2	The names of the employees of Cox Security Systems and their regular salaries are shown in the following payroll register. Note that Hail and
35 pts.	Short are paid monthly on the last payday, while all others are paid weekly.
	In addition to the regular salaries, the company pays an annual bonus (Suppl) based on the amount of earnings for the year. For the current year,
	the bonus amounts to 8% of the annual salary paid to each employee. The bonus is to be paid along with the regular salaries on December 27, 20--,
	and the amount of the regular salary will be shown separately on each employees earnings statement. Assume that all
	employees received their regular salary during the entire year.
	Directions:	Prepare the payroll for the payperiod ending Decemer 27, showing the following for each employee:
		**	Use the wage-bracket method to withhold federal income tax from the regular salaries.
		**	Withhold a flat 22% on the annual bonus.
		**	Total salaries and bonuses are subject to a 2% state income tax and a 1% city income tax.
			December 28, 20xx
	FOR PERIOD ENDING DECEMBER 28, 20XX	Earnings	DEDUCTIONS
				(c) FICA
	EMPLOYEE NAME	MARITAL STATUS	# OF ALLOWANCES	REGULAR	(a) Supplemental	(b) Totals	OASDI	HI	(d) FIT	(e) SIT	(f) CIT
	Hall, Michael	MFJ	N/A	3,500.00
	Short, Joy	MFJ	N/A	2,750.00
	Abbott, Linda	S	N/A	520.00
	Smith, Joseph	MFJ	N/A	465.00
	Tols, Sean M.	MFJ	N/A	380.00
	Gillespie, Michelle	S	N/A	350.00
	Smart, Jennifer	MFJ	N/A	575.00
	White, Matthew J.	S	N/A	425.00
	Totals			8,965.00
	**Monthly
	Compute the eployer's FICA taxes for the pay period ending December 27.
	OASDI TAXES				HI TAXES
	OASDItaxable Earnings			HI taxable Earnings
	OASDI taxes				HI taxes
3	Justin Mathews is a waiter at the Deluxe Lounge. In his first weekly pay in March, he earned $300 for the 40 hours
15 pts	he worked. In addition, he reports his tips for February to his employer ($500.00), and the employer withholds
	the appropriate taxes for the tips from this first pay in March.
	Calculate his net take-home pay assuming the employer withheld federal income tax (wage tax bracket, Married filing jointly,
	allowances, social security and state income tax (2%).
	I recommend you show your work!
4	Samantha Montgomery (age 42) is employed by Canon Company and is paid a salary of $62,430. She has just decided
35 pts.	to join the company's Simple Retirement Account (IRA form) and has a few questions.
	Answer the following for Montomery:
	a.	What is the maximum that she can contribute into this retirment fund?
	b.	What would be the company's contribution?
	c.	What would be her weekly take-home pay with the retirement contribution
		deducted (married filing jointly, wage-bracket method, and a 2.3% State
		income tax on total wages)?
	d.	What would be her weekly take-home pay without the retirment contribution?
	I recommend you show your work!