contestada

A sales clerk'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 $250.00 Commission $1040.66 Retirement-5% of gross pay 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 Taxes: (a) Find the gross pay. (b) Find the amount of federal withholding. (Round your answer to the nearest cent.) (c) Find the take-home pay. (Round your answer to the nearest cent.)

Respuesta :

pmdislamabad

Answer:

a) Gross pay = salary+commission=1290.66

b) Federal withholding 25% of gross pay= 323

c) Take home pay=727.3

Step-by-step explanation:

Gross pay = salary+commission=250.00+1040.66=1290.66

5% of gross pay= 5/100×1290.66=64.533

State 5% of gross pay = 5/100×1290.66=64.533

Local 1% of gross pay = 1/100×1290.66 =12.9066  

Medicare 7.65% of gross pay = 7.65/100×1290.66=98.73549

a) Gross pay = salary+commission=250.00+1040.66=1290.66

b) Federal withholding 25% of gross pay = 25/100× 1290.66= 322.665=323

c) Take home pay = Gross pay -5% of gross pay-State 5% of gorss pay -Local 1% of gross pay-Federal withholding 25% of gross pay-Medicare 7.65% of gross pay=1290.66 -64.533-64.533-12.9066  -322.665-98.73549-322.665=727.28691=727.3

Otras preguntas