Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Silver Spoons, a clothing resale store, employs one salesperson, Diana Harper. Harper's straight-time wage is $36 per hour, with time-and-a-half pay for hours above 40.
Silver Spoons, a clothing resale store, employs one salesperson, Diana Harper. Harper's straight-time wage is $36 per hour, with time-and-a-half pay for hours above 40. Silver Spoons withholds income tax (15%), FICA-OASDI (6.2%), and FICA-Medicare (1.45%) from Harper's pay. Silver Spoons also pays payroll taxes for FICA-OASDI (6.2%), FICA-Medicare (1.45%), and state and federal unemployment (5.4% and 0.6%, respectively). During the week ended December 26, Harper worked 62 hours. Prior to this week, she had earned $1,600. Read the requirements Requirement 1. Compute Harper's gross pay and net (take-home) pay for the week. Begin with the computation of gross pay. (Round all amounts to the nearest whole dollar.) Gross Pay: Straight-time pay for 40 hours Overtime pay for 22 hours $ Withholding deductions: $ E 1,440 1,188 2,628 Gross Pay Now calculate net (take-home) pay. (Round all amounts to the nearest whole dollar.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started