You are an employer, from the following information calculate the payroll and answer the following questions. Employee has turned in their time card it shows they have worked 86 hours in the last two weeks, 36 hours in week 1 and 50 hours in week 2. Employee is paid on a bi-weekly basis. The hourly rate the employee is paid is $18.00/hr. Their W4 – MN shows that the employee is married and has claimed 5 withholding allowance. Their W4 shows that the employee is married, did not check the box in step 2, has indicated $6000 in step 3 There are other after tax deductions of $30 for the pay period. 1. What is the net check amount? 2. How much Social Security should be withheld? 3. How much Medicare should be withheld? 4. How much Federal Income tax should be withheld? 5. How much State Income tax should be withheld? 6. How much should be deposited by the employer with the Federal Government for Federal Taxes? 7. How much should be deposited by the employer with the State for State taxes? 8. How much is this employee costing the employer per hour for this pay period, if FUTA was 1%, SUTA was 2%, and Workers Comp. was 4%.?
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