Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

An employees hourly rate is $25, with time-and-a-half for hours over 40 hours. FICA is withheld at the rate of 8%, federal income tax withholding

An employees hourly rate is $25, with time-and-a-half for hours over 40 hours. FICA is withheld at the rate of 8%, federal income tax withholding is 15% and state income tax is withholding is 3%. Which of the following is the employee's net pay if the employee worked 45 hours this week? Round to the nearest dollar.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Karen W. Braun, Wendy M. Tietz

5th edition

134128524, 978-0134128528

More Books

Students also viewed these Accounting questions

Question

identify the major consequences of burnout, boredom and engagement;

Answered: 1 week ago