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kolbaska11 [484]
2 years ago
7

An employee receives an hourly rate of $27, with time and a half for all hours worked in excess of 40 during a week. Payroll dat

a for the current week are as follows: hours worked, 46; federal income tax withheld, $350; cumulative earnings for year prior to current week, $99,700; social security tax rate, 6.0% on maximum of $106,800; and Medicare tax rate, 1.5% on all earnings. What is the gross pay for the employee
Business
1 answer:
Nadusha1986 [10]2 years ago
5 0

Answer:

$1,323

Explanation:

The computation of the gross pay for the employees is shown below;

Gross pay = ( Hours worked × Hourly rate ) + (Hours worked - excess worked hours) × Hourly rate × half yearly basis

= (46 hours × $27 ) + (46 hours - 40 hours) × $27 × 0.50

= $1,323

We simply applied the above formula to determine the gross pay for the employee without deducting any kind of taxes given in the question.

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pishuonlain [190]

Answer:

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Tangshan Industries has issued a bond which has a​ $1,000 par value and a 15 percent annual coupon interest rate. The bond will
mina [271]

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B. 10.79 percent

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