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Calculate payroll for the employee

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Reference no: EM132426681

Question - Use Excel to calculate payroll for the following employee and provide the appropriate journal entries.

J Employee has worked for you for years. He earns $75 per hour and 1.5x's that for every hour above 40 hours in a week. For the two week pay period ending Saturday, May 3rd, 20xx J. Employee worked 93 hours (42 in week one, and 51 hours in week two). Assume that social security tax is 6% of gross pay, and medicare is 1.5%. J. Employee has $2,000 withheld from his pay every pay period. Please round to two decimal points.

Reference no: EM132426681

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