Homework Answers
| Regular Earnings | 980.00 | =(40*24.50) |
| Overtime Earnings | 367.50 | =(50-40)*24.50*1.5 |
| Gross earnings | 1347.50 | |
| Social Security tax | 83.55 | =1347.50*6.2% |
| Medicare tax | 19.54 | =1347.50*1.45% |
| Employer's payroll tax expense | 103.09 | or 103.08 |
| Note: Unemployment taxes are $0 as gross wages to date already exceed $7000 | ||
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MC Qu. 11-64 Roy DeSoto earns a regular hourly salary of... Roy DeSoto earns a regular hourly salary of $24.50. He...
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Chapters 9-11 Saved Help Save & Exit Submit MC Qu. 11-49 Mr. Zee worked 48 hours during the week ende.... 1 Mr....
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over 40 per week), and gross pay. Then compute his FICA tax
deduction (6.2% for the Social Security portion and 1,45% for the
Medicare portion),...
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Lenny Florita, an unmarried employee, works 50 hours in the week
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deductions for FICA Social Security, FICA Medicare, and federal
income taxes. He claims four withholding allowances. Compute his
regular pay, overtime pay (Lenny earns $18 per hour for each hour
over 40 per week), and gross pay. Then compute his FICA tax
deduction (6.2% for the Social Security portion and 1,45% for the
Medicare portion),...
Check my work Lenny Florita, an unmarried employee, works 52 hours in the week ended January 12. His pay rate is $12 per hour, and his wages have deductions for FICA Social Security, FICA Medicare, and federal income taxes. He claims three withholding allowances. Compute his regular pay, overtime pay (Lenny earns $18 per hour for each hour over 40 per week), and gross pay. Then compute his FICA tax deduction (6.2% for the Social Security portion and 1.45% for...
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