Question: please explain how you got this! I try to do it in excel but I honestly have no idea how to calculate it all. Richard

please explain how you got this! I try to do it inexcel but I honestly have no idea how to calculate it all.Richard Gaziano is a manager for Health Care, Inc. Health Care deductsplease explain how you got this! I try to do it in excel but I honestly have no idea how to calculate it all.

Richard Gaziano is a manager for Health Care, Inc. Health Care deducts Social Security, Medicare, and FIT (by percentage method) from his earnings. Assume a rate of 6.2% on $118,500 for Social Security and 1.45% for Medicare. Before this payroll, Richard is $1,000 below the maximum level for Social Security earnings. Richard is married, is paid weekly, and claims 2 exemptions. What is Richard's net pay for the week if he earns $1,100? (Use Table 7.1 and Table 7.2). (Round your answer to the nearest cent.) Net pay Payroll Period Weekly ....... Biweekly Semimonthly ... Monthly ...... Quarterly ...... Semiannually ... Annually ....................... Daily or miscellaneous (each day of the payroll One Withholding Allowance $ 76.90 153.80 166.70 333.30 1,000.00 2,000.00 4,000.00 period) . . . . . . . . . . . . . . . . . . . 15.40 . . . . . . Percentage Method Tables for Income Tax Withholding TABLE 1-WEEKLY Payroll Period (a) SINGLE person (including head of household) |(b) MARRIED person- If the amount of wages If the amount of wages (after subtracting The amount of income tax (after subtracting The amount of income tax withholding allowances) is: to withhold is: withholding allowances) is: to withhold is: Not over $44.. Not over $165 ....... Over But not over- of excess over-Over- But not over- of excess over- $44 -$222 .. $0.00 plus 10% $165 -$520 .. $0.00 plus 10% -$165 $222 - $764 . . $17.80 plus 15% $520 -$1,606 .. $35.50 plus 15% -$520 $764 -$1,789 .. $99.10 plus 25% -$764 $1,606 -$3,073 . $198.40 plus 25% -$1,606 $1,789 -$3,685 .. $355.35 plus 28% -31,789 $3,073 $4,597 .. $565.15 plus 28% -$3,073 $3,685 -$7,958 .. $836.23 plus 33% -33,685 $4,597 $8,079 .. $991.87 plus 33% -$4,597 $7,958 -$7,990 . $2296.32 plus 35% 37,958 $8,079 -$9,105 .. $2,140.93 plus 35% - $8,079 $7,990 $2,307.52 plus 39.6% - $7,990 $9,105 ... $2,500.03 plus 39.6% -$9,105 TABLE 2-BIWEEKLY Payroll Period -$44 -$222) (a) SINGLE person (including head of household) |(b) MARRIED person- If the amount of wages If the amount of wages (after subtracting The amount of income tax (after subtracting The amount of income tax withholding allowances) is: to withhold is: withholding allowances) is: to withhold is: Not over $88......... SO Not over $331 ........$0 Over- But not over- of excess over-Over- But not over- of excess over- $88 - $443 .. $0.00 plus 10% -$88 $331 -$1,040 .. $0.00 plus 10% -$331 $443 51,529 .. $35.50 plus 15% -$443 $1,040 $3,212 .. $70.90 plus 15% -$1,040 $1,529 -$3,579 . . $198.40 plus 25% -31,529 $3,212 -$6.146.. $396.70 plus 25% -$3,212 $3,579 -$7,369.. $710.90 plus 28% -33,579 $6,146 $9,194.. $1,130.20 plus 28% -$6,146 $7,369 $15,915 . . $1.772.10 plus 33% -37,369 $9,194 $16,158 .. $1,983.64 plus 33% -$9,194 $15,915 $15,981 .. $4,592.28 plus 35% -$15,915 $16,158 $18,210 .. $4,281.76 plus 35% -$16,158 $15,981 $4,615.38 plus 39.6% -$15,981 $18,210 ...... $4,999.96 plus 39.6% -$18,210 TABLE 3-SEMIMONTHLY Payroll Period (a) SINGLE person (including head of household) (b) MARRIED person- If the amount of wages If the amount of wages (after subtracting The