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Compute his net pay on his November paycheck

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Question - Frances Newberry is the payroll accountant for Pack-It Services of Jackson, Arizona. The employees of Pack-it Services are paid semimonthly. An employee, Glen Riley, comes to her on November 10 and requests a pay advance of $750, which he will pay back in equal parts on the November 15 and December 15 paychecks. Glen is married with eight withholding allowances and is paid $50,000 per year. He contributes 3 percent of his pay to a 401(k) and has $25 per paycheck deducted for a Section 125 plan.

Required - Compute his net pay on his November 15 paycheck. The state income tax rate is 4 percent. Use the Wage Bracket Method Tables for Income Tax Withholding in Appendix C. (Round your intermediate calculations and final answer to 2 decimal places.)

Reference no: EM133009135

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