Question
Lisa Meilo works for Pacific Company, which pays its employees time-and-a-half for all hours worked in excess of 40 per week. Meilo's pay rate is
Lisa Meilo works for Pacific Company, which pays its employees time-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, a Social Security tax deduction at the rate of 6.2 percent, and a Medicare tax deduction 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 $ per hour | ||
c. Total gross pay | $ | |
d. Federal income tax withholding | $247.30 | |
e. Social Security tax withholding at 6.2 percent | ||
f. Medicare tax withholding at 1.45 percent | ||
g. Total withholding | ||
h. Net pay | $ |
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