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Thread: Find new salary: Sue is paid salary of ​$440/week plus 7​% of all sales over $5000.

  1. #1
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    Find new salary: Sue is paid salary of ​$440/week plus 7​% of all sales over $5000.

    Sue Tomlin is paid a salary of ​$440 per week plus 7​% of all sales over​ $5000. She is single and claims two withholding allowances each one at $70.19 . Her deductions include​ FICA, Medicare, federal​ withholding, state disability​ insurance, state​ withholding, credit union savings of ​$50​, a Salvation Army contribution of ​$10​, and dues of ​$15 to a professional sales association. Find her net pay for a week in April during which she has sales of ​$12,938.00 with returns and allowances of ​$417.58. Use the percentage method of​ withholding, a FICA rate of 6.2​%, a Medicare rate of 1.45​%, an SDI rate of 1​%, and a state withholding tax of 3.4​%.


    I think I have to remove the allowances of 417.58 from the 12,938.00 = 12520.20 then multiply new number by the .07 = 876.4294 round up = 876.43 then add new number to the 440.00 =1316.43 then subtract 2 (70.19) = 140.38 which gives our new salary 1316.43 to compare to the next table
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    Last edited by Gijoefan1975; 03-06-2018 at 10:01 PM.

  2. #2
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    Quote Originally Posted by Gijoefan1975 View Post
    Sue Tomlin is paid a salary of ​$440 per week plus 7​% of all sales over​ $5000. She is single and claims two withholding allowances each one at $70.19 . Her deductions include​ FICA, Medicare, federal​ withholding, state disability​ insurance, state​ withholding, credit union savings of ​$50​, a Salvation Army contribution of ​$10​, and dues of ​$15 to a professional sales association. Find her net pay for a week in April during which she has sales of ​$12,938.00 with returns and allowances of ​$417.58. Use the percentage method of​ withholding, a FICA rate of 6.2​%, a Medicare rate of 1.45​%, an SDI rate of 1​%, and a state withholding tax of 3.4​%.


    I think I have to remove the allowances of 417.58 from the 12,938.00 = 12520.20 then multiply new number by the .07 = 876.4294 round up = 876.43 then add new number to the 440.00 =1316.43 then subtract 2 (70.19) = 140.38 which gives our new salary 1316.43 to compare to the next table


    So what is answer to the question - Find her net pay for a week in April ?
    “... mathematics is only the art of saying the same thing in different words” - B. Russell

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    Quote Originally Posted by Denis View Post
    I think this can be simplified (and made clearer!) this way:

    Sue Tomlin is paid a salary of ​440 per week plus 7​% of all sales over​ $5000 during the week.
    She is single and claims a withholding allowance of $140.38.
    Her deductions include​ FICA, Medicare, federal​ withholding, state disability​ insurance, and state​ withholding.
    Also deducted is $​75 (credit union savings).****
    Find her net pay for a week during which she has sales of ​$12,938.00 with returns and allowances of $​417.58.
    Use the percentage method of​ withholding, a FICA rate of 6.2​%, a Medicare
    rate of 1.45​%, an SDI rate of 1​%, and a state withholding tax of 3.4​%.

    ****You can forget about this one while doing the net pay calculation:
    just deduct it after everything else is done.

    Agree?

    agreed times X2 I think it will work better here so if your cool with it I will look for your help here so I am not taking up more of your time? Thanks for being so helpful and so kind!!!

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    Quote Originally Posted by Subhotosh Khan View Post


    So what is answer to the question - Find her net pay for a week in April ?
    yep that is the question...but I am off by a certain number, and I couldn't figure out and still cannot figure out why...

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