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amm1812
3 years ago
9

Patrick patrone (single, 2 allowances), $925 wages __________ carson leno (married, 4 allowances), $1,195 wages __________ carli

lintz (single, 0 allowances), $700 wages __________ gene hartz (single, 1 allowance), $2,500 wages __________ mollie parmer (married, 2 allowances), $3,600 wages __________
Business
1 answer:
Furkat [3]3 years ago
6 0

<u>Solution and Explanation:</u>

1) P<u>atrick patrone </u>

Single and 2 allowances =\$ 925-\$ 155.80-\$ 155.80=\$ 613.40

It falls under the category of Over $509 but under $1,631

The amount of income tax that he withholds is $36.70 + 12% of excess over $509

\$ 36.70+12 \%(\$ 613.40-\$ 509)=\$ 36.70+12 \% \text { of } \$ 104.40=\$ 36.70+\$ 12.53=\$ 49.23

The amount to withhold for Federal income tax is $49.23.

2) <u>Carson Leno, married and 4 allowances </u>

= $1,195 - $155.80 - $155.80 - $155.80 - $155.80 = $571.80

The wages falls under the category of Over $444 but under $1,177.

The amount of income tax that he withholds is $0 + 10% of excess over $444.

\$ 0+10 \%(\$ 571.80-\$ 444)=\$ 0+10 \% \text { of } \$ 127.20=\$ 0+\$ 12.72=\$ 12.72

The amount to withhold for Federal income tax is $12.72

3) Carli lintz single, zero allowances and wages is $700.

$700 - $0 = $700 (zero allowance)

The wages falls under the category of Over $509 but under $1631.

The amount of income tax to withhold is $36.70 + 12% of excess over $509

\$ 36.70+12 \%(\$ 700-\$ 509)=\$ 36.70+12 \% \text { of } \$ 191 .=\$ 36.70+\$ 22.92=\$ 59.62

The amount to withhold for Federal income tax is $59.62.

4) Gene hartz. Single, 1 allowance and $2,500 wages.

$2,500 - $155.80 = $2,348.20

The wages fall under the category of Over $1,631 but under $3,315

The amount of income tax to withhold is $171.34 + 22 % of excess of $1,631 \begin{aligned}&\$ 171.34+22 \%(\$ 2348.20-\$ 1631)=\$ 171.34+22 \% \text { of } \$ 717.20 .=\$ 174.34+\$ 157.78=\\&\$ 332.12\end{aligned}The amount for Federal income tax is $332.12

5) Mollie Parmer. Married, 2 allowances and wages is $3,600

\$ 3,600-\$ 155.80-\$ 155.80=\$ 3,288.40

The wages falls under the category of Over $1,177 but under $3,421

The amount of income tax to withhold is $\$ 73.30+12 \%$ of excess over $\$ 1,177$ \begin{aligned}&\$ 73.30+12 \% \text { of }(\$ 3,288.40-\$ 1,177) .=\$ 73.30+12 \% \text { of } \$ 2,111.40 .=\$ 73.30+\$ 253.37=\\&\$ 326.67\end{aligned}The amount for Federal income tax is $326.67.

<u>NOTE :</u> - the withholding allowance is deducted from the wages, the amount of single allowance is $155.80.

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Answer and Explanation:

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Particulars   Budget Actual Difference  

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Total variable costs  $35,200 $38,700 $3,500 U  

Fixed costs      

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Depreciation           $6,000 $6,000      0  N  

Prop.taxes & insurance $7,400 $8,700 $1,300 U  

Maintenance          $5,000 $5,000    0         N  

total fixed costs  $55,400 $56,700 $1,300 U  

total costs          $90,600 $95,400 $4,800 U  

b. For Manufacturing overhead Responsibility Report  

Particulars                Budget      Actual Difference  

Controllable costs      

Indirect materials   $11,300              $14,600 $3,300 U  

indirect labor    $10,800      $9,400 $1,400 F  

Utilities     $7,200               $9,600 $2,400 U  

Maintenance   $10,900               $10,100 $800 F  

Supervisory salaries $37,000       $37,000   0         N  

total costs     $77,200       $80,700 $3,500 U

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