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. Employee Year-to-Date Earnings Current Month Social Security Medicare Graham, C. $14,600 $1,940 $  $

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

A: Formula: Net Amount = Gross Amount - All deductions.

Q: Dr. Josef Young earns an adjusted gross weekly income of ​$2,584. How much Social Security tax…

A: The social security tax withheld is the weekly income multiplied by the social security tax rate.…

Q: The chief executive officer earns $10,020 per month. As of May 31, her gross pay was $50,100. The…

A: please like the answer your response matters Answer: Gross Annual income = $ 10,020  x 12 = $…

Q: Pat Maninen earns a gross salary of $4,100 each week Assume a rate of 62% on S18.500 for Social…

A: The amount of the workers' earnings and wages are subject to social security taxes is capped each…

Q: An employee earned $61,700 during the year working for an employer. The FICA tax rate for Social…

A: The employee has earned $ 61700 during the year

Q: Clara Tate an employee of Harrow's Accounting Firm, worked 44 hours during the week of June 8…

A: Part 1 Regular pay =regular hours worked x hourly rate of pay = 40 * 15 = $600 Part 2 Overtime pay =…

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: Sarah takes a full-time position that pays a salary of $80,000 per year with paid vacation/sick…

A: GAI = Gross Annual Income GMI = Gross Monthly Income ATM = After tax money

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 is determined by calculating the percentage set by the government to its gross…

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

A: For the fourth quarter, Number of semi months = 6 Total earnings = $5100×6=$30600   Social security…

Q: Mike Smith is a college football coach making a base salary of $720,000 a year ($60,000 per month).…

A: Amount withheld for Social Security=Social Security base amount×Social Security tax rate Amount…

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

A: Formula: Excess hours = Total hours - Normal hours

Q: Lana Powell has cumulative earnings of $116,000 at the end of September. In the first week in…

A: The correct answer for the above mentioned question is given in the following steps for your…

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: In addition to gross pay, the company must pay 60% of the $50 per employee weekly health insurance;…

A: Since you have posted a question with multiple sub-parts, we will solve first three sub- parts for…

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

A:

Q: Find the net pay for each of the following employees after FICA, Medicare, federal withholding tax,…

A: Facts: Carla Lorenz   Weekly Earnings  is $1468.25 Credit union savings is $18 Charitable…

Q: An employee earns $25 per hour and 2 times that rate for all hours in excess of 40 hours per week.…

A: Payroll accounting involves records of calculation, recording and analysis of employees compensation…

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: state disability insurance, and other deductions have been taken out. Assume that none has earned…

A: Net pay = Gross pay - Total deduction.

Q: Employee DD earned $43,300 working for an employer in the current year. The current rate for Social…

A: Please see the next step for the solution

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: 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: social security tax= $12950 x0.062=$802.9

Q: An employee receives an hourly rate of $25.00, with time and a half for all hours worked in excess…

A: Given the following information: An employee receives an hourly rate of $25.00 with time and a half…

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: Sue earned $56,000 working for an employer in the current year. The current rate for Social Security…

A: Note: FICA taxes include the social security tax and the Medicare tax. Social Security tax = Gross…

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: An employee earns $40 per hour and 1.5 times that rate for all hours in excess of 40 hours per week.…

A: Gross pay is the payment made to the employees without any tax and net pay is the payment made to…

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

A: Gross earnings = (40 hours x $25 per hour) + (Hours in excess of 40 hours x $25 per hour x 1.5) =(40…

Q: In this chapter, we learned that FICA mandates that employers deduct taxes from employees' pay each…

A: Since the year for the calculation of taxes is not given it is taken as Year 2022.

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

A: Lets understand the basics. Net amount paid is a gross pay less taxes paid. Gross pay = (Norma hour…

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: Anderson Brown worked 39 hours during the first week of the calendar year and earns regular wages of…

A:

Q: An employee earned $44,600 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…