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1. Assume you work for a company in sales and therefore are entitled to not only hourly pay, but commission and bonus as well. You
1. Assume you work for a company in sales and therefore are entitled to not only hourly pay, but commission and bonus as well. You work 40 hours in a payroll week. Calculate your gross pay for your company if you make $x per hour (you select your rate!), earn a 5% bonus (of gross pay), and earn 10% commission (of gross pay).
2. Unfortunately, you do not get to keep all your Gross Pay. Assuming you have the following withholding deductions taken out of your pay, now calculate your Net Pay.
Withholding deductions: | |
Employee income tax (20%) | |
Employee OASDI tax (see book for how to calculate) | |
Employee Medicare tax (1.45%) | |
Employee health insurance | 75 |
Employee contribution to United Way | 20 |
Total withholdings: |
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