Question
Joe earns a gross pay of $1,000 for the week just ended. Use the following information to determine Joe's take home pay and the total
Joe earns a gross pay of $1,000 for the week just ended. Use the following information to determine Joe's take home pay and the total payroll taxes incurred by the company. Assume Joe is paid in cash on payday.
Federal Income tax 3% of gross pay
State Income tax 2% of gross pay
Social Security tax 6.2% of gross pay
Medicare tax 1.45% of gross pay
State Unemployment Tax 5.4% of gross pay
Federal Unemployment Tax .8% of gross pay
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Accounting Information Systems
Authors: Steven M. Bragg
2nd Edition
164221079X, 9781642210798
