An employee's rate of pay is $20 per hour, with time and a half for all hours

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An employee's rate of pay is $20 per hour, with time and a half for all hours worked in excess of 40 during a week. The social security rate is 6.0% on the first $80,000 of annual earnings, and the Medicare rate is 1.5% on all earnings. The following additional data are available: LO2 Hours worked during current week 45 Year's cumulative earnings prior to current week $79,400 Federal income tax withheld $212 Based on these data, the amount of the employees net pay for the current week is:
A. $620.50 C. $666.75 B. $6^1.50 D. $687.75

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Accounting

ISBN: 9780324025422

20th Edition

Authors: Carl S. Warren, James M. Reeve, Philip E. Fess

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