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Net Pay Worksheet Answers Form

Net Pay Worksheet Answers Form

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Instructions and help about gross pay 1287 50 calculate medicare tax 1 45 of gross pay

[Music] exercise 7-2 we're going to calculate gross pay and deductions for two employees compute the net pay for each employee using the federal income tax withholding table included so here's our fits table assume that Phi cos t is 6.2 percent on a wage base limit of 100 mm Medicare is 1.4 5% on all earnings payroll is paid bi-weekly and no state income tax applies of course round each computation of the nearest cent because these are deductions and we're working with currency we had to round to two decimal places compute the net pay for each employee so we've got two employees Alvin pang and Angelina Potts so what we're going to do is we're going to take this periods pay and plug it in here so we've got 1694 Alvin and 1600 for Angelina now we're going to record the deductions for each employees withholding taxes so we need to know what are the payroll taxes that employees pay so the payroll tags that employees pay are As

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