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plz help An employee earns $42 per hour and 1.5 times that rate for overtime (all hours in excess of 40 per week). If the
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An employee earns $42 per hour and 1.5 times that rate for overtime (all hours in excess of 40 per week). If the employee worked 52 hours during the week, and has 2 exemptions, determine the employee's net pay by matching the correct amounts for each area listed below. Each exemption is worth $75. Apply the FITW rates using the table in Exhibit 2 on pg. 546 in your textbook. Use the textbook rates of 6% for Social Security and 1.5% for Medicare. Regular Pay Drag answer here $756.00 $419.10 Overtime Drag answer here $146.16 Gross Pay Drag answer here $2,286.00 $2,436.00 Less Exemption(s) Drag answer here $142.56 Amount Subject to Witholding Drag answer here $1,898.46 Initial Witholding per $1,684.20 Dron anwar An employee earns $42 per hour and 1.5 times that rate for overtime (all hours in excess of 40 per week). If the employee worked 52 hours during the week, and has 2 exemptions, determine the employee's net pay by matching the correct amounts for each area listed below. Each exemption is worth $75. Apply the FITW rates using the table in Exhibit 2 on pg. 546 in your textbook. Use the textbook rates of 6% for Social Security and 1.5% for Medicare. $1,898,46 Drag answer here $1,684.20 Initial Witholding per Wage Bracket (See Exh 2 - Pg. 546) Plus: Bracket percentage over Bracket Excess (See Exh 2 - Pg. 546) $1,680.00 Drag answer here $1,195.19 $150.00 Amount Witheld (FITW) Drag answer here $276.54 Less Social Security Tax Drag answer here $75.00 Drag answer here $36.54 Less Medicare Tax An employee earns $42 per hour and 1.5 times that rate for overtime (all hours in excess of 40 per week). If the employee worked 52 hours during the week, and has 2 exemptions, determine the employee's net pay by matching the correct amounts for each area listed below. Each exemption is worth $75. Apply the FITW rates using the table in Exhibit 2 on pg. 546 in your textbook. Use the textbook rates of 6% for Social Security and 1.5% for Medicare. $1,898.46 Plus: Bracket percentage over Bracket Excess (See Exh 2 - pg. 546) Drag answer here $1,684.20 $1,680.00 Amount Witheld (FITW) Drag answer here $1,195.19 Less Social Security Tax Drag answer here $150.00 $276.54 Less Medicare Tax Drag answer here $75.00 Net Pay Drag answer here $36.54 nges Percentage Method Tables for Income Tax Withholding* (For Wages Paid in 2016) TABLE 1-WEEKLY Payroll Period (a) SINGLE person (including head of household) - If the amount of wages (after subtracting withholding allowances) The amount of income tax is: to withhold is: Not over $73..... .$0 Over- But not over- of excess over- $73 -S260 $0.00 plus 10% -$73 $260 -$832 ... $18.70 plus 12% - $260 $832 -$1,692 .. $87.34 plus 22% --$832 $1,692 --S3,164 .. $276.54 plus 24% ---$1,692 $3,164 -$3,998 .. S629.82 plus 32% --$3,164 $3,998 -$9,887 .. $896.70 plus 35% -$3,998 $9,887 $2,957.85 plus 37% -$9,887 Based upon 2019 withholding tables. 4 IRS withholding tables are also available McGrath wage bracket Step by Step Solution
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