A sales clerk's take-home pay is found by subtracting all taxes and retirement contributions from 1gross pay
Question:
A sales clerk's take-home pay is found by subtracting all taxes and retirement contributions from 1gross pay (which consists of salary plus commission). Given the following information, complete parts (a)-(c).
Salary $300.00 Commission = $788.91
Retirement = 5% of gross pay
Taxes: State = 5% of gross pay
..........Local = 1% of gross pay
Federal withholding = 25% of (gross pay less retirement)
Federal social security and Medicare = .65% of gross pay
(a) Find the gross pay.
(b) Find the amount of federal withholding.
(c) Find the take-home pay.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds
Question Posted: