BUSINESS MATH Exam IContinued 2 Eric is puid biweekly asa co

BUSINESS MATH Exam I-Continued 2. Eric is puid biweekly asa computer programmer. His group medical insurance costs s6.550 er pays 0% of the cost. How much is deducted from each of Eric\'s paychecks for medical insurance? 240 3 ary is a website designer who earns sie per hour. Het id weekly, and this week exemptions, worked 30 hours. The state tax is who is single and claims one allowance but no of his ross earnings and the local tax is 2 af gross earnings, Gary\'s weekly deductions include 23 for medical has not yet earned S00 The 6.29 and is paid on the first 500 of income, Gary gs. Complete Gary\'s statement of earnings Medicare tax rate is 1A5% and applies to all earni below using the ormation in this paragraph and the chart in question 8 Dept Employee Check No. Net Pay S Medicare State T Local e, Scotty spent S194 putting gas into his car. Additionally, gas for his car cost Scotty S229 n and S183 in August. What was Scotty\'s average monthly expenditure on gas for ng his

Solution

Deduction = 80% of insurance amount = 0.8 * medical amount

So, per year deduction = 0.8* 6550 = 5240 $

So per paycheck deduction = 5240 / nos of paycheck per year = 5240 / 26 = 202$

2.

weekly earning gross = 30 * 16 = 480$

deduction

state tax 3% = 480*0.03 = 14.4$

local tax 2% = 480*0.02 = 9.6$

medical insurance = 25$

union due = 20$

Medicare tax 1.45% = 480*00145 = 6.96$

Social Security is not to be deducted due to first 97500$ income.

net income =480 - 14.4 - 9.6 - 25 - 20 - 6.96 = 404.04$

3.

avg. = (194+229+183)/3 = 606/3 =202$