User Account

All Pages

Determine the gross pay for the week

Assignment Help Accounting Basics
Reference no: EM132521957

Question - An employee earns $40 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. If the employee worked 60 hours during the week.

Assume that the social security tax rate is 6.0%, the Medicare tax rate is 1.5%, and the employee's federal income tax withheld is $644.

Required -

a. Determine the gross pay for the week. If applicable, round your final answer to two decimal places.

b. Determine the net pay for the week.

Reference no: EM132521957

Questions Cloud

Calculate the depreciation expense : Calculate the depreciation expense under the units-of-production method, assuming the actual number of units produced was 70,620 in 2016 and 118,160 in 2017
Civil service reform act : Explain what civil service looks like since the Civil Service Reform Act of 1978. Explain what civil service looked like before 1978.
What is the variable electricity cost per hour of operation : During July, the complex will open for 570 hours. Predict the complex's total electricity costs for July using the cost estimation method employed
Detailed observations when collecting data : One of the hallmarks of qualitative research is writing detailed observations when collecting data.
Determine the gross pay for the week : An employee earns $40 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. Determine the gross pay for the week
Why do the ask to classify the costs : The following classification of costs for a jeans manufacturing company is a variable cost, committed fixed cost, or discretionary fixed cost
Government in action : Our research has looked at healthcare, the economy, and national security. What's an important issue that we've missed,
What total amount should be disclosed as compensation : Share options and other share-based payments 1,000,000. What total amount should be disclosed as compensation to key management personnel
?find the friction on the slope : Assuming ?µ ?s ?and ?µ k ? on ice are 0.14 and 0.10, respectively, ?for waxed wood on wet snow. You can neglect air resistance?.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Year end accounts receivable

An auditor noted that client sales increased 10 percent for the year. At the same time, Cost of Goods