Question
An hourly employee is paid $30/hour for a 40 hour week. Overtime is paid at time-and-a-half for hours worked in excess of 40 hours. In
An hourly employee is paid $30/hour for a 40 hour week. Overtime is paid at time-and-a-half for hours worked in excess of 40 hours. In the prior week, the employee worked 48 hours. Federal income taxes of $250 were withheld, and state income taxes of $40 were withheld. FICA taxes of 6.2% (Social Security) and 1.45% (Medicare) were also withheld.
What is the weekly gross pay amount or this employee? What is the weekly net pay amount for this employee?
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Introductory Financial Accounting for Business
Authors: Thomas Edmonds, Christopher Edmonds
1st edition
1260299449, 978-1260299441
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