# MartensLA5 - .06 160000 = 9600 9600.25 = 2400 She received 2400 3 Find the net pay for the following employee after FICA Medicare federal

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1. Scott is paid \$48,000 annually. Find the equivalent earnings if this amount is paid (a) weekly, (b) biweekly, (c) semimonthly, and (d) monthly. 1. Weekly = 48,000/52 = 923.076923 2. Biweekly = 48,000/26 = 1,846.15385 3. Semimonthly = 48,000/24 = 2000 4. Monthly = 48,000/12 = 4000 2. Danielle receives a commission of 6.5% for selling a \$160,000 house. One half of the commission goes to the broker, and one half of the remainder to another salesperson. Danielle receives teh rest. Find the amount she receives. .06 * 160000 = 9600 9600 * .5 = 4800 4800 * .5 = 2400 She received 2400. -- 2 nd way--

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Unformatted text preview: .06 * 160000 = 9600 9600*.25 = 2400 She received 2400. 3. Find the net pay for the following employee after : FICA, Medicare federal withholding tax state disability and other deductions have been made. Use the percentage method of withholding for Mr. L. Solemo: \$1410.65 monthly earnings, 1 withholding allowance, single, \$47.80 in other deductions 848.72 4. Find (a) the Social Security tax and (b) the Medicare tax for the following self-employed person. Use a FICA tax rate of 12.4% and a Medicare tax rate of 2.9% for Mrs. Leatherwood: \$51,582.24 43,690.16...
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## This note was uploaded on 12/30/2009 for the course MATH 1220 taught by Professor Roarty during the Spring '09 term at Metropolitan Community College- Omaha.

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MartensLA5 - .06 160000 = 9600 9600.25 = 2400 She received 2400 3 Find the net pay for the following employee after FICA Medicare federal

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