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An employee receives an hourly rate of $15, with time and a half for all hours worked in excess of 40 during the week. Payroll
An employee receives an hourly rate of $15, with time and a half for all hours worked in excess of 40 during the week. Payroll data for the first week of the calendar year are as follows: hours worked, 46; federal income tax withheld, $110; Social security tax rate, 6\%; and Medicare tax rate, 1.5\%; state unemployment compensation tax, 3.4\% on the first $7,000; federal unemployment compensation tax, 0.8% on the first $7,000. What is the net amount to be paid to the employee? If required, round your answers to the nearest cent. A. $539.00 B. $569.87 C. $625.00 D. $544.88
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