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Mary is a sales person for Challenge Furniture. She receives an incremental commission based on the table below. If she sells $26,000 and has already received a draw of $766.15, how much commission is still owed to Mary?

Level	Sales volume	Commission Rate
1	$0–11,700	3.5%
2	$11,700–21,200	4.1%
3	Over $21,200	4.7%

Solve the problem using 6.2%, up to $128,400 for Social Security tax and using 1.45%, no wage limit, for Medicare tax.

Kristy Dunaway has biweekly gross earnings of $1,650. What are her total Social Security and Medicare tax withholdings (in $) for a whole year?

Social Security$ Medicare$

Use the combined wage bracket tables, Exhibit 9-3 and Exhibit 9-4 , to solve.

Employee	Marital Status	Withholding Allowances	Pay Period	Gross Earnings	Combined Withholding
Alton, A.	S	3	Monthly	$4,753	$

A paving company has 24 employees, 15 with gross earnings of $355 per week and nine with gross earnings of $385 per week. What is the total social security and Medicare tax (in $) the company must send to the Internal Revenue Service for the first quarter of the year?

National Storage employs 88 workers with a gross monthly payroll of $137,000. Fringe benefits are 8.4% of payroll for a profit sharing plan and $9.23 per employee for life insurance.

What percent of payroll is the total cost of fringe benefits? Round your answer to the nearest tenth of a percent.

Level	Sales volume	Commission Rate
1	$0–11,700	3.9%
2	$11,700–21,200	4.1%
3	Over $21,200	4.7%

In an effort to keep low-wage workers' salaries commensurate with the cost of living, a number of states have amended their constitutions to allow the minimum wage to be adjusted with inflation.

You are the accountant for a company that owns a chain of 12 fast food restaurants in a state which adjusts the minimum wage for inflation. Each restaurant employs 45 workers, each averaging 20 hours per week at the current federal minimum wage, $7.25 per hour.

(a)

How many hours at minimum wage are paid out each week by the company?

(b)

At the current rate of $7.25 per hour, what is the amount (in $) of the weekly "minimum wage" portion of the restaurant's payroll?

(c)

If the inflation rate this year is 0.7%, calculate the "adjusted" minimum wage rate (in $ per hour) to be paid next year. (Round your answer to two decimal places.)

$ per hour

(d)

How much in "additional wages" will the company have to pay out next year at the adjusted rate (in $)? (Round your answer to the nearest dollar.)

(e)

Suggest some ways that the restaurant chain or other small businesses can offset the increase in payroll and subsequent decrease in profit as a result of the minimum wage hike.

This answer has not been graded yet.

Go to www.dol.gov/whd/minwage/america.htm and click on your state to find the current minimum wage. (Louisiana)

Jerry King is a server in a restaurant that pays a salary of $26 per day. He also averages tips of 18% of his total gross food orders. Last week he worked 6 days and had total food orders of $2,568.50. What was his total gross pay for the week (in $)?

Frank's base pay rate is $19.50 per hour, with overtime pay of time-and-a-half, and double-time for holidays. Calculate her gross pay if she worked 6.5 holiday hours in addition to 38.5 hours Monday through Saturday. (Round your answer to the nearest cent.)

$877.50$940.88 $1,004.25$1,379.63

This question has several parts that must be completed sequentially. If you skip a part of the question, you will not receive any points for the skipped part, and you will not be able to come back to the skipped part.

Tutorial Exercise

Solve the problem using 6.2%, up to $128,400 for Social Security tax and using 1.45%, no wage limit, for Medicare tax.

What are the social security and Medicare withholdings for an executive whose annual gross earnings are $136,500?

Step 1

The amount of money withheld from the annual gross earnings is the product of the gross earnings and the tax rate expressed as a decimal. Even though the executive has annual gross earnings of $136,500, social security will only be taxed on a maximum of $128,400. The tax rate for social security is 6.2%.

Find the amount of money withheld due to social security.

social security withholdings	=	earnings subject to tax ✕ tax rate
	=	✕ 0.062
	=	$

Solve the problem using 6.2%, up to $128,400 for Social Security tax and using 1.45%, no wage limit, for Medicare tax.

Kristy Dunaway has biweekly gross earnings of $1,950. What are her total Social Security and Medicare tax withholdings (in $) for a whole year?

Social Security$ Medicare$

Tutorial Exercise

Use the percentage method of income tax calculation to complete the payroll roster (in $).

David Grange is married and claims 4 withholding allowances. If he is paid biweekly and earns $1,847 per period, use the percentage method to find his income tax withholding each pay period. (Use Exhibit 9-1 and Exhibit 9-2 from your text.)

Step 1

The amount of income tax withheld from an employee's paycheck is determined by his or her amount of gross earnings, marital status, and the number of withholding allowances claimed. The percentage method of calculating income tax withholding requires the use of two tables. The Percentage Method Amount for One Withholding Allowance table is given below. This table gives the dollar amount of one withholding allowance for various payroll periods.

Payroll Period	One Withholding Allowance
Weekly................................	$ 79.80
Biweekly..............................	159.60
Semimonthly........................	172.90
Monthly...............................	345.80
Quarterly.............................	1,037.50
Semiannually........................	2,075.00
Annually..............................	4,150.00
Daily or Miscellaneous (each day of the payroll period)................................	16.00

The first step in finding the income tax withholding each pay period is to determine the withholding allowance. This is the product of the number of allowances and the amount of one withholding allowance, given in the table above.

