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In this lab, we will calculate a simple paycheck. To be able to calculate a paycheck, you will need some information from the user. We need their GROSS$\_$PAY, PAY$\_$PERIOD, and FILING$\_$STATUS.

The calculation of a person's NET$\_$PAY, the money left over after "Uncle Sam" gets his portion, requires the computation of three tax amounts. They are Federal Income Tax $($FIT$),$ Social Security Tax $($SS$),$ and Medicare Tax

$($MED$).$ Once these three tax amounts are determined, tabulation of the NET$\_$PAY becomes a matter of basic subtraction as: GROSS$\_$PAY $-$ FIT $-$ SS $-$ MED $=$ NET$\_$PAY

To calculate FIT, use the attached tax tables. For the purpose of this lab, we will use the Standard Tax tables for the bi$-$weekly, semi$-$monthly, and monthly pay periods.

First, choose the proper table for the PAY$\_$PERIOD $($Bi$-$weekly, Semi$-$monthly, or Monthly$).$

Second, choose the proper bracket for the FILING$\_$STATUS $($Separate or Joint$).$

Third, find the line where the GROSS$\_$PAY falls between COLUMN$\_$A and COLUMN$\_$B in the tax bracket.

Social Security Tax $($SS$)$ is calculated by multiplying GROSS$\_$PAY by $6\mathrm{.}2\%,$ or GROSS$\_$PAY $*0\mathrm{.}062.$

Medicare Tax $($MED$)$ is calculated by multiplying GROSS$\_$PAY by $1\mathrm{.}45\%,$ or GROSS$\_$PAY $*0\mathrm{.}0145.$ Screens necessary to complete this program at a minimum would include a main menu screen and a paycheck input$/$output screen.

Here's an example:alculate a simple paycheck. To be able to calculate a paycheck, you will need some information from the user. We need their GROSS$\_$PAY, PAY$\_$PERIOD, and FILING$\_$STATUS.

The calculation of a person$$s NET$\_$PAY, the money left over after $$Uncle Sam$$ gets his portion, requires the computation of three tax amounts. They are Federal Income Tax $($FIT$),$ Social Security Tax $($SS$),$ and Medicare Tax $($MED$).$ Once these three tax amounts are determined, tabulation of the NET$\_$PAY becomes a matter of basic subtraction as: GROSS$\_$PAY $$ FIT $$ SS $$ MED $=$ NET$\_$PAY

To calculate FIT, use the attached tax tables. For the purpose of this lab, we will use the Standard Tax tables for the bi$-$weekly, semi$-$monthly, and monthly pay periods.

First, choose the proper table for the PAY$\_$PERIOD $($Bi$-$weekly, Semi$-$monthly, or Monthly$).$

Second, choose the proper bracket for the FILING$\_$STATUS $($Separate or Joint$).$

Third, find the line where the GROSS$\_$PAY falls between COLUMN$\_$A and COLUMN$\_$B in the tax bracket.

Lastly, FIT is calculated as: COLUMN$\_$C $+($COLUMN$\_$D $*($GROSS$\_$PAY $$ COLUMN$\_$E$))$

Social Security Tax $($SS$)$ is calculated by multiplying GROSS$\_$PAY by $6\mathrm{.}2\%,$ or GROSS$\_$PAY $*0\mathrm{.}062.$

Medicare Tax $($MED$)$ is calculated by multiplying GROSS$\_$PAY by $1\mathrm{.}45\%,$ or GROSS$\_$PAY $*0\mathrm{.}0145.$