due Friday night at 11 pm central. I have one more free check on this. (meaning I can correct and still get points) NOTE That ALL BUT One OF MY ANSWERS were WRONG! I used coursehero document to find this answer and the answer was wrong. I'm thinking it might have to do with the current tax rate. The coursehero document answer was from 2014.

1. Note: In this chapter and in all succeeding work throughout the course, unless instructed otherwise, calculate hourly rates and overtime rates as follows: 1. Carry the hourly rate and the overtime rate to 3 decimal places and then round off to 2 decimal places (roun 2 decimal places before multiplying by one and one-half to determine the over-time rate). 2. If the third decimal place is 5 or more, round to the next higher cent. 3. If the third decimal place is less than 5, simply drop the third decimal place. Examples: Monthly rate $1,827 Weekly rate ($1,827 12)/52 = $421.615 rounded to $421.62 Hourly rate $421.62/40 = $10.540 rounded to $10.54 O.T. rate $10.54 1.5 = $15.81 2. Also, use the minimum hourly wage of $7.25 in solving these problems and all that follow. 3. Herman Swayne is a waiter at the Dixie Hotel. In his first weekly pay in March, he earned $360.00 for the 40 hours he worked. In addition, he reports his tips for February to his employer ($700.00), and the employer withholds the appropriate taxes for the tips from this first pay in March. 4. Calculate his net take-home pay assuming the employer withheld federal income tax (wagebracket, married, 2 allowances), social security taxes, and state income tax (2%). 5. Enter deductions beginning with a minus sign (-). Round your answers to the nearest cent and use the rounded answers in subsequent computations. 6. Click here to access the Wage-Bracket Method Tables. Gross pay $ 360 Correct Federal income tax 95 Incorrect Social security taxes - OASDI 65.72 Incorrect Social security taxes - HI 15.37 Incorrect State income tax 21.20 Incorrect 162.71 Incorrect Net pay $ 7. Feedback 8. Calculate net pay, when gross pay includes wages and tips. The gross check the employer is cutting is $360, but the tax calculations are all performed on $1060