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Martin Jackson receives an hourly wage rate of $20, with time-and-a-half pay for all hours worked in excess of 40 hours during a week. Payroll
Martin Jackson receives an hourly wage rate of $20, with time-and-a-half pay for all hours worked in excess of 40 hours during a week. Payroll data for the current week are as follows: hours worked, 42; federal income tax withheld, $168; social security tax rate, 6.0%; and Medicare tax rate, 1.5%. What is the net amount to be paid to Jackson, rounded to the nearest cent?
a.$627.50
b.$1,195.50
c.$860.00
d.$1,447.50
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