Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

How to solve The following salaried employees of Mountain Stone Brewery in Fort Collins, Colorado, are paid semimonthly. Some employees have union dues or garnishments

How to solve
The following salaried employees of Mountain Stone Brewery in Fort Collins, Colorado, are paid semimonthly. Some employees have union dues or garnishments deducted from their pay. You do not need to complete the number of hours.
Required:
Calculate their net pay using the percentage method for manual payroll systems with Forms W-4 from 2020 or later in Appendix C to determine federal income tax. Assume box 2 is not checked for any employee. Include Colorado income tax of 4.40 percent of taxable pay. No employee has exceeded the maximum FICA limit.
Note: Round your intermediate calculations and final answers to 2 decimal places.
\table[[Employee,\table[[Filing Status,],[Dependents]],Pay,\table[[Union Dues],[per Period]],\table[[Gamishment],[per Period]],Net Pay],[S. Bergstrom,MJ-0,$,1,800,,,$,50],[C. Pare,MJ-2(??17,$,3,700,$,120,,,],[L. Van der Hooven,S-1(Other),$,3,425,$,240,$,75,],[S. Lightfoot,MJ-0,$,3,050,,,$,100,]]
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Accounting A Managerial Emphasis

Authors: Charles T. Horngren

3rd Edition

0131800345, 978-0131800342

More Books

Students also viewed these Accounting questions