EX 11-9 Calculate payroll An employee earns $25 per hour and 2 times that rate for all hours in excess of 40 hours per week. Assume that the employee worked 48 hours during the week. Assume further that the social security tax rate was 6.0%, the Medicare tax rate was 1.5%, and federal income tax to be withheld was $239.15. ов). 2 Vb. Net pay, $1,055.85 Show Me How a. Determine the gross pay for the week. b. Determine the net pay for the week.
EX 11-9 Calculate payroll An employee earns $25 per hour and 2 times that rate for all hours in excess of 40 hours per week. Assume that the employee worked 48 hours during the week. Assume further that the social security tax rate was 6.0%, the Medicare tax rate was 1.5%, and federal income tax to be withheld was $239.15. ов). 2 Vb. Net pay, $1,055.85 Show Me How a. Determine the gross pay for the week. b. Determine the net pay for the week.
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter10: Liabilities: Current, Installment Notes, And Contingencies
Section: Chapter Questions
Problem 10.8EX: Calculate payroll An employee earns 44 per hour and 1.5 times that rate for all hours in excess of...
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a. Determine the gross pay for the week.
b. Determine the net pay for the week.
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