Amounts for marias wages for current week-gross earnings

Assignment Help Business Management

Reference no: EM13721024

Maria Garza's regular hourly wage rate is $16, and she receives a wage of 1 1/2 times the regular hourly rate for work in excess of 40 hours. During a March weekly pay period, Maria worked 42 hours. Her gross earnings prior to the current week were $6,000. Maria is married and claims three withholding allowances. Her only voluntary deduction is for group hospitalization insurance at $25 per week.

a. Compute the following amounts for Maria's wages for the current week,

1. Gross earnings

2. FICA taxes (Assume a 7.65% rate on maximum of $110,100)

3. Federal income taxes withheld.

4. State income taxes withheld (Assume a 2.0% rate)

b. Record Maria's pay

Reference no: EM13721024

Questions Cloud

What is the current yield and the yield to maturity : A $1,000 zero coupon bonds sells for $519 and matures after five years. What is the current yield and the yield to maturity?

Calculate the front-end load : The World Income Appreciation Fund has current assets with a market value of $5.7 billion, 640 million shares outstanding, and a current market price quotation of $9.4. Calculate the front-end load. (Do not round intermediate calculations. Enter your..

Does the covered interest parity condition hold : Suppose that the interest rates in the U.S. and Germany are equal to 5%, that the forward (one year) value of the € is F$/€ = 1$/€ and that the spot exchange rate is E$/€ = 0.75$/€. Please answer the following questions by explaining all steps of you..

About the minimum selling price for the bond : You have just purchased a municipal bond with a $10,000 par value for $9,500. You purchased it immediately after the previous owner received a semi annual interest payment. The bond rate is 6.6% per year payable semi annually.

Amounts for marias wages for current week-gross earnings : Maria Garza's regular hourly wage rate is $16, and she receives a wage of 1 1/2 times the regular hourly rate for work in excess of 40 hours. During a March weekly pay period, Maria worked 42 hours. Her gross earnings prior to the current week were $..

The riskier stock exceed that on the less risky stock : Stock R has a beta of 1.2, Stock S has a beta of 0.40, the expected rate of return on an average stock is 12%, and the risk-free rate is 6%. By how much does the required return on the riskier stock exceed the required return on the riskier stock exc..

Graphic designer needs laptop for audio and video editing : A graphic designer needs a laptop for audio/video editing, and notices that they can elect to pay $2900 for a Dell XPS laptop, or lease from the manufacturer for monthly payments of $79 each for four years. The designer can borrow at an interest rate..

How much was the firms earnings before taxes : Brown Office Supplies recently reported $18,500 of sales, $8,250 of operating costs other than depreciation, and $1,750 of depreciation. It had $9,000 of bonds outstanding that carry a 7.0% interest rate, and its federal-plus-state income tax rate wa..

What is the value of an investment that pays : What is the value of an investment that pays $54,000 every other year forever, if the first payment occurs one year from today and the discount rate is 18 percent compounded daily?

User Account

All Pages