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On Dec. 15, current year, ABC Co. paid 2 employees: Toni is paid $20.00 an hour and worked for 48 hours for the week. Joseph

On Dec. 15, current year, ABC Co. paid 2 employees: Toni is paid $20.00 an hour and worked for 48 hours for the week. Joseph is paid a salary amount of $1,000.00 a week. Toni's federal income tax withholding is $50.00 and Joseph's is $100.00. Joseph contributes $10.00 to United Way and Toni does not. None of the employees had reached the limit for social security taxes.

1) The net amount of take home pay for Joseph is:

  • a. $893.50
  • b. $943.50
  • c. $833.50
  • d. $883.50
  • e. None of the above

2) The combined total of social security taxes for both Toni and Joseph is:

  • a. $85.68
  • b. $150.00
  • c. $58.76
  • d. $56.50
  • e. None of the above

3) The combined total of Medicare taxes for both Toni and Joseph is:

  • a. $85.68
  • b. $150.00
  • c. $95.68
  • d. $115.26
  • e. None of the above

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