5. Find the number of regular hours, overtime hours (any hours over 40), overtime rate, earnings at regular rate, earnings at overtime rate, and gross earnings for each employee. O.T. Earnings at Earnings at Gross Rate Reg. Rate O.T. Rate Earnings Employees MTWTF Reg. 0.1. Reg. Hrs. Hrs. Hrs. R Hrs. Rate Callahan, 10617 8 0 |10|0| 9.30 Zalocha, T917 80 90 11 10.40 Sullivan, P 8 8 8 9.80 Barrett, Z79 10100 1801 Trevor, C9 100 19 61014 T 8.90 8.85 6. Find the regular earnings, overtime earnings, gross earnings, federal withholding tax using the wage bracket method (use marital status and number of allowances shown next to the employees name), FICA (Social Security tax), (6.2%), Medicare tax, (1.45%), and state disability insurance deduction (1%) for each of the following employees. Assume that no employee will have earned more than the FICA or SDI maximum at the end of the current pay period. Assume time and a half is paid for any overtime in a 40-hour week. If the employee does not earn enough to be on the tax table, they have no federal tax withheld. Employee Hours Regular Regular Overtime Gross Fed Worked Rate Earnings Earnings Earnings | Tax FICA | Med SDI Net icare Pay Tax $9.22 Sullivan 43.5 M2 Smith S1 42 Way M0 41 White S1 40 Camp S 239 $9.52 $9.39 $8.50 $9.78 7. All-Star Sports Store decided that they would remodel so they could offer a wider variety of sporting equipment. To remodel the store, they would need to borrow $18,000 for 2 1/2 years at 5.25% interest from the bank. Find the interest due on the loan and the maturity value. Interest $ Maturity Value $ 5. Find the number of regular hours, overtime hours (any hours over 40), overtime rate, earnings at regular rate, earnings at overtime rate, and gross earnings for each employee. O.T. Earnings at Earnings at Gross Rate Reg. Rate O.T. Rate Earnings Employees MTWTF Reg. 0.1. Reg. Hrs. Hrs. Hrs. R Hrs. Rate Callahan, 10617 8 0 |10|0| 9.30 Zalocha, T917 80 90 11 10.40 Sullivan, P 8 8 8 9.80 Barrett, Z79 10100 1801 Trevor, C9 100 19 61014 T 8.90 8.85 6. Find the regular earnings, overtime earnings, gross earnings, federal withholding tax using the wage bracket method (use marital status and number of allowances shown next to the employees name), FICA (Social Security tax), (6.2%), Medicare tax, (1.45%), and state disability insurance deduction (1%) for each of the following employees. Assume that no employee will have earned more than the FICA or SDI maximum at the end of the current pay period. Assume time and a half is paid for any overtime in a 40-hour week. If the employee does not earn enough to be on the tax table, they have no federal tax withheld. Employee Hours Regular Regular Overtime Gross Fed Worked Rate Earnings Earnings Earnings | Tax FICA | Med SDI Net icare Pay Tax $9.22 Sullivan 43.5 M2 Smith S1 42 Way M0 41 White S1 40 Camp S 239 $9.52 $9.39 $8.50 $9.78 7. All-Star Sports Store decided that they would remodel so they could offer a wider variety of sporting equipment. To remodel the store, they would need to borrow $18,000 for 2 1/2 years at 5.25% interest from the bank. Find the interest due on the loan and the maturity value. Interest $ Maturity Value $
