Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

John David has a regular hourly wage of $18 per hour. His overtime pay rate is time and a half. The FICA tax rate is

John David has a regular hourly wage of $18 per hour. His overtime pay rate is time and a half. The FICA tax rate is 7.65 %. John gets paid every two weeks . For the first payroll period in January , John worked 84 hours of which 4 were overtime hours. John's federal income tax withholding is $420 and his state income tax withholding is $180. John has asked that $60 be withheld from his paycheck for savings bonds. What is John's Overtime rate per hour ?
What is Johns gross pay for the 2 week period?
What is Johns net pay for the 2 week period?

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

Internal Auditors Manual And Guide The Practitioners Guide To Internal Auditing

Authors: Milton Stevens Fonorow

1st Edition

0134711947, 978-0134711942

More Books

Students also viewed these Accounting questions