Gross Pay vs. Net Pay Answers

Use the following federal tax table for biweekly gross earnings of a single person to help answer the question below. Molly has biweekly gross earnings of $839.52. By claiming 1 more withholding allowance, Molly would have $16 more in her take home pay. How many withholding allowances does Molly currently claim?

Luis has a biweekly gross pay of $770 and claims 2 federal withholding allowances. Luis has all of the following deductions from his gross pay: federal tax from the following table Social Security tax that is 6.2% of his gross pay Medicare tax that is 1.45% of his gross pay state tax that is 19% of his federal tax Determine how Luis’ net pay will be affected if he increases his federal withholding allowances from 2 to 3.

A statement of an employee's biweekly earnings is given below. Earnings Deductions Week Ended Regular FED. SOC. MED STATEWITH. WITH. CARE. WITH. NET PAY 8/18 $_____ $62.00 $45.06 $10.54 $12.40 $596.80 What is the employee's gross pay?

Martha earned a gross pay of $1,215.60 last week. Using the fact that Social Security tax is 6.2% of gross pay, determine the amount of Social security tax deducted from Martha’s gross pay.

Bonnie claims single with 2 federal withholding allowances, and contributes state tax of 20% of her federal tax. Below is a copy of Bonnie's biweekly statement of earnings. Bonnie knows that her gross earnings and federal tax are correct, but she thinks that her net pay is not correct. EarningsDeductions Week Ended Regular FED. SOC. MED STATEWITH. WITH. CARE. WITH.NET PAY4/15$760.00 $50.00 $47.12 $110.20 $10.00$542.68Using the fact that Social Security is 6.2% and Medicare is 1.45% of gross pay, explain why the given net pay is not correct. Determine how the error can be corrected, and what the net pay should be.

MaryLiz claims single having no exemptions. Her state tax deduction is 18% of her federal tax contribution. Calculate the amount of state tax MaryLiz owes if her gross pay for two weeks is $800. The following federal tax table is for biweekly earnings of a single person.

The total amount of deductions from an employee’s gross pay is $97.45. If the gross pay is $423.70, what percent of their gross pay is being withheld?

Raquel has gross pay of $732 and federal tax withholdings of $62. Determine Raquel’s net pay if she has the additional items withheld:Social Security tax that is 6.2% of her gross payMedicare tax that is 1.45% of her gross paystate tax that is 21% of her federal tax

Jasmine has a gross pay of $754.80. By how much will Jasmine’s gross pay be reduced if she has the following items withheld?federal tax of $31Social Security tax that is 6.2% of her gross payMedicare tax that is 1.45% of her gross paystate tax that is 18% of her federal tax

The following federal tax table is for biweekly earnings of a single person. How will the federal tax affect a biweekly pay of $740 for a single person claiming 1 exemption?