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Sindrei [870]
2 years ago
8

An employee earns $24 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. Assume that the employee wo

rked 55 hours during the week, and that the gross pay prior to the current week totaled $34,800. 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 $345.
Required:
a. Determine the gross pay for the week.
b. Determine the net pay for the week.
Business
1 answer:
ANTONII [103]2 years ago
4 0

Answer:

Gross pay for the week is $1,500

Net pay for the week is $1,043

Explanation:

The gross pay is computed thus:

Normal rate pay  40 hrs*$24               =$960

Above normal pay(55-40)*$24*1.5     =$540

Gross pay                                               $1,500

Deductions:

Social security(6.0%*$1,500)                 ($90)

Medicare(1.5%*$1,500)                          ($22.5)

Federal income tax                                ($345)

Net pay for the week                              $1,043

The net pay for the week is gross pay less social security tax,medicare as well as the federal income tax,$1043 is the employee net pay for the week

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Answer: Option (D) is correct.

Explanation:

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Hence, the combine area of consumer surplus and producer surplus have to maximized to have a economic efficiency in an economy.

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Agency costs faced by MNCs may be larger than those faced by purely domestic firms because:

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<h3>What are multinational corporations?</h3>

Multinational corporations can be regarded as one that have the license to operates in more than one country at a time.

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Who is responsible for responding to workflow(s) for equipment dispatch requests through the business workplace require An appro
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Answer:

Commander

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The role of the Commander falls under the Wave 2 functions where he is required to perform the roles of maintenance, dispatch, unit supply, and property book functions. The Wave 1 function is mostly about allowing access to support supply activity functions. The commanders in any organization they work with can screen several transactions and give approval for equipment dispatch.

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