Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The San Bernardino County Fair hires about 165 people during fair time. Their hourly wages range from $5.60 to $7.10. California has a state income

The San Bernardino County Fair hires about 165 people during fair time. Their hourly wages range from $5.60 to $7.10. California has a state income tax of 9%. Sandy Denny earns $7.10 per hour; George Barney earns $5.60 per hour (assume this is the current minimum wage). They both worked 40 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 Sandys 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.) b. What is Georges net pay after the same deductions? (Round your answer to the nearest cent.) c. How much more is Sandys net pay versus Georges net pay? (Round your answer to the nearest cent.)

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_2

Step: 3

blur-text-image_3

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

International Financial Reporting

Authors: Alan Melville

7th Edition

1292293128, 9781292293127

More Books

Students also viewed these Accounting questions