Exercise: Jessie Friedmans regular hourly wage rate is $16.00 per hour, and he receives 1 times his regular wage rate for hours worked in excess of 40. This is the first week of the year, and Jessie has worked 49 hours.

1. Compute Jessie's gross earnings.

2. Compute Jessies FICA withholding (assume 7.65 % rate).

3. If Jessies other deductions include Federal Income Tax of $61, State Income Tax of $22 and health insurance of $15, Calculate Jessies net pay.

4. Assume FUTA is 1%, and SUTA is 5%. Compute the companys payroll tax expense for the period.

5. What is the companys total cost of employing Jessie Friedman this week?