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(40x18 ) + 4x18x1.5 = 59) During the first week of January, an employee works 44 hours. For this company, workers earn 1.5 times their
(40x18 ) + 4x18x1.5 = 59) During the first week of January, an employee works 44 hours. For this company, workers earn 1.5 times their regular rate for hours in excess of 40 hours per week. Her pay rate is $18 per hour and her wages are subject to the following deductions: a) FICA Social Security at 6.2% of gross pay b) FICA Medicare at 1.45% of gross pay c) FUTA tax at 0.6% of gross pay d) SUTA tax at 5.4% of gross pay. e) Federal income tax of $85 f) State income tax of $25 828 x6.2%) = $51.34 1.45% X 826) = 12.01 Complete the following table, by computing the gross pay, the necessary taxes and the net pay. Gross Pay FUTA SUTA FICA SS FICA Medicare NET Pay Current Hours 40 Overtime- 4 Total FIT SIT $85 $25
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