Use the following to answer questions 14 18

You have been working at a local distributor for the past couple of years. Your bi-weekly salary is $1,550. Your average income tax rate is 10% plus FICA taxes at 7.65%. Your employer provides health insurance to you which costs your employer $525.00 per pay and costs you $50 per pay (assume this is after tax). Determine the following based on your pay for your LAST paycheck of the year.

14. $______.__ __How much will your employer withhold from your paycheck for federal income taxes?

15. $______.__ __How much will your employer withhold from your paycheck for FICA taxes? (round to two decimal places)

16. $________.__ __How much will your employer direct deposit into your bank account for your pay? (round to two decimal places)

17. $________.__ __What is your total cost to your employer for the bi-weekly pay period? (round to two decimal places)

18. $__ __.__ __ If you work 80 hours bi-weekly, what is the average hourly cost to your employer for your services? (round to two decimal places)