Question
Assume that the payroll records of Concord Oil Company provided the following information for the weekly payroll ended November 30, 2020. Employee Hours Worked Hourly
Assume that the payroll records of Concord Oil Company provided the following information for the weekly payroll ended November 30, 2020.
Employee | Hours Worked | Hourly Pay Rate | Federal Income Tax | Union Dues | Year-to-Date Earnings Through Previous Week | |||||
---|---|---|---|---|---|---|---|---|---|---|
T. King | 44 | $62 | $442 | $9 | $133,900 | |||||
T. Binion | 46 | 27 | 97 | 5 | 23,200 | |||||
N.Cole | 40 | 32 | 148 | 5,700 | ||||||
C. Hennesey | 42 | 37 | 230 | 7 | 49,500 |
Additional information: All employees are paid overtime at time and a half for hours worked in excess of 40 per week. The FICA tax rate is 7.65% for the first $132,900 of each employee's annual earnings and 1.45% on any earnings over $132,900. The employer pays unemployment taxes of 6.0% (5.4% for state and .6% for federal) on the first $7,000 of each employee's annual earnings.
CONCORD OIL COMPANY Payroll Register For the Week Ending November 30, 2020 | ||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Earnings | Deductions | |||||||||||||||
Employee | Total Hours | Regular | Overtime | Gross Pay | FICA | Federal Income Taxes | Union | Net Pay | ||||||||
T.King | 44 | $enter a dollar amount | $enter a dollar amount | $enter a dollar amount | $enter a dollar amount | $enter a dollar amount | $enter a dollar amount | $enter a dollar amount |
For some reason I am getting the wrong answer for this person only. If someone can please clarify
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