Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Jenny has cumulative earnings to date of $40,500. She worked 48 hours this pay period and is entitled to overtime based on FLSA. What is

image text in transcribed
Jenny has cumulative earnings to date of $40,500. She worked 48 hours this pay period and is entitled to overtime based on FLSA. What is her gross pay and net pay this pay period? Assume her regular rate of pay is $30 per hour; FICA-SS is 6.2%, FICA-Medicare is 1.45%, Fed Tax is 20%, and State tax is 10%. Overtime (if any) is paid at time and a half. Gross pay is $972.66; Net pay is $1,560. Gross pay is $1,440; Net pay is $852.66. O None of the choices are correct. Gross pay is $1,560; Net pay is $1,128.66. Gross pay is $1,560; Net pay is $972.66

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_2

Step: 3

blur-text-image_3

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

The Chief Value Officer Accountants Can Save The Planet

Authors: Mervyn King, Jill Atkins

1st Edition

1783532939, 978-1783532933

More Books

Students also viewed these Accounting questions

Question

Explain the forces that influence how people handle conflict

Answered: 1 week ago