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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540 Exercise 163
Use the percentage method of withholding, a FICA rate of 6.2%, a Medicare rate of 1.45%, an SDI rate of 1%, and a state withholding tax of 3.4% in this problems.
TRAVEL-AGENCY SALES Scott Salman, a travel agent, is paid on a variable commission, is married, and claims four withholding allowances. He receives 3% of the first $20,000 in sales, 4% of the next $10,000 in sales, and 6% of all sales over $30,000. This week he has sales of $45,550 and this deductions: FICA, Medicare, federal withholding, state disability insurance, state withholding, a retirement contribution of $45, a savings bond of $50, and charitable contributions of $20. Find his net pay after subtracting all of his deductions. ___________
TRAVEL-AGENCY SALES Scott Salman, a travel agent, is paid on a variable commission, is married, and claims four withholding allowances. He receives 3% of the first $20,000 in sales, 4% of the next $10,000 in sales, and 6% of all sales over $30,000. This week he has sales of $45,550 and this deductions: FICA, Medicare, federal withholding, state disability insurance, state withholding, a retirement contribution of $45, a savings bond of $50, and charitable contributions of $20. Find his net pay after subtracting all of his deductions. ___________
Explanation
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This sales employee is paid an increment...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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