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THE QUESTION IS ALL THE WAY AT THE BOTTOM :) TABLES BELOW ARE NECESSARY FOR THE PROBLEM: Table 9.1 Withholding allowance Take the weekly total

THE QUESTION IS ALL THE WAY AT THE BOTTOM :) TABLES BELOW ARE NECESSARY FOR THE PROBLEM:

Table 9.1 Withholding allowance

Take the weekly total pay and Multiply the number of 1 allowance by $76.90. One Weekly allowance is $76.90. (Ex. Allowances claimed: 2. So you take 2 x $76.90 = $153.80 - Weekly Pay= amount and take it from table 9.2)

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Table 9.2:

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**QUESTION: "Assume a tax rate of 6.2% on $118,500 for Social Security and 1.45% for Medicare. No one will reach the maximum for FICA. Complete the following payroll register. Assume payroll period: weekly. (Use the percentage method to calculate FIT for this weekly period.) (Use Table 9.1 and Table 9.2). (Do not round intermediate calculations. Round your final answers to the nearest cent.)

FICA

Employee

Marital status

Allowances claimed

Gross pay

FIT

S.S.

Med.

Net pay

Mike Rice

M

2

$1,600

$

$

$

$

TABLE 9.1 TABLE One Withholding Allowance Payroll Period Weekly . . . . Semimonthly Percentage method income tax withholding allowances $ 76.90 153.80 166.70 333.30 1,000.00 2,000.00 4,000.00 Monthly Annually Daily or miscellaneous (each day of the payroll period) 15.40

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