: An employee is paid a salary of $10,150 per month.  If the FICA rate is 6.2% on the first $118,500…

A: FICA tax = Salary x FICA tax rate = $10,150 x 6.2% = $629.30 Medicare tax payable = Gross payroll x…

Q: ral income tax withholding was $144. Assuming the social

A: Given :  Baker's Green weekly gross earning =1200 income tax withholding = 144 social security 6%…

Q: Martin Jackson receives an hourly wage rate of $15, with time and a half for all hours worked in…

A: Gross pay = Regular pay + Overtime pay   Net pay = Gross pay - Federal income taxes withheld -…