Marquis has a gross pay of $816. by how much will his gross pay be reduced if marquis has the following items withheld?federal tax of $92social security tax that is 6.2% of his gross paymedicare tax that is 1.45% of his gross paystate tax that is 22% of his federal tax

Respuesta :

Gross pay $816
Federal tax $92
Social security 0.062 * 816
Social security = $50.59
Medicare tax = 0.195 * 816
Medicare tax = $159.12
State tax = 0.22 * 92
State tax = $20.24
Pay after deductions = 
816 - 92 - 50.59 - 159.12 -20.21
= $494.08
Gross pay reduced by:
(816 - 494.08)/816 * 100
= %39.45
frika

Marquis has a gross pay of $816.

1. Social security tax that is 6.2% of his gross pay, find it.

$816 - 100%

$x - 6.2%

Use proportion:

[tex]\dfrac{816}{x}=\dfrac{100}{6.2},\\ \\x=\dfrac{816\cdot 6.2}{100}=\$50.592.[/tex]

2. Medicare tax is 1.45% of his gross pay, then

$816 - 100%

x - 1.45%

Use proportion:

[tex]\dfrac{816}{x}=\dfrac{100}{1.45},\\ \\x=\dfrac{816\cdot 1.45}{100}=\$11.832.[/tex]

3. State tax that is 22% of his federal tax. Federal tax is $92, so

$92 - 100%

x - 22%

Use proportion:

[tex]\dfrac{92}{x}=\dfrac{100}{22},\\ \\x=\dfrac{92\cdot 22}{100}=\$20.24.[/tex]

4. He has a gross pay of $816 and the following items withheld:

  • federal tax of $92
  • social security tax $50.592
  • medicare tax $11.832
  • state tax $20.24
  • al taxes in total $92+$50.592+$11.832+$20.24=$174.664

Answer: his gross pay will be reduced by $174.664≈$174.66.