1: Michael Daugherty (married; 5 federal withholding allowances) earned weekly gross pay of $855. For each...

1: Michael Daugherty (married; 5 federal withholding allowances) earned weekly gross pay of $855. For each period, he makes a 403(b) retirement plan contribution of 12% of gross pay.

Using wage-bracket method: Federal income tax withholding = $
Using percentage method: Federal income tax withholding = $

2: Carol Harrison (single; 0 federal withholding allowance) earned daily gross pay of $220. For each period, she makes a 401(k) contribution of 12.5% of gross pay.

Using wage-bracket method: Federal income tax withholding = $
Using percentage method: Federal income tax withholding = $

3: John Moyer (married; 6 federal withholding allowances) earned monthly gross pay of $4,150. He participates in a flexible spending account, to which he contributes $265 during the period.

Using wage-bracket method: Federal income tax withholding = $
Using percentage method: Federal income tax withholding = $

Expert Solution

ekkarill92 answered 2 years ago

Q1a. Thomas Fortuna (married; 4 federal withholding allowances) earned weekly gross pay of $765. For each...

Q1a. Thomas Fortuna (married; 4 federal withholding allowances) earned weekly gross pay of $765. For each period, he makes a 401(k) retirement plan contribution of 11% of gross pay. Using wage-bracket method: Federal income tax withholding = $_________________ Q1b. Barbara Houlihan (single; 1 federal withholding allowance) earned daily gross pay of $310. For each period, she makes a 401(k) contribution of 11.5% of gross pay. Using wage-bracket method: Federal income tax withholding = $ ______________ Using percentage method: Federal income...

1: Phil McGlynn (Married; 3 federal withholding allowances) earned weekly gross pay of $790. Federal income...

1: Phil McGlynn (Married; 3 federal withholding allowances) earned weekly gross pay of $790. Federal income tax withholding = $ 2: Gary Williams (single; 2 federal withholding allowance) earned biweekly gross pay of $1,840. He participates in a flexible spending account, to which he contributes $50 during the period. Federal income tax withholding = $ 3: Lila Downing (single; 5 federal withholding allowances) earned monthly gross pay of $5,460. For each period, she makes a 401(k) contribution of 8% of...

BA 177- Payroll Accounting 1: Barbara Houlihan (single; 1 federal withholding allowance) earned daily gross pay...

BA 177- Payroll Accounting 1: Barbara Houlihan (single; 1 federal withholding allowance) earned daily gross pay of $320. For each period, she makes a 401(k) contribution of 12% of gross pay. Using the wage-bracket method: Federal income tax withholding = $ Using percentage method: Federal income tax withholding = $ BA 177- Payroll Accounting 2: Marcus Xavier (married; 5 federal withholding allowances) earned monthly gross pay of $3,650. He participates in a flexible spending account, to which he contributes $200...

Using the attached template, you are to compute the gross pay, federal withholding, Social Security withholding,...

Using the attached template, you are to compute the gross pay, federal withholding, Social Security withholding, Medicare withholding and the net payment for this company. Assume there is no state income tax. Overtime is paid at a rate of 1.5 times the normal wage rate. NOTE: PLEASE DONT FORGET THE PIVOT TABLE! In addition, compute the total gross pay, federal withholding, Social Security withholding, Medicare withholding and net payment for all the employees. Further, create a pivot table indicating the...

Federal Income Tax Withholding Bob Avery's weekly gross earnings for the present week were $2,740. Avery...

Federal Income Tax Withholding Bob Avery's weekly gross earnings for the present week were $2,740. Avery has three exemptions. Using the wage bracket withholding table in Exhibit 2 with a $75 standard withholding allowance for each exemption, what is Avery's federal income tax withholding? Round your answer to two decimal places.

1.In each of the following independent situations, determine the maximum withholding allowances permitted that Eli (an...

1.In each of the following independent situations, determine the maximum withholding allowances permitted that Eli (an employee) is permitted on the Form W-4. Maximum Withholding Allowances a. Eli is single with no dependents. b. Eli is married to a nonemployed spouse, and they have no dependents. c. Eli is married to Vera, an employed spouse who earns $25,000, and they have three dependent children, two of whom qualify for the child tax credit. d. Eli is married to Vera, an...

Compute the deductions, net pay, and accumulated gross earnings for each weekly pay period. Assume that...

Compute the deductions, net pay, and accumulated gross earnings for each weekly pay period. Assume that Joseph is single and that $28.25 was withheld for medical insurance (pre-tax) and $20 for his United Way contribution. Use the wage bracket method to determine federal income tax. Round answers to the nearest hundredth. Gross Earnings(650.95) Allow.(1) Fed. Inc. Tax Social Security (6.2%)Medicare (1.45%) Medical Insurance Pre-tax United Way Total Deductions Net Pay Accum. Gross Earnings ($1,558.90)

Bonus Homework for Week 5 Preparing a Weekly Payroll Report Employee Name Gross Weekly Pay State...

Bonus Homework for Week 5 Preparing a Weekly Payroll Report Employee Name Gross Weekly Pay State Withholding Tax Federal Withholding Tax Net Pay Sue Smith $800 ________________ ________________ Tom Brown $300 ________________ ________________ Mary Wilson $250 ________________ ________________ James Jackson $100 ________________ ________________ John Sinatra $600 ________________ ________________ Betty Rockford $1,255 ________________ ________________ Similar assignment as our in-class IF function work - you must calculate the amount of State Withholding Tax and Federal Withholding Tax. Also calculate Net Pay. Watch-out...

Andy and Sally are married and under 50. They have no dependents. Sally’s salary (Federal withholding...

Andy and Sally are married and under 50. They have no dependents. Sally’s salary (Federal withholding $3,000) 60,000 Andy’s salary (Federal withholding $3,000) 45,000 City of Dallas bonds 1,500 Chase Bank Interest 3,000 GM bonds 5,000 Take a standard deduction, deduct their personal exemptions, and compute their tax and the tax refund or balance due:

Weekly gross income earned by lecturers in XYZ University is normally distributed with a mean of...

Weekly gross income earned by lecturers in XYZ University is normally distributed with a mean of $1,600 and a standard deviation of $250. The Chief Operation Manager of XYZ University would like to do an audit on the weekly gross income earned by lecturers in his institution. Assist the manager is answering this: what is the probability that if 50 lecturers are randomly selected, their average weekly gross income would be more than $1,700? a. 0.9954 b. 0.9977 c. 0.0023...

Question