malcolm’s employer automatically deducts 37.7% from his paycheck every month for taxes, insurance premiums, retirement accounts,

Question

dezoksy [38]

1 year ago

7

malcolm’s employer automatically deducts 37.7% from his paycheck every month for taxes, insurance premiums, retirement accounts,

and so on. he ends up taking home $39560.50. what was his gross pay?

Business

1 answer:

kolbaska11 [484] · Answer 1 · 2024-07-30T18:27:44+03:00

The gross pay of the malcolm’s employe is $ 104,935.0133.

Gross pay is what employees earn before taxes, benefits and other payroll deductions are withheld from their wages. the quantity last after all withholdings are accounted for is net pay or take-domestic pay.

Calculation:-

net pay = $39560.50

gross pay × 37.7 % = net pay

X × 37.7 /100 = $39560.50

X = $39560.50 × 100 ÷ 37.7

= $ 104,935.0133

Fundamental revenue is a charge of pay agreed upon by way of an corporation and worker and does now not encompass overtime or any extra compensation. Gross earnings, but, is the quantity paid before tax or other deductions and consists of overtime pay and bonuses.

Learn more about gross pay here:-brainly.com/question/25273589

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