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andrey2020 [161]
3 years ago
11

Thomas Martin receives an hourly wage rate of $15, with time and a half for all hours worked in excess of 40 hours during a week

. Payroll data for the current week are as follows: hours worked, 46; federal income tax withheld, $318; social security tax rate, 6.0%; and Medicare tax rate, 1.5%. What is the gross pay for Martin
Business
1 answer:
baherus [9]3 years ago
5 0

<u>Answer:</u> $735

<u>Explanation:</u>

Calculation of regular earnings

Earnings at regular rate= Wage rate per hour x hours of work

= (15 x 40)

=$600

Calculation of additional hours income

Earnings at overtime rate=( 6(15 x 1.5))

=$135

Total gross pay = 600+135

=$735

The gross pay for martin is $735. The other deductions are made in the gross pay to arrive at the net pay. Deductions such as federal income tax, security tax rate and medicare tax rate is deducted from gross pay to find net pay.

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jeyben [28]

Answer:

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Explanation:

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6 0
3 years ago
When comparing mission statements of rival​ firms, perhaps the most important component to examine is​ what?
Veseljchak [2.6K]

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It is a picture of what we think we are. In a business self-concept is important because it dictates the way we act and think on a daily basis.

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