Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

9. Brown Company has only one employee named Julie Winn. The following information has been compiled to compute Winn's payroll for the first pay period

image text in transcribed
9. Brown Company has only one employee named Julie Winn. The following information has been compiled to compute Winn's payroll for the first pay period of January Gross Pay for the first pay period of January $5,000 The following tax rates are in effect: Rate FICA Social Security 6.20% FICA-Medicare 1.45% FUTA 0.60% SUTA 5.40% Federal Income Tax 9.00% There are no state income taxes. Applied To First $127.200 All gross pay First $7,000 First $7,000 All gross pay Winn's net pay is: a. $5,000.00 b. $3,867.50 c. $4,550.00 d. $4,167.50 Answer Key D

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions