Given: Payroll is prepared biweekly. An hourly custodial employee completes a timesheet. Employees hourly rate is $10.00/hour.

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Given:

Payroll is prepared biweekly.

An hourly custodial employee completes a timesheet.

Employee’s hourly rate is $10.00/hour.

In a two-week period, employee’s hours worked total 86 (48 hours in week 1 and 38 hours in week 2).

Contract states that any hours over 40 hours per week are overtime ($15.00/hour).

The employee is eligible for the retirement system (employee rate, 4.5 percent).
Federal tax rate is 12 percent.
State tax rate is 3 percent.
Social security tax rate is 7.65 percent.
Union dues are $16.09 per pay.
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Financial Accounting For School Administrators Tools For School

ISBN: 9781610487719

3rd Edition

Authors: Ronald E. Everett, Donald R. Johnson, Bernard W. Madden

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