A salesclerks take-home pay is found by subtracting all taxes and retirement contributions from gross pay (which
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A salesclerk’s take-home pay is found by subtracting all taxes and retirement contributions from gross pay (which consists of salary plus commission). Given the following information, complete parts (a)–(c).
Salary = $300.00
Commission = $788.91
Retirement = 5% of gross pay
Taxes: State = 5% of gross pay
Local = 1% of gross pay
Federal withholding = 25% of (gross pay less retirement)
Federal Social Security and Medicare = 7.65% of gross pay
(a) Find the gross pay.
(b) Find the amount of federal withholding.
(c) Find the take-home pay.
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Related Book For
Mathematical Applications For The Management, Life And Social Sciences
ISBN: 9781337625340
12th Edition
Authors: Ronald J. Harshbarger, James J. Reynolds
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