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Question description

Chapter 6 Project

Sally is a shift manager at the Generic Jeans store.Sally earns \$9.85 per hour. Overtime pays time-and-a-half, and is paid for anything over 40 hours per week. As an incentive to provide good customer service, she is also paid 10% commission, with a \$1000 weekly quota on her personal sales.Because she is a shift manager, she also receives an override commission of 1% (no quota).Here is Sally’s hours, sales and returns for one week.

 M T W Th F S S Hours 7.5 7.75 8 9.25 0 10 0 Sally’s Sales \$520 \$630 \$416 \$728 \$0 \$1539 \$0 Sally’s Returns \$23 \$40 \$51 Dept Sales \$1921 \$2301 \$1799 \$2007 \$2619 \$4391 \$3204 Dept Returns \$187 \$67 \$120 \$78 \$105 \$210 \$112

Sally would like to know what percentage of her paycheck will be deducted for taxes.Your task it to calculate this percentage, by finding each of the following. You will need Sally’s W-4 (for number of allowances and marital status) and the State and Federal Income Tax Withholdings tables, which are provided.

• Regular Hourly Wages
• Overtime Hourly Wages
• Commission Wages
• Total Gross Earnings
• FICA deduction (Assume 6.2%)
• Medicare deduction (Assume 1.45%)
• Federal Income Tax Withholding (using the percentage method)
• State Income Tax Withholding (using the percentage method)
• State disability insurance (Assume 1%)
• Net Pay
• What percent of her gross earnings were deducted from her pay check?

• be typed.
• be well organized.
• contain all calculations.
• include explanations of your calculations, where your numbers come from, etc. Use complete sentences and include punctuation.

For example:

“In order to compute Sally’s regular hourly wages, I first totaled the number of hours she worked all together.

7.5 + 7.75 + 8 + 9.25 + 10 = 42.5 hours

The next step is to find the number of hours she worked of overtime.So, I ….”

The Forms needed are in the upload.

Sally’s W-4 Form: Federal Income Tax Withholding Allowance Table: Nebraska State Income Tax Withholding Allowance Table: Federal Income Tax Withholding Tables: Nebraska State Withholding Table – Percentage Method:

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