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Mathematics for Business and Personal FinanceChapter?2: Net IncomeTests1Melanie Yashin's gross pay for this week is $355.00. She is married and claims no allowances. According to the table below, what amount will be withheld for FIT?A)21B)20C)18D)142Gabriel McKernan, a radio announcer, is married, earns $368.23 weekly, and claims 3 allowances. According to the table below, what amount will be withheld for FIT?A)14B)8C)7D)63Mitch Hart's gross pay for this week is $425.78. He is single and claims 2 allowances. Using the percentage method of withholding, what amount will Mitch's employer withhold from his pay for federal income tax?A)$24.79B)$29.98C)$63.87D)$78.274Donna Forrester's gross pay is $72,500 a year. The state income tax is 3% of taxable wages. Donna takes a married exemption of $4,000 for herself and her husband. How much is withheld from her gross earnings for state income tax for the year?A)$2,295B)$2,175C)$2,055D)$1,9355Anton McRainy's gross pay as a landscape designer is $52,375 a year. The state income tax rate is 3% of taxable wages. Anton takes a married exemption of $4,000 and $2,000 for his child. How much does Anton's employer withhold yearly from his gross earnings for state income tax?A)$1,571.25B)$1,451.25C)$1,391.25D)$1,271.256ALGEBRA Drew Chow has an annual salary of $110,250. He is married with no dependents. The married exemption for his state is $4,000. He pays $2,656.25 in state income taxes. What is the state income tax rate?A)3.0%B)2.75%C)2.5%D)2.4%7Serita Deloy's annual salary is $72,500. Her personal exemptions total $6,000. How much is deducted annually for state income tax?A)$3,625B)$3,325C)$3,240D)$3,0758Warren Anderson's annual salary is $54,500. He receives his pay monthly. His exemptions total $4,000. Use the table below to determine how much his employer deducts for state income tax from each of his monthly paychecks.A)$2,725B)$2,525C)$2,440D)$2,2759Charles Stickley's gross weekly pay is $915. His earnings to date for the year total $21,045. What amount is deducted weekly for Social Security taxes?A)$13.27B)$54.90C)$56.73D)$70.0010Tomas Gomez's gross weekly pay is $675. His earnings to date for this year total $15,525. What amount is deducted weekly for Social Security taxes?A)$37.02B)$41.85C)$80.21D)$962.5511Rachel Anderson's gross biweekly pay as a quality control inspector is $812. Her earnings to date for the year total $32,435. What amount does her employer deduct from her pay for Medicare taxes?A)$50.34B)$12.18C)$11.77D)$10.9812Carrie Ambrose has family medical coverage through her employer's group medical plan. The annual cost of Carrie's plan is $14,800. If her employer pays 75% of the cost, how much does Carrie have to pay per year?A)$11,100B)$3,700C)$2,200D)$1,15013Olga Bonita is a nutritionist. She has family medical coverage through her employer. The annual cost of Olga's family membership is $10,800. The company pays 70% of the cost. How much does she have deducted from her biweekly paycheck for medical insurance?A)$290.77B)$145.38C)$124.62D)$118.3614ALGEBRA Carmen Toreii pays $212.35 per month for his group medical insurance. His employer pays 65% of the cost. How much is the annual premium for Carmen's health insurance?A)$9,221.23B)$7,280.57C)$5,165.46D)$3,920.3115Lonnie Flanagan's weekly gross pay is $1,250. Each week she has $64.37 in deductions, plus state tax of 2% of her gross pay, Social Security taxes of 6.2%, and Medicare taxes of 1.45%. What is her net pay?A)$1,058.79B)$1,065.00C)$1,075.12D)$1,435.0016Juan Moore's gross weekly salary is $800.00. He is married and claims 3 allowances. His federal income tax deduction is $53. The Social Security tax is 6.2%. The Medicare tax is 1.45% of gross pay. The state tax is 1.5% of gross pay. Each week he has $28.40 deducted for medical insurance and $12.00 for a health savings account. What is Juan's net pay?A)$683.00B)$645.40C)$645.00D)$633.4017ALGEBRA The deductions from Richard Black's monthly pay are federal income tax of $112, state income tax of 2.5%, city income tax of 1.5% of gross, Social Security, and Medicare. His monthly net pay is $3,825.16. Find Richard's monthly gross pay.A)$4,621.32B)$4,456.32C)$4,342.00D)$4,329.5518Dennis Haus earns $47,000 per year as a business manager. His exemptions include himself, his wife, and their daughter. The state tax rate in his state is 4.5% of taxable income. Find the state tax withheld using the following figure. A)$2,115.00B)$1,980.00C)$1,912.50D)$1,777.5019Cassandra Lu earns $312.80 a week. Her pay to date this year totals $10,009.60. The Social Security tax rate is 6.2% of the first $97,500.00 earned. The Medicare tax is 1.45% of gross pay. How much are her paycheck deductions this week for Social Security and Medicare tax?A)$25.02B)$23.93C)$19.39D)$4.5420Keisha Williams earns $1,120 a week. Her medical insurance costs $7,400 per year. Her company pays 65% of its cost. How much are her paycheck deductions each week for medical insurance?A)$92.50B)$52.15C)$50.23D)$49.81 ................
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