amount of income tax (after subtracting The amount of income tax withholding allowances) is: to withhold is: withholding allowances) is: to withhold is: Not over $96.......... $0 Not over $358 ......... $0 Over- But not over- of excess over-Over- But not over- of excess over- $96 $480 .. $0.00 plus 10% -596 $358 $1,127 .. $0.00 plus 10% -$358 $480 -$1,656 .. $33.40 plus 15% -$480 $1,127 -$3,479 .. $76.90 plus 15% -$1,127 $1,656 -$3,877 .. $214.80 plus 25% -31,656 $3,479 -$6,658 .. $429.70 plus 25% -$3,479 $3,877 -$7,983 .. $770.05 plus 28% -53,877 $6,658 -$9,960 . . $1,224.45 plus 28% -$6,658 $7,983 -$17,242 . . $1.919.73 plus 33% -57,983 $9.960 -$17.504 $2.149,01 plus 33% -$9,960 $17.242 $17,313 .. $4.975.20 plus 35% -$17,242$17,504 $19,727 .. $4,638.53 plus 35% -$17,504 $17,313...........$5.000.05 plus 39.6% -$17,313 $19.727 ............$5,416.58 plus 39.6% -$19,727 TABLE 4-MONTHLY Payroll Period (a) SINGLE person (including head of household) |(b) MARRIED person- If the amount of wages If the amount of wages (after subtracting The amount of income tax (after subtracting The amount of income tax withholding allowances) is: to withhold is: withholding allowances) is: to withhold is: Not over $192. Not over $717 ......... SO Over- But not over- of excess over-Over- But not over- of excess over- $192 -$960 $0.00 plus 10% -$192) $717 - $2,254 .. $0.00 plus 10% -$717 $960 -$3,313 .. $76.80 plus 15% -$960 $2,254 -$6,958 .. $153.70 plus 15% -$2,254 $3,313 -$7,754 .$429.75 plus 25% -33,313 $6,958 -$13,317 .. $859.30 plus 25% -$6,958 $7,754 -$15,967 . . $1.540.00 plus 28% -$7,754 $13,317 -$19,921 .. $2,449.05 plus 28% - $13,317 $15,967 -$34,483. . $3,839.64 plus 33% -$15,967 $19,921 -$35,008 . $4,298.17 plus 33% -$19,921 $34,483 -$34,625 . . $9.949.92 plus 35% -$34,483) $35,00B -$39,454 . . $9,276.88 plus 35% -$35,008 $34,625 ............ $9,999.62 plus 39.6% -$34,625 $39,454 .... ... $10,832.98 plus 39.6% -$39,454 Richard Gaziano is a manager for Health Care, Inc. Health Care deducts Social Security, Medicare, and FIT (by percentage method) from his earnings. Assume a rate of 6.2% on $118,500 for Social Security and 1.45% for Medicare. Before this payroll, Richard is $1,000 below the maximum level for Social Security earnings. Richard is married, is paid weekly, and claims 2 exemptions. What is Richard's net pay for the week if he earns $1,100? (Use Table 7.1 and Table 7.2). (Round your answer to the nearest cent.) Net pay Payroll Period Weekly ....... Biweekly Semimonthly ... Monthly ...... Quarterly ...... Semiannually ... Annually ....................... Daily or miscellaneous (each day of the payroll One Withholding Allowance $ 76.90 153.80 166.70 333.30 1,000.00 2,000.00 4,000.00 period) . . . . . . . . . . . . . . . . . . . 15.40 . . . . . . Percentage Method Tables for Income Tax Withholding TABLE 1-WEEKLY Payroll Period (a) SINGLE person (including head of household) |(b) MARRIED person- If the amount of wages If the amount of wages (after subtracting The amount of income tax (after subtracting The amount of income tax withholding allowances) is: to withhold is: withholding allowances) is: to withhold is: Not over $44.. Not over $165 ....... Over But not over- of excess over-Over- But not over- of excess over- $44 -$222 .. $0.00 plus 10% $165 -$520 .. $0.00 plus 10% -$165 $222 - $764 . . $17.80 plus 15% $520 -$1,606 .. $35.50 plus 15% -$520 $764 -$1,789 .. $99.10 plus 25% -$764 $1,606 -$3,073 . $198.40 plus 25% -$1,606 $1,789 -$3,685 .. $355.35 plus 