Drill Problem 9-18 [LU 9-2 (1)] Assume a tax rate of 6.2% on $118,500 for Social Security and 1.45% for Medicare. No one will reach the maximum for FICA. Complete the following payroll register. (Use the percentage method to calculate FIT for this weekly period.) (Use Table 9.1 and Table 9.2). (Do not round intermediate calculations and round your final answers to the nearest cent.) FICA Marital status Allowances claimed 4 FIT Employee Pat Brown Net pay M Gross pay $2,300 $ $ S.S. 142.60 $ Med. 33.35 $ TABLE 9.1 Payroll Period Percentage method income tax withholding allowances Weekly ............. Biweekly ............... Semimonthly ........ Monthly ......... Quarterly ...................... Semiannually ............... Annually ......................... Daily or miscellaneous (each day of the payroll period) .......................... One Withholding Allowance $ 76.90 153.80 166.70 333.30 1,000.00 2,000.00 4,000.00 15.40 TABLE 9.2 Percentage method income tax withholding schedules Percentage Method Tables for Income Tax Withholding TABLE 1-WEEKLY Payroll Period (a) SINGLE person (including head of household)- (b) MARRIED person- If the amount of wages If the amount of wages (after subtracting The amount of income tax (after subtracting The amount of income tax withholding allowances) is: to withhold is: withholding allowances) is: to withhold is: Not over $44.......... SO Not over $165.... SO Over But not over- of excess over-Over But not over- of excess over- $44 -$222 .. $0.00 plus 10% -$44 $165 -$520 .. $0.00 plus 10% -$165 $222 -$764 . . $17.80 plus 15% -$222 $520 -$1,606 .. $35.50 plus 15% - $520 $764 -$1,789 .. $99.10 plus 25% -S764 $1,606 -$3,073 . . $198.40 plus 25% -$1,606 $1.789 -$3,685 .. $355.35 plus 28% -$1,789 $3,073 -$4,597 . . $565.15 plus 28% -$3,073 $3,685 $7.958 .. $886.23 plus 33% -$3,685 $4,597 -$8,079 .. $991.87 plus 33% -$4,597 $7.958 -$7,990.. $2,296.32 plus 35% -$7.958 $8.079 -$9,105 $2,140.93 plus 35% -$8,079 $7.990 . . . . . . . . . . . . $2,307.52 plus 39.6% -$7.990 $9.105 $2.500.03 plus 39.6% -$9.105 TABLE 2-BIWEEKLY Payroll Period $0 (a) SINGLE person (including head of household)- (b) MARRIED person- If the amount of wages If the amount of wages (after subtracting The amount of income tax (after subtracting The amount of income tax withholding allowances) is: to withhold is: withholding allowances) is: to withhold is: Not over $88 .......... Not over $331 ........ $0 Over- But not over- of excess over-Over- But not over- of excess over- $88 -$443 .. $0.00 plus 10% -$88 $331 -$1,040 .. $0.00 plus 10% -$331 $4431 -$1,529 .. $35.50 plus 15% -5443 $1,040 -$3,212 .. $70.90 plus 15% -$1,040 $1,529 -$3,579 .. $198.40 plus 25% -$1,529 $3,212 - $6,146 .. $396.70 plus 25% -$3,212 $3,579 -$7,369.. $710.90 plus 28% -$3,579 $6,146 -$9,194.. $1,130.20 plus 28% -$6,146 $7,369 $15,915 .. $1.772.10 plus 33% -$7,369 $9,194 -$16,158 . . $1,983.64 plus 33% -$9.194 $15.915 -$15,981 .. $4.592.28 plus 35% 515 981 -$15,915 $16,158 -$18,210.. $4,281.76 plus 35% $16.158 $15,981 ............ $4,615.38 plus 39.6% -$15,981 $18,210 ............ $4,999.96 plus 39.6% -$18,210 TABLE 3-SEMIMONTHLY Payroll Period SO (a) SINGLE person (including head of household)- (b) MARRIED person- If the amount of wages If the amount of wages (after subtracting The amount of income tax (after subtracting The amount of income tax withholding allowances) is: to withhold is: withholding allowances) is: to withhold is: Not over $96.......... Not over $358 ..... Over But not over- of excess over-Over- But not over- of excess over- $96 -$480 .. $0.00 plus 10% -$96 $358 $1,127 .. $0.00 plus 10% -S358 $480 -$1,656 .. $38.40 plus 15% -S480 $1,127 - $3,479.. $76.90 plus 15% -$1,127 $1,656 -$3,877 . . $214.80 plus 25% -$1,656 $3,479 - $6,658$429.70 plus 25% -$3,479 $3,877 -$7,983 .. $770.05 plus 28% - $3,877 $6,658 -$9,960 . . $1,224.45 plus 28% -$6,658 $7.983 -$17,242.. $1,919.73 plus 33% -$7,983 59.900 -$17,304.. $2,149.01 plus 33% -$9.960 $17.242 -$17,313.. $4.975.20 plus 35% -$17,242 $17.504 -$19,727 .. $4,638.53 plus 35% $17,504 $17,313 . . . . . . . . . . . . $5.000.05 plus 39.6% -$17,313 $19.727 .... $5,416.58 plus 39.6% $19,727 TABLE 4-MONTHLY Payroll Period $0 (a) SINGLE Person (including head of household)- (b) MARRIED person- If the amount of wages If the amount of wages (after subtracting The amount of income tax (after subtracting The amount of income tax withholding allowances) is: to withhold is: withholding allowances) is: to withhold is: Not over $192.... $0 Not over $717. Over- But not over- of excess over-Over But not over- of excOSS over- $192 $960.. $0.00 plus 10% -S192 $717 -$2,254 . . $0.00 plus 10% -S717 $960 -$3,313 .. $76.80 plus 15% -S960 $2,254 -$6,958 . . $153.70 plus 15% -$2,254 $3,313 -$7,754 .. $429.75 plus 25% - $3,313 S6,958 -$13,317 .. $859.30 plus 25% -$6.958 $7,754 -$15,967 .. $1.540.00 plus 28% -$7,754 $13,317 -$19,921 .. $2,449.05 plus 28% -$13,317 $15.967 -$34,483 .. $3.839.64 plus 33% -$15,967 $19.921 -$35,008 .. $4,298.17 plus 33% -$19,921 $34,483 -$34,625 $9.949.92 plus 35% -$34,483 $35,008 -$39,454 .. $9,276.88 plus 35% -$35,008 $34,625............ $9.999.62 plus 39.6% -$34,625 $39,454 ............$10,832.98 plus 39.6% -$39,454