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Gross pay: Salary $148,800 Bonus 7,440 Gross Pay $156,240 Lenny Worthington is general manager of Moonwalk Salons. Moonwalk incurred payroll tax expense on Worthington for
Gross pay:
Salary
$148,800
Bonus
7,440
Gross Pay
$156,240
Lenny Worthington is general manager of Moonwalk Salons. Moonwalk incurred payroll tax expense on Worthington for During 2018, Worthington worked for the company all year at a FICA tax. The company also paid state unemployment tax and $12,400 monthly salary. He also earned a year-end bonus federal unemployment tax. equal to 5% of his annual salary. Worthington's federal income (Click the icon to view payroll tax rate information.) tax withheld during 2018 was $868 per month, plus $1,116 on his bonus check. State income tax withheld came to $170 per Read the requirements. month, plus $90 on the bonus. FICA tax was withheld on the annual earnings. Worthington authorized the following payroll deductions: Charity Fund contribution of 3% of total earnings and life insurance of $10 per month. Now compute Worthington's payroll deductions and net pay for the year. (Round all amounts to the nearest dollar.) Net pay Withholding deductions: Net (take-home) payStep by Step Solution
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