Question

Note: In this chapter and in all succeeding work throughout the course, unless instructed otherwise, use the following rates, celing, and maximum taxes. Employee and Employer OASDI: 6.20% $128,400 $7,960.80 Employee" and Employer HI: 1.45% No limit No maximum Self-employed OASDI: 12.4% $128,400 $15,921.60 Self-employed HI: 2.9% No limit No maximum 1. Carry the hourly rate and the overtime rate to 3 decimal places and then round off to 2 decimal places (round the hourly rate to 2 decimal places before multiplying by one and one-half to determine the over- time rate). 2. If the third decimal place is S or more, round to the next higher cent. 3. If the third decimal place is less than 5, simply drop the third decimal place. Examples: Monthly rate $1,827 Weekly rate ($1,827 x 12)/52- $421.615 rounded to $421.62 Hourly rate $421.62/40- $10.540 rounded to $10.54 O.T. rate $10.S4 x 1.5 $15.81 Also, use the minimum hourly wage of $7.25 in solving these problems and all that follow. "Employee HI: Plus an additional 0.9% on wages over $200,000. Also applicable to self-employed.

Answer 1

for November to is OASDI Pau @624 ie of month HI Designation Annual OASDI HI Tano 1-457. President 15200 5350 (128400 x 0 5/0 331.70 5350x6:2% 6300 (151200x05) 91.35 6300 xt 45%. 331-20 ve finauce 5350 132000 5500 (132000x on 79.75 (5500 x 1.45%) ve 2900 6960 saly 290 (69600 XO: 179.80 2900x6.27 H2.05 2900 X 1.45% 2250 VIP mg 54000 2250 54000 X 0.52 139.50 2250x6:27. 32.63 2250 x 45% 2150 ve pusonnel 51600 2150 51600x O2 133.30 21508624. 31.18 2150 x 1:45%. 2050 ve Secretary 49200 2050 49200 ( 27.10 2030X 6.2% 29.73 2000x145x December 31 = 1.5 monthy December 31 ie November 16 to to above calculation. - 3 times 18900 274.05 .995.10 16000 President 15/20 16050 ve finance 995.10 16500 29.25 8700 539.40 126.15 132000 69600 54000 8700 Ve sales ve mig. 418.50 670 6750. 97.88 6450 399.90 93.53 6450 UP personinel l secretary 5160 49200 6150 381.30 6150 89.18 CHEMISTRY THAT MATTERS I