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An employee receives an hourly rate of $30, with time and a half for all hours worked in excess of 40 during a week.Payroll data
An employee receives an hourly rate of $30, with time and a half for all hours worked in excess of 40 during a week.Payroll data for the current week are as follows: hours worked, 48; federal income tax withheld, $300; cumulative earnings for year prior to current week, $90,700; social security tax rate, 6.0% on maximum of $100,000; and Medicare tax rate, 1.5% on all earnings.What is the net amount to be paid to the employee?
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