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Tooka's Trees in Auburn, Tennessee, has six employees who are paid biweekly. Assume that all wages are subject to Social Security and Medicare taxes.
Tooka's Trees in Auburn, Tennessee, has six employees who are paid biweekly. Assume that all wages are subject to Social Security and Medicare taxes. All 401(k) and Section 125 amounts are pre-tax deductions. The wages are not subject to state taxes. You do not need to complete the number of hours. Required: Calculate the net pay from the information provided below for the November 15 pay date. Use the Wage Bracket Method Tables for Income Tax Withholding in Appendix C. (Round your intermediate calculations and final answers to 2 decimal places.) a. T. Taylor Single, four withholdings Gross pay: $1,100 per period 401(k) deduction: $50 per pay period b. B. Walburn Married, six withholdings Gross pay: $1,375 per period 401(k) deduction: $140 per period C. H. Carpenter Single, zero withholding Gross pay: $1,300 per period Section 125 deduction: $65 per period 401(k) deduction: $40 per period d. J. Knight Married, three withholdings Gross pay: $1,150 per period United Way deduction: $50 per period Garnishment: $50 per period e. C. Lunn Single, one withholding Gross pay: $1,200 per period Section 125 withholding: $50 per period 401(k) deduction: 5% of gross pay f. E. Smooter Married, eight withholdings Gross pay: $2,000 per period 401(k) deduction: $75 per period
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