Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

= The local hospital offers an incentive for nurses to work longer shifts. After a regular 8-hour shift, they can make double time on the

=

  1. The local hospital offers an incentive for nurses to work longer shifts. After a regular 8-hour shift, they can make double time on the remainder of their shift. That is, they make twice their salary for each hour they work over 8 hours. Nurse Jane works 12 hour shifts Monday through Friday. Her weekly gross income is $2136.00 , what is her base salary?
  2. Daniel is a very good television salesperson. His annual sales average at $187,400. His commission on sales is 30% and his annual base salary is $40,000. On average what is his annual gross income?
  3. Say the following are deductions on a typical income,
    1. Pension deductions are 5% (assume there is no maximum)
    2. Employment Insurance deductions are 2.4% (assume there is no maximum)
    3. And Income Tax deductions are as follows
      1. For annual salaries, on the first $11,000, no income tax is paid,
      2. On the first $11,000 to $25,000, 8% of the gross income is deducted,
      3. On the first $25,000 to $50,000, 12% of the gross income is deducted,
      4. On the first $50,000 to $100,000, 15% of the gross income is deducted,
      5. And on the rest of the income, 20% of that gross income is deducted.
  4. Henry makes an annual gross salary of $70,000, what is his net salary?

  5. Sarah serves at a restaurant and makes 20% of what she sells as tips. Her base salary is $10.20 an hour. Each hour she sells an average of $60 of food and drinks. She also makes time and a half when she works over 8 hours during a single shift. Her work week contains three 10-hour shifts, one 5-hour shift, and one 11-hour shift. Using the same income deductions as stated in the previous question, what is Sarahs annual gross income and annual net income.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing A Quickstudy Reference Tool

Authors: Michael P Griffin

1st Edition

1423236408, 978-1423236405

More Books

Students also viewed these Accounting questions

Question

Is it clear what happens if an employee violates the policy?

Answered: 1 week ago