Question
Suppose you are single and work for a company that pays you $24/hour for all regular hours and time-and-a-half for any weekly hours exceeding 40
Suppose you are single and work for a company that pays you $24/hour for all regular hours and time-and-a-half for any weekly hours exceeding 40 hours. In a typical workweek , you work 44 hours. Assume you are paid biweekly. Find the following for each biweekly pay. The tax year does not matter.
1)Gross Wages
2)FICA
3)Medicare
4)SDI
5)State Tax (3.1%)
6)Local Tax (1.2%)
7)Federal Withholding (Assume 2 withholding allowances, use percentage method.)
8)Net earnings to the nearest penny.
9)What percent of gross is taken away for deductions? Write your answer to the nearest tenth of a percent.
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