Hark Enterprises in Taft, Wyoming, has six employees who are paid on a semimonthly basis. Assume that all wages are subject to Social Security and Medicare taxes and the cafeteria plan is qualified. Required: Calculate the net pay from the information provided below for the August 15 pay date. Use the percentage method in Appendix C (or the IRS federal income tax assistant or IRS Publication 15-T) to compute federal income taxes. You do not need to complete the number of hours. No one has checked the box in Step 2 and there is no additional information in Step 4. (Round your intermediate calculations and final answers to 2 decimal places.) Appendix C link: lan4797X_appC (mheducation.com)

a.

L. Fletcher:

Married/Joint, Two dependents

Gross pay: $1,320 per period

401(k) deduction: 2% of gross pay per pay period

b.

S. Lince

Single, No dependents

Gross pay: $1,745 per period

401(k) deduction: $220 per pay period

c.

A. Brown

Single, One dependent

Gross pay: $2,120 per period

Section 125 deduction: $25 per pay period

401(k) deduction: $150 per pay period

d.

R. Kimble

Married/Joint, Three dependents

Gross pay: $1,570 per period

United Way deduction: $25 per pay period

Garnishment: $75 per period

e.

F. Monteiro

Married/Joint, No dependents

Gross pay: $2,200 per period

Section 125 deduction: $100 per period

401(k) deduction: 4% of gross pay

f.

K. Giannini

Single, One Other dependent

Gross pay: $1,485 per period

401(k) deduction: $120 per period

0% 2020 Percentage Method Tables for Manual Payroll Systems With Forms W-4 From 2020 or Later SEMIMONTHLY Payroll Period STANDARD Withholding Rate Schedules Form W-4, Step 2. Checkbox, Withholding Rate Schedules (Use these if the box in Step 2 of Form W-4 is NOT checked) (Use these if the box in Step 2 of Form W-4 IS checked) If the Adjusted Wage of the If the Adjusted Wage of the Amount (line 1h) is: The amount that Amount (line 1h) is: The amount that tentative the Adjusted tentative the Adjusted But less amount to Plus this Wago But less amount to Plus this Wage At least than- withhold is: percentage-exceeds- At least than-withhold is: percentage-exceeds- B D E A B D E Married Filing Jointly Married Filing Jointly $0 $1,033 $0.00 $o $0 $517 $0.00 0% $0 $1,033 $1,856 $0.00 10% $1,033 $517 $928 $0.00 10% $517 $1.856 $4.377 $82.30 12% $1.856 $928 $2.189 $41.10 12% $928 $4,377 $8.160 $384.82 22% $4,377 $2.189 $4,080 $192.42 22% $2.189 $8,160 $14,642 $1,217.08 24% $8.160 $4,080 $7,321 $608,44 24% $4.080 $14,642 $18,313 $2,772.76 32% $14,642 $7,321 $9.156 $1.386.28 32% $7,321 $18,313 $26,952 $3,947.48 35% $18,313 $9,156 $13,476 $1.973.48 35% $9,156 $26.952 $6,971.13 37% $26.952 $13.476 $3,485.48 37% $13,476 Single or Married Filing Separately Single or Married Filing Separately $0 $517 $0.00 0% $0 $0 $258 $0.00 0% $0 $517 $928 $0.00 10% $517 $258 $464 $0.00 10% $258 $928 $2,189 12% $928 $464 $1,094 $20.60 12% $464 $2,189 $4,080 $192.42 22% $2.189 $1,094 $2,040 $96.20 22% $1,094 $4,080 $7,321 $608,44 24% $4,080 $2,040 $3,660 $304.32 24% $2,040 $7,321 $9,156 $1,386.28 32% $7,321 $3,660 $4,578 $693.12 32% $3,660 $9,156 $22.117 $1.973.48 35% $9,156 $4,578 $11,058 $986.88 35% $4,578 $22.117 $6,509.83 37% $22. 117 $11,058 $3,254.88 $11,058 $41.10 37% $777 $0 $777 $1,365 $1,365 $3.015 $3.015 $4,340 $4,340 $7,581 $7,581 $9.417 $9,417 $22,377 $22,377 Head of Household $0.00 $0.00 $58.80 $256.80 $548,30 $1,326.14 $1.913.66 $6,449.66 0% 10% 12% 22% 24% 32% 35% 37% $O $777 $1,365 $3,015 $4,340 $7,581 $9,417 $22,377 $0 $389 $682 $1,507 $2,170 $3,791 $4,708 $11.189 Head of Household $389 $0.00 $682 $0.00 $1,507 $29.30 $2,170 $128.30 $3.791 $274.16 $4,708 $663.20 $11,189 $956.64 $3.224.99 0% 10% 12% 22% 24% 32% 35% 37% $O $389 $682 $1,507 $2,170 $3.791 $4,708 $11.189 Hun Date PR Dale 06/15 0015 Company Name Check bei Hark Enterprises 06/15 Name Fing Hoy Dependent No. of No. of Red Hours Or Hody |Coor Hours for FCA M $ Ficher Lince, Brown, A KR Mon F Two 17 0 One cil. One 5 Period Wage 5 1.32000 $174500 $ 2.120.00 S 1.570 00 5 2.200.00 5 1.455.00 ro Lam 40100 Sections Federal SW $ 12000 26.40 5 123 517600 22001 15503 5 2.120 000 15000 SOS 1945.00 1315700 157000 $ 2.200 000 10000 2000 S48512000 $10.44802 5442 $ 3 2.2000 Tweet? 0 One other w M S 1100 175 000 2.095.00 1.570.00 2,100.00 Totals 103150 Name Cross Earnings SW United Way Cament echt Lince, Brown. A Kombe Monte CK 3 5 5 Table Wages for Federal State W $ 1.203.60 $ 1.535.00 5.1.945.00 3 1.570.00 5 2.012.09 51.35500 59.210.00 1.320.00 1745.00 2 1.2000 1.570.00 2.2000 1.455.00 5 Wages for FICA $ 1.320.00 S 1.745.00 S 2015.00 $157000 52.100.00 S1465.00 Federal So Medicare Seourly Tax WIM Tax 5 0.005 3184 19.14 15 11274 10819 25.300 5 500S 129S 30.38 5 0.0003 7345 2277 S 101023 130 2003 30.45 is 727105 3207 2150 $ 345.44 3 6953 LI 1.15 1877 1.NO 1 100 1.18 75.00 3 5 Total 10.409100 3 25.00 5 3406