Gross Pay vs. Net Pay Answers

Lauren has gross pay of $765 and federal tax withholdings of $68. Determine Lauren's net pay if she has the additional items withheld: Social Security tax that is 6.2% of her gross pay Medicare tax that is 1.45% of her gross pay State tax that is 22% of her federal tax a. $691.52 b. $666.21 c. $636.98 d. $623.52 Please select the best answer from the choices provided

Marquis has a gross pay of $816. By how much will his gross pay be reduced if Marquis has the following items withheld?federal tax of $92Social Security tax that is 6.2% of his gross payMedicare tax that is 1.45% of his gross paystate tax that is 22% of his federal taxa.$82.66b.$129.13c.$164.01d.$174.66

A statement of an employee's biweekly earnings is given below. EarningsDeductions Week Ended Regular FED. SOC. MED STATEWITH. WITH. CARE. WITH.NET PAY9/10$_____ $98.00 $52.88 $12.37 $22.54$667.17What is the employee's gross pay?a.$818.05b.$830.42c.$840.59d.$852.96

Marilyn has a biweekly gross pay of $810 and claims 3 federal withholding allowances. Marilyn has all of the following deductions from her gross pay: federal tax from the following table Social Security tax that is 6.2% of her gross pay Medicare tax that is 1.45% of her gross pay state tax that is 21% of her federal tax Determine how Marilyn’s net pay will be affected if she increases her federal withholding allowances from 3 to 4. a. Her net pay will increase by $15.00. b. Her net

The following federal tax table is for biweekly earnings of a single person. A single person earns a gross biweekly salary of $840 and claims 5 exemptions. How will federal taxes affect his net pay? a. Federal taxes will not affect the net pay. b. Net pay will increase $11 from the gross pay. c. Net pay will decrease $11 from the gross pay. d. Net pay will decrease $13 from the gross pay. Please select the best answer from the choices provided

Juanita receives her paycheck and knows that her gross pay and federal tax are correct. Using the fact that Social Security tax is 6.2% of gross pay, Medicare tax is 1.45% of gross pay and state tax is 19% of federal tax, determine if Juanita's net pay is correct. EarningsDeductions Week Ended Regular FED. SOC. MED STATEWITH. WITH. CARE. WITH.NET PAY11/17$1,020.00 $107.00 $63.24 $14.79 $20.33$814.64Choose the true statement below.a.The net pay is correct.b.The Social Security tax is not correct.c.The Medicare tax is not correct.d.The state tax is not correct.

Use the following federal tax table for biweekly earnings of a single person to help answer the question below. Mario has gross biweekly earnings of $784.21. By claiming 1 more withholding allowance, Mario would have $13 more in his take home pay. How many withholding allowances does Mario currently claim? a. 3 b. 4 c. 5 d. 6 Please select the best answer from the choices provided

Use the tax table to help answer the following question. Luce is single and making $763 biweekly. She claims no federal withholding allowances. If the state tax is 19% of the federal tax, how much in state tax does Luce contribute? a. $12.92 b. $15.13 c. $15.77 d. $16.34 Please select the best answer from the choices provided

Chuck has a gross pay of $815.70. By how much will Chuck’s gross pay be reduced if he has the following items withheld?federal tax of $56Social Security tax that is 6.2% of his gross payMedicare tax that is 1.45% of his gross paystate tax that is 19% of his federal taxa.$73.04b.$129.04c.$235.51d.$273.38

Which of the following would affect an employee’s net pay?a.Opting out of their employer’s dental insurance plan and putting the money saved into their employer’s health insurance planb.Claiming a different number of dependents and thereby reducing their income tax withholdings c.Getting a raise and putting the extra money into a 401(k) pland.Receiving a bonus in the form of extra vacation days