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Homework answers / question archive / Maggie Vitteta, single, works 36 hours per week at $20

Maggie Vitteta, single, works 36 hours per week at $20

Accounting

Maggie Vitteta, single, works 36 hours per week at $20.00 an hour. How much is taken out for federal income tax with one withholding exemption? (Use Table 9.1 and Table 9.2) (Round your answer to the nearest cent.)

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Computation of Federal Tax with One Withholding Exemption:

Gross Pay = 36 hours*$20 = $720

Exemption = 79.8

Taxable Pay = $720 - 79.8 = $640.20

Tax = 18.3 + ($640.20 - $254)*12% = $64.64

So, Federal Tax with One Withholding Exemption is $64.64

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