Question
Determine thegross payfor eachemployeelisted below. When necessary, round intermediate calculations and the final answer to the nearest cent. Nicole Smith's yearly salary is $95,500. During
Determine thegross payfor eachemployeelisted below. When necessary, round intermediate calculations and the final answer to the nearest cent.
- Nicole Smith's yearly salary is $95,500. During the week, she worked 46 hours, and she is entitled to time-and-a-half for all hours over 40.
Determine thegross payfor eachemployeelisted below. When necessary, round intermediate calculations and the final answer to the nearest cent.
- Clay Jones is paid time-and-a-half for all hours over 40. He worked 46 hours during the week. His regular pay rate is $15.80 per hour.
- Mary James worked 41 hours during the week. She is entitled to time-and-a-half for all hours in excess of 40 per week. Her regular pay rate is 25.00 per hour.
- Lori Terry is paid a commission of 7 percent of her sales, which amounted to $19,240.00.
- Nicole Smith's yearly salary is $66,560.00. During the week, Smith worked 44 hours, and she is entitled to time-and-a-half for all hours over 40.
Lisa Meilo works for Pacific Company, which pays itsemployeestime-and-a-half for all hours worked in excess of 40 per week. Meilo's pay rate is $37 per hour. Her wages are subject to federal income tax, aSocial Security taxdeduction at the rate of 6.2 percent, and aMedicare taxdeduction at the rate of 1.45 percent. She is married and claims three allowances. Meilo has an unpaid half-hour lunch break during an 8-hour day. In the most recent pay period, she worked 50 hours. Meilo's beginning cumulative earnings are $73,654.
Complete the following. If required, round all intermediate calculations and answers to the nearest cent, use rounded answers in subsequent computations
a._____ hours at straight time $____ per hour = _____
b. ______ hours overtime x $__ per hour = _____
c. Totalgross pay _____
d. Federal income tax withholding _______
e. Social Security tax withholding at 6.2 percent ______
f. Medicare tax withholding at 1.45 percent _______
g. Total withholding __________
h.Net pay_________
Lisa Meilo works for Pacific Company, which pays itsemployeestime-and-a-half for all hours worked in excess of 40 per week. Meilo's pay rate is $41.00 per hour. Her wages are subject to federal income tax, aSocial Security taxdeduction at the rate of 6.2 percent, and aMedicare taxdeduction at the rate of 1.45 percent. She is married and claims three allowances. Meilo has an unpaid half-hour lunch break during an 8-hour day. In the most recent pay period, she worked 42 hours. Meilo's beginning cumulative earnings are $77,080.
Complete the following. If required, round all intermediate calculations and answers to the nearest cent, use rounded answers in subsequent computations.
a._____ hours at straight time $____ per hour = _____
b. ______ hours overtime x $__ per hour = _____
c. Totalgross pay _____
d. Federal income tax withholding _______
e. Social Security tax withholding at 6.2 percent ______
f. Medicare tax withholding at 1.45 percent _______
g. Total withholding __________
h.Net pay_________
Using the income tax withholding table inFigure 3, for eachemployeeof Miller Company, determine thenet payfor the week ended January 21. Assume aSocial Security taxof 6.2 percent and aMedicare taxof 1.45 percent. All employees have cumulative earnings, including this pay period, of less than $118,500. Assume that all employees are married. If required, round your answers to the nearest cent and use the rounded answers in subsequent computations. (see chart)
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