Question: May Company has five salaried employees. Your task is to use the following information to calculate net pay for each employee: Assume the following: 1.
.png)
Assume the following:
1. FICA OASDI is 6.2% on $106,800; FICA Medicare is 1.45% on all earnings.
2. Each employee contributes $45 biweekly for medical insurance.
3. State income tax is 4% of gross pay.
4. FIT is calculated from Figure7.2.
Biweekly Employee Dixie, Dylan Fry, Marc Ricard, Alison Hammel, Audrey Clinton, Lionel Allowance and Marital Status S-1 S-1 S-2 S-3 S-3 Cumulative Earnings before This Payroll $46,000 28,000 59,200 105,880 26,000 Salary 1,100 Customer Service 1,250 Office 1,300 Office 1,690Customer Service 1,110 Department Customer Service
Step by Step Solution
3.41 Rating (164 Votes )
There are 3 Steps involved in it
MAY COMPANY D Dixie M Fry A Ricard A Hammel L Clinton Gross earnings for the current pay per... View full answer
Get step-by-step solutions from verified subject matter experts
Document Format (1 attachment)
294-B-A-P (321).docx
120 KBs Word File