28% -31,789 $3,073 $4,597 .. $565.15 plus 28% -$3,073 $3,685 -$7,958 .. $836.23 plus 33% -33,685 $4,597 $8,079 .. $991.87 plus 33% -$4,597 $7,958 -$7,990 . $2296.32 plus 35% 37,958 $8,079 -$9,105 .. $2,140.93 plus 35% - $8,079 $7,990 $2,307.52 plus 39.6% - $7,990 $9,105 ... $2,500.03 plus 39.6% -$9,105 TABLE 2-BIWEEKLY Payroll Period -$44 -$222) (a) SINGLE person (including head of household) |(b) MARRIED person- If the amount of wages If the amount of wages (after subtracting The amount of income tax (after subtracting The amount of income tax withholding allowances) is: to withhold is: withholding allowances) is: to withhold is: Not over $88......... SO Not over $331 ........$0 Over- But not over- of excess over-Over- But not over- of excess over- $88 - $443 .. $0.00 plus 10% -$88 $331 -$1,040 .. $0.00 plus 10% -$331 $443 51,529 .. $35.50 plus 15% -$443 $1,040 $3,212 .. $70.90 plus 15% -$1,040 $1,529 -$3,579 . . $198.40 plus 25% -31,529 $3,212 -$6.146.. $396.70 plus 25% -$3,212 $3,579 -$7,369.. $710.90 plus 28% -33,579 $6,146 $9,194.. $1,130.20 plus 28% -$6,146 $7,369 $15,915 . . $1.772.10 plus 33% -37,369 $9,194 $16,158 .. $1,983.64 plus 33% -$9,194 $15,915 $15,981 .. $4,592.28 plus 35% -$15,915 $16,158 $18,210 .. $4,281.76 plus 35% -$16,158 $15,981 $4,615.38 plus 39.6% -$15,981 $18,210 ...... $4,999.96 plus 39.6% -$18,210 TABLE 3-SEMIMONTHLY Payroll Period (a) SINGLE person (including head of household) (b) MARRIED person- If the amount of wages If the amount of wages (after subtracting The amount of income tax (after subtracting The amount of income tax withholding allowances) is: to withhold is: withholding allowances) is: to withhold is: Not over $96.......... $0 Not over $358 ......... $0 Over- But not over- of excess over-Over- But not over- of excess over- $96 $480 .. $0.00 plus 10% -596 $358 $1,127 .. $0.00 plus 10% -$358 $480 -$1,656 .. $33.40 plus 15% -$480 $1,127 -$3,479 .. $76.90 plus 15% -$1,127 $1,656 -$3,877 .. $214.80 plus 25% -31,656 $3,479 -$6,658 .. $429.70 plus 25% -$3,479 $3,877 -$7,983 .. $770.05 plus 28% -53,877 $6,658 -$9,960 . . $1,224.45 plus 28% -$6,658 $7,983 -$17,242 . . $1.919.73 plus 33% -57,983 $9.960 -$17.504 $2.149,01 plus 33% -$9,960 $17.242 $17,313 .. $4.975.20 plus 35% -$17,242$17,504 $19,727 .. $4,638.53 plus 35% -$17,504 $17,313...........$5.000.05 plus 39.6% -$17,313 $19.727 ............$5,416.58 plus 39.6% -$19,727 TABLE 4-MONTHLY Payroll Period (a) SINGLE person (including head of household) |(b) MARRIED person- If the amount of wages If the amount of wages (after subtracting The amount of income tax (after subtracting The amount of income tax withholding allowances) is: to withhold is: withholding allowances) is: to withhold is: Not over $192. Not over $717 ......... SO Over- But not over- of excess over-Over- But not over- of excess over- $192 -$960 $0.00 plus 10% -$192) $717 - $2,254 .. $0.00 plus 10% -$717 $960 -$3,313 .. $76.80 plus 15% -$960 $2,254 -$6,958 .. $153.70 plus 15% -$2,254 $3,313 -$7,754 .$429.75 plus 25% -33,313 $6,958 -$13,317 .. $859.30 plus 25% -$6,958 $7,754 -$15,967 . . $1.540.00 plus 28% -$7,754 $13,317 -$19,921 .. $2,449.05 plus 28% - $13,317 $15,967 -$34,483. . $3,839.64 plus 33% -$15,967 $19,921 -$35,008 . $4,298.17 plus 33% -$19,921 $34,483 -$34,625 . . $9.949.92 plus 35% -$34,483) $35,00B -$39,454 . . $9,276.88 plus 35% -$35,008 $34,625 ............ $9,999.62 plus 39.6% -$34,625 $39,454 .... ... $10,832.98 plus 39.6% -$39,454

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