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(round ALL calculations to the nearest penny) Sadie May, an employee of Shoe Chew, Inc., worked 46 hours for the week ended June 26th. She
(round ALL calculations to the nearest penny) Sadie May, an employee of Shoe Chew, Inc., worked 46 hours for the week ended June 26th. She earns $18 per hour regular pay and $36 per hour for overtime pay, which includes all hours worked in excess of 40 hours during a given week. $175 in federal and state income taxes were withheld from Sadie's check for the week. Her gross earnings prior to the current week were $8,000. The following payroll tax rates and wage limits are in effect during the current year: Social Security: 6.2% on maximum earnings of $137,700 per employee Medicare: 1.45% on all earnings Federal Unemployment: 0.8% on maximum earnings of $7,000 per employee State Unemployment: 2.7% on maximum earnings of $9,500 per employee QUESTION 1: What was Sadie's net paycheck for the week assuming the only amounts withheld from her check related to the above information? $664.13 $1,378.33 $601.66 $864.40 $689.40 QUESTION 2: What was Show Chew's total payroll tax expense related to Sadie for the week? $343.47 $96.87 $25.27 $168.47 $104.36 QUESTION 3: If Shoe Chew remitted ALL of the taxes related to the above check for Sadie on July 15th, by how much would cash decrease? $318.20 $154.90 $271.87 $329.90 $343.47
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