Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Vicky Le, an employee of Sweet Shoppe Industries, receives a bonus of $3,600 for her stellar work. Her boss wants Vicky to receive $3,600
Vicky Le, an employee of Sweet Shoppe Industries, receives a bonus of $3,600 for her stellar work. Her boss wants Vicky to receive $3,600 on the check. She contributes 3 percent of her pay in a pre-tax deduction to her 401(k). Required: Calculate the gross pay amount that would result in $3,600 paid to Vicky. (The tax rate on bonuses is 22 percent. Social Security (6.2%) and Medicare taxes (1.45%) must be added to this rate.) (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Gross pay
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