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Quiz Company is preparing the payroll report and wants to look at one particular employee. The following data is available for a recent week: Hours
Quiz Company is preparing the payroll report and wants to look at one particular employee. The following data is available for a recent week: Hours Worked: 60 Hourly Pay Rate: $20.00 Federal Withholding: 25% FICA Withholding: 6.20% Medicare Withholding: 1.45% Illinois Withholding: 5% 401-K Deduction: 5% (employer matches) Federal and State Unemployment: 6% Required . Calculate the gross pay Calculate the net pay Calculate the total cost to the employer Calculate the % of total cost to gross pay for the employer Regular Pay (40 hours) Overtime Pay Gross Pay Federal Withholding FICA Withholding Medicare Withholding Illinois Withholding 401-K Deduction Net Pay Gross Pay FICA Medicare 401-K Unemployment Tax Total Compensation Expense % of Total to Gross Pay
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