Assume a tax rate of 6.2% on $128,400 for Social Security and 1.45% for Medicare. No one will reach the maximum for FICA. Complete the following payroll register. (Use the percentage method to calculate FIT for this weekly period.)

Claimed 4 allowances at a rate of $76.90 per allowance for weekly payroll.

Taxable income is therefore;

= 3,500 - (76.90 * 4 )

= $‭3,192.4‬0

Federal Income Tax (FIT).

With taxable income of $‭3,192.4‬0, Pat falls into the $3,073 to $4,597 bracket where tax is $565.15 plus 28% of anything above $‭3,073. Status is married.

= 565.15 + (28% * (‭3,192.4‬0 - 3,073))

= 565.15 + 33.43

= $‭598.58

Social Security

= Gross pay * 6.2%

= 3,500 * 6.2%

= $‭217‬

Medicare

= 3,500 * 1.45%

= $‭50.75‬

Net Pay

= 3,500 - 598.58 - 217 - 50.75

= $‭2,633.67‬

180

step-by-step explanation:

7. d. 64

8. i. 32

9. c. 125

10. j. none of the above

11. d. 81

12. i. 216

13. e. none of the above

14. g. 240

15. e. none of the above

16. g. 32

17.   e. none of the above