Morgan is an employee of Redwind Company. He earned $12,350 for the current month. Prior to the current payroll period, his year-to-date wages amounted to $131,200. Assume that the following tax rates are currently in effect. FICA Tax DASDI Medicare Federal Income Tax Withholding Rate Net par (take-home pay) 6.2% 1.45% 25% Celing $128,400 No celing Required: Compute Morgan's take-home pay (net pay) for the month. Note: Round your answer to the nearest cent $0

Kip Bowman is owner and sole employee of KB Corporation. He pays himself a salary of $1,500 each week. Additional tax information includes:     FICA tax—OASDI 6.2% on first $132,900   FICA tax—HI 1.45% on total pay   Federal income tax $232.00 per pay   State income tax 22% of the federal income tax withholding   Federal unemployment tax 0.6% on first $7,000   State unemployment tax 0.05% on first $14,000 Additional payroll deductions include:     401(k) plan 3% per pay   Child support garnishment $100 per pay   Health insurance premium $95 per pay

Lemur Corp. is going to pay three employees a year-end bonus. The amount of the year-end bonus and the amount of federal income tax withholding are as follows. Federal Gross Income Employee Filing Status Allowances Income Withholding Sarah $10,000 $962 $1,362 Joe $8,000 $7,000 Kevin $357 Lemur's payroll deductions include FICA Social Security at 6.2%, FICA Medicare at 1.45%, FUTA at 0.6%, SUTA at 5.4%, federal income tax as previously shown, state income tax at 5% of gross pay, and 401(k) employee contributions at 2% of gross pay. Record the entry for the employee payroll on December 31. If required, round your answers to the nearest whole dollar. If an amount box does not require an entry, leave it blank. Dec. 31 Married Single Single 4 1

A married employee who earns $17/hour, works 38 hours during a recent week, is paid weekly, and claims 6 federal withholding allowances has $_____ in federal income tax withholding under the wage-bracket method.

Portia Grant is an employee who is paid monthly. For the month of January of the current year, she earned a total of 9,038. The FICA tax for social security is 6.2% of the first $132,900 of employee earnings each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The FUTA tax rate of 0.6% and the SUTA tax rate of 5.4% are applied to the first $7,000 of an employee's pay. The amount of federal income tax withheld from her earnings was $1,499.67. Her net pay for the month is: (Round your intermediate calculations to two decimal places.)

Assume that the MUST Co. pays a weekly payroll. Using the portion of the Wage Bracket Withholding Table given, what would be the amount of federal income tax to withhold for this pay period for a single employee whose gross earning is $2,250 and who counted 2 withholding allowance? Table for Percentage Method of Withholding WEEKLY Payroll Period SINGLE person(including head of household)-- Assume the deduction for each withholding allowance is $75. If the amount of wages (after subtracting withholding allowances) is: The amount of income tax to withhold is $0 Not over $43. . . ver--- But not over-- of excess over-- $43 --$222 | $ 0.00 plus 10% ---$43 $222 ---$767 $17.90 plus 15% --$222 $767 --$1,796| $99.65 plus 25% ---$767 $1,796 --$3,700 $356.90 plus 28% ---$1,796 $3,700 ---87,992 | $890.12 plus 33% --S3,700 $7,992 ---$8,025 | $2,306.38 plus 35% ---$7,992 $8,025 $2,317.93 plus 39.6% ---$8,025 $356.90 $442.02 $484.02 $630.00

Dee is paid $2,345 on November 8, 20--. Dee had cumulative gross earnings, including overtime pay, of $131,600 prior to this pay. Round your answers to the nearest cent. a.  The amount of OASDI taxes to withhold from Dee's pay is $ b.  The amount of HI taxes to withhold from Dee's pay is $

Sky Company employed Tom Mills in Year 1. Tom earned $5,300 per month and worked the entire year. Assume the Social Security tax rate is 6 percent for the first $110,000 of earnings, and the Medicare tax rate is 1.5 percent. Tom's federal income tax withholding amount is $940 per month. Use 5.4 percent for the state unemployment tax rate and 0.6 percent for the federal unemployment tax rate on the first $7,000 of earnings per employee. Required a. Answer the following questions. (1) What is Tom's net pay per month? (2) What amount does Tom pay monthly in FICA payroll taxes? (3) What is the total payroll tax expense for Sky Company for January Year 1? February Year 1? March Year 1? December Year 1? b. Assume that instead of $5,300 per month Tom earned $9,700 per month. Answer the following questions. (1) What is Tom's net pay per month? (2) What amount does Tom pay monthly in FICA payroll taxes? (3) What is the total payroll tax expense for Sky Company for January Year 1? February Year…

Q) Find the federal withholding tax using the wage bracket method for each of the following employees. Kerry Cook: 1 withholding allowance, single, $2165.17 monthly earnings     Mary Jackson: 2 withholding allowances, married, $639.80 weekly earnings     Julie Pendleton: 0 withholding allowances, single, $1843.19 monthly earnings     L. Sanchez: 3 withholding allowances, married, $521.10 weekly earnings     B. Maynard: 4 withholding allowance, married, $2484.97 monthly earnings

3. Jordan Peters (single; 3 federal withholding allowances) earned monthly gross pay of $2,300. He contributes $150 to a flexible spending account during the period. Using wage-bracket method: Federal income tax withholding=$ Using percentage method: Federal income tax withholding=$