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Can you solve & explain the federal income taxes withheld part. Mary Garza's regular hourly wage rate is $30, and she receives a wage of
Can you solve & explain the federal income taxes withheld part.
Mary Garza's regular hourly wage rate is $30, and she receives a wage of 16 times the regular hourly rate for work in excess of 40 hours. During a March weekly pay period. Mary worked 43 hours. Her gross earnings prior to the current week were $6,000. Mary is married and claims three withholding allowances. Her only voluntary deduction is for group hospitalization Insurance at $31.00 per week MARRIED Persons - WEEKLY Payroll Period - (For Wages Paid through December 2022) If the wages are- And the number of withholding allowances claimed is - 0 1 3 8 4 2 5 6 7 9 10 At least But less than The amount of income tax to be withheld is - 1.327 124 114 1,316 105 95 85 75 66 56 46 29 37 1,327 1.338 125 116 106 96 86 77 67 57 48 38 30 1,338 1,349 127 117 107 97 88 78 68 59 49 39 31 1,349 1,360 128 118 108 99 89 79 70 60 50 41 32 1,360 1,371 129 119 110 100 90 81 71 61 52 42 33 1.371 1.382 130 121 111 101 92 82 72 63 53 43 34 1,382 1,393 132 122 112 103 93 83 74 64 54 45 35 1,393 1,404 133 123 114 104 94 85 75 65 56 46 36 (a) Your answer is partially correct. Compute the following amounts for Mary's wages for the current week. (Round all answers to 2 decimal places, e.g. 52.55.) (1) Gross earnings 1335 (2) FICA taxes. (Assume a 7.65% rate on maximum of $132,900) 10212 (3) Federal income taxes withheld. $ 94.78 (4) State income taxes withheld. (Assume a 30% rate.) 10.05 (5) Net pay $ 1098.09 Step by Step Solution
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