Question
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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