Question
Lily Carter works for JDK all year and earns a monthly salary of $12,300. There is no overtime pay. Lily's income tax withholding rate is
Lily Carter
works for
JDK
all year and earns a monthly salary of
$12,300.
There is no overtime pay.
Lily's
income tax withholding rate is
15%
of gross pay. In addition to payroll taxes,
Lily
elects to contribute
4%
monthly to United Way.
JDK
also deducts
$200
monthly for co-payment of the health insurance premium. As of September 30,
Lily
had
$125,100
of cumulative earnings.
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Requirement 1. Compute
Lily's
net pay for October. (Round all amounts to the nearest cent.)
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Withholding deductions: | ||
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Net (take-home) pay |
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