Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

During the first week of January, an employee work 45 hours. For this company, workers eam 150% of the regular rate for hours in excess

image text in transcribed
image text in transcribed
During the first week of January, an employee work 45 hours. For this company, workers eam 150% of the regular rate for hours in excess of 40 per week. Her pay rate is $30 per hour and her wages are subject to no deductions other than ICA Sol Security FCA Medicare, and federal income taxes. The tax ratelor Social Security 6.2% of the first $128.400 canned each calendar year and the FICA Liate for Medicate is 145 of all earnings. The current FUTA tax rate 0.6 and the SUTA trate is 5.4%Both unemployment taxes are applied to the first 57000 of an employee's pay the employee has 595 in federal income taxes withheld. What is the amount of this employees net pay for the first week of January (Round your intermedinte calculations to two decimal places) O $1,220.99 O $1.425.00 $1,315.99 $204.01 $1,629.01

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

Pioneers Of A Profession Chartered Accountants To 1879

Authors: Jas. C. Stewart

1st Edition

0367532557, 9780367532550

More Books

Students also viewed these Accounting questions

Question

Whether the board has jurisdiction to conduct an election.

Answered: 1 week ago