Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The San Bernardino County Fair hires about 125 people during fair time. Their hourly wages range from $5.90 to $8.70. California has a state

image text in transcribed

The San Bernardino County Fair hires about 125 people during fair time. Their hourly wages range from $5.90 to $8.70. California has a state income tax of 9%. Sandy Denny earns $8.70 per hour; George Barney earns $5.90 per hour (assume this is the current minimum wage). They both worked 36 hours this week. Both are married; however, Sandy claims 2 exemptions and George claims 1 exemption. Assume a rate of 6.2% on $128,400 for Social Security and 1.45% for Medicare. a. What is Sandy's net pay after FIT (use the Table 9.1 and Table 9.2), Social Security tax, state income tax, and Medicare have been taken out? (Round your answer to the nearest cent.) Sandy's net pay after FIT b. What is George's net pay after the same deductions? (Round your answer to the nearest cent.) George's net pay after FIT c. How much more is Sandy's net pay versus George's net pay? (Round your answer to the nearest cent.) Difference in net pay

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting for Governmental and Nonprofit Entities

Authors: Jacqueline Reck, Suzanne Lowensohn, Earl Wilson

17th edition

78025826, 978-1259564239, 1259564231, 978-0078025822

More Books

Students also viewed these Accounting questions