Business, 22.03.2021 05:20 eaglesjohnson414

CHHPIER 4 y First Paycheck
B.
$
Name:
Date:
Class
'our annual salary at your new job is 5.
You are paid once a month.
a year.
Ise the following information to complete the following chart that represents your pay stub.
Write your gross monthly pay
1. Your company offers health insurance. Single
coverage is $50.00 per pay period. Married
coverage is $150.00 per pay period.
Question Description Amount
Federal Income Tax is 12.20%
A
Gross Monthly Pay $
(gross pay x 0.122 - deduction)
Health Insurance
), Social Security Tax is 6.20%
с. Federal Income Tax $
(gross pay x 0.062 = deduction),
D. Social Security
$
Medicare Tax is 1.45%
Medicare
$
(gross pay x 0.0145 = deduction)
F. State Income Tax
State Income Tax is 3.00%
(gross pay x 0.03 = deduction)
H.
i. Retirement is 7.00%
TOTAL Deductions $
(gross pay x 0.07 = deduction)
Net Pay
$
1. Calculate total deductions for the pay period.
Compute your net pay by subtracting Total
Deductions from Gross Monthly Pay. This is your take-home pay.
ill out the following paycheck for the amount of your net pay.
E.
$
G.
Retirement
$
I.
1025
19
DATE
PAY TO THE
ORDER OF
DOLLARS 02
1025
MEMO ,
10000000000 10000000000

CHHPIER 4

y First Paycheck
B.
$
Name:
Date:
Class
'our annual salary at your new job is 5.
You ar

Answers: 3

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CHHPIER 4 y First Paycheck
B.
$
Name:
Date:
Class
'our annual s...