1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Pachacha [2.7K]
3 years ago
11

An employee receives an hourly rate of $30, 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, $300; cumulative earnings for year prior to current week, $90,700; social security tax rate, 6.0% on maximum of $100,000; and medicare tax rate, 1.5% on all earnings. what is the net amount to be paid the employee?
a. $1,470
b. $1,059.75
c. $1,381.80
d. $1,249.50
Business
1 answer:
disa [49]3 years ago
5 0
I would say $1059.75 is the net amount the employee would receive for the current week after the deductions. The pay for this employee is 40 hrs x $30= $1200+(6 x $45)$270=$1470. Federal income tax deducted is $300, social security is 6% = 0.06x$1470= $88.20 and medicare is 1.5% = 0.015 x $1470=$22.05. So gross pay = $1470-$300-$88.20-$22.05= $1059.75.
You might be interested in
ABC has the following information for the current year: Budgeted indirect costs are $4,000, the budgeted allocation base is 2,00
Marrrta [24]

Answer:

$2 per hour

Explanation:

<u>Given</u>: Budgeted indirect cost $4000

           Budgeted allocation base ; 2000 hours

           Actual indirect costs incurred: $4200

           Actual allocation base : 2050 hours

Standard rate for allocation of indirect cost = Budgeted indirect cost/Budgeted allocation base

= $4000/2000 hrs

= $2 per hour

Budgeted or standard indirect cost rate refers to the estimated indirect cost rate which is arrived at by dividing budgeted expenses by budgeted allocation base i.e budgeted hours here.

8 0
3 years ago
Why does the law of increasing opportunity cost occur?
Elena L [17]

Answer:

The correct answer is A and B

Explanation:

Law of increasing the opportunity cost is the principle or the concept which is defined as the company continue to increase the production of one good, the opportunity cost of producing the next unit will increase.

It is as to reallocate the resources in order to produce that one good which was better or best suited to produce the original good.

The law of opportunity cost occur when some of the resources are best suited for some tasks or products instead of others and it will lead to increase in production with increase in the opportunity cost too.

8 0
3 years ago
Survey
qaws [65]
<span>1. When John received his W2, he received several copies. Why was he sent multiple copies of this form?

The different copies are for John and each tax return he may file

2. Who sent John this W-2?

John's employer - ProperLiving Widget Engineering & Design


3. How much did John make in wages in the 2014 tax year? (assuming this was John's only job)

I do not know

4. How much did John 'take home' in net pay? (assuming this was John's only job)

I do not know


5. How much did John save in his 401(k) in the 2014 tax year?
I do not know


6. Assume your employer provides health care insurance and deducts your portion of the premiums from your paycheck with pre-tax dollars. Are your health insurance premiums federally tax deductible?
Yes


8. Select what would happen to your 1) taxable income and 2) tax liability when you are able to claim a deduction such as student loan interest?

1) lower 2) higher


9. Which are tax deductible?

Student loan payments


</span>
4 0
3 years ago
What is comdominance?
zzz [600]
Comdominance isnt a word. Assuming you mean
Codominance which is a relationship between two versions of a gene. They are called allele; one given from each parent
6 0
3 years ago
How is revising different from editing?
weqwewe [10]

Answer:

revising is done by yourself, whereas editing is done by other person

8 0
3 years ago
Other questions:
  • Louise Fulkerson is president of the Student Marketing Association at Baylor University. Louise and the otherofficers want to co
    11·1 answer
  • Fire Hydrant Pet Supply just paid its first annual dividend of $0.75 a share. The firm plans to increase the dividend by 2.9 per
    9·1 answer
  • When determining the cost of a manufactured good under an operation-costing system, a company would:
    10·1 answer
  • An employee of JHT Holdings, Inc., a private trucking company, was responsible for resolving roadway accident claims under $25,0
    14·1 answer
  • If the cost of producing orange juice​ increases, the equilibrium price of orange juice will​ ________ and the equilibrium q
    11·1 answer
  • A company has​ $321,000 in credit sales. the company uses the allowance method to account for uncollectible accounts. the allowa
    10·1 answer
  • The following transactions occurred during July: 1. Received $1,350 cash for services performed during July. 2. Received $6,950
    8·1 answer
  • In a repo transaction (or repurchase agreement), the one "buying" the collateral asset (with the promise of selling it back soon
    7·1 answer
  • The subject of the auditing procedure inspecting is least likely to be: a. lease agreements. b. physical assets. c. personnel. d
    6·1 answer
  • Can someone plz and answer this, I’m giving 100 points and brainliest!!
    9·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!