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    College Accounting Study Set 2
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    Exam 7: Calculating Pay and Payroll Taxes: the Beginning of the Payroll Process
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    Compute the Net Pay for Each Employee Listed Below
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Compute the Net Pay for Each Employee Listed Below

Question 6

Question 6

Essay

Compute the net pay for each employee listed below. Assume the following rates: FICA-OASDI 6.2% on a limit of $128,400; Medicare is 1.45%; federal income tax is 20%; state income tax is 5%; and union dues are $20. Compute the net pay for each employee listed below. Assume the following rates: FICA-OASDI 6.2% on a limit of $128,400; Medicare is 1.45%; federal income tax is 20%; state income tax is 5%; and union dues are $20.

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