The amount of one withholding allowance for a biweekly payroll period is $ . David claims 4 withholding allowances.

Find the total amount of withholding allowance.

total withholding allowance	=	number of allowances ✕ one withholding allowance
	=	4 ✕
	=	$

Use the percentage method of income tax calculation to complete the payroll roster (in $).

David Grange is married and claims 4 withholding allowances. If he is paid biweekly and earns $1,848 per period, use the percentage method to find his income tax withholding each pay period. (Use Exhibit 9-1 and Exhibit 9-2 from your text. Round your answer to the nearest cent.)

You are the payroll manager for a resort. Your daughter (Carla Boxwood) is the marketing director earning a salary of $40,800 per year, payable monthly. She is married and claims four withholding allowances. Her social security number is 555-55-5555.

In addition to federal income tax, social security, and Medicare, Carla pays 2.3% state income tax,

for state disability insurance (both based on gross earnings), $31.72 for term life insurance, $133.48 to the credit union, and $30 to the United Way.

Fill out the following payroll voucher for Carla for the month of August. (Use Exhibit 9-1 and Exhibit 9-2 from your text. Social Security Tax is 6.2% of gross wages up to $128,400. Medicare Tax is 1.45% of all gross wages. )

Payroll Voucher

Employee:

Tax Filing Status:

SSN:

Withholding Allowances:

Full-time Pay Period From to

Primary Withholdings:

Additional Withholdings:

Federal income tax

Term life

Social Security

Credit union

Medicare

United Way

State income tax

State disability

	Gross earnings:	$
	− Total withholdings:	$

	NET PAY	$

Use the combined wage bracket tables, Exhibit 9-3 and Exhibit 9-4 , to solve.

Employee	Marital Status	Withholding Allowances	Pay Period	Gross Earnings	Combined Withholding
Reese, S.	M	4	Weekly	$1,213	$

Mary earned $45,258.75 for the past calendar year. How much did she pay for the year in social security and Medicare taxes? (Social Security Tax is 6.2% of gross wages up to $128,400. Medicare Tax is 1.45% of all gross wages.)

$3,156.29$3,309.29 $3,462.29$3,844.79

Tutorial Exercise

A paving company has 24 employees, 15 with gross earnings of $335 per week and nine with gross earnings of $365 per week. What is the total social security and Medicare tax the company must send to the Internal Revenue Service for the first quarter of the year?

Step 1

Employers are required to match social security and Medicare tax payments made by employees. Social security and Medicare tax amounts depend on gross earnings, so the total gross weekly earnings for all employees must be calculated first.

There are 15 employees who receive $335 in gross earnings per week and nine who receive $365 each week. The gross earnings for a group of employees can be found by multiplying the number of employees and their respective gross earnings.

Find the gross earnings of the 15 employees who receive $335 each week.

gross weekly earnings	=	gross weekly earnings per employee ✕ number of employees
	=	335 ✕
	=	$

Find the gross earnings of the nine employees who receive $365 each week.

gross weekly earnings	=	gross weekly earnings per employee ✕ number of employees
	=	365 ✕
	=	$

The total gross weekly earnings will be the sum of the gross weekly earnings from employees earning $335 per week and the gross weekly earnings from employees earning $365 per week. Find this sum.

total gross weekly earnings = $

A paving company has 24 employees, 15 with gross earnings of $365 per week and nine with gross earnings of $385 per week. What is the total social security and Medicare tax (in $) the company must send to the Internal Revenue Service for the first quarter of the year?

Tutorial Exercise

The SUTA rate for Thomson Temp Agency is 5.4% and its FUTA rate is 6% less the 5.4% SUTA credit.

If its semimonthly payroll is $130,320 and none was for payments to employees in excess of the $7,000 wage base, then what are the total FUTA and SUTA taxes for the payroll?

Step 1

The Federal Unemployment Tax Act, FUTA, is a federal tax that is paid by employers for each employee to provide unemployment compensation to workers who have lost their jobs. There is a similar tax at the state level, SUTA. Both taxes are paid by employers, not employees.

The Thomson Temp Agency has a semimonthly payroll of $130,320, and the SUTA tax rate is 5.4%. The amount of the SUTA tax will be found by multiplying the payroll by the tax rate expressed as a decimal. Find the SUTA tax amount.

SUTA tax	=	payroll ✕ tax rate
	=	130,320 ✕
	=	$

The FUTA tax rate is credited the 5.4% SUTA tax. Thus, this will be subtracted from the original FUTA tax of 6%. The tax rate for FUTA is therefore

6% − 5.4% = %.

Convert this percentage to a decimal and multiply by the payroll to find the amount of FUTA tax.

FUTA tax	=	payroll ✕ tax rate
	=	130,320 ✕
	=	$

An appliance company has three installers. Larry earns $395 per week, Curly earns $480 per week, and Moe earns $575 per week. The company's SUTA rate is 5.4%, and the FUTA rate is 6.0% minus the SUTA. As usual, these taxes are paid on the first $7,000 of each employee's earnings.

(a)

How much SUTA and FUTA tax (in $) does the company owe for the first quarter of the year?

total SUTA tax$ total FUTA tax$

(b)

How much SUTA and FUTA tax (in $) does the company owe for the second quarter of the year?

total SUTA tax$ total FUTA tax$

National Storage employs 88 workers with a gross monthly payroll of $131,000. Fringe benefits are 8.6% of payroll for a profit sharing plan and $9.23 per employee for life insurance.

What percent of payroll is the total cost of fringe benefits? Round your answer to the nearest tenth of a percent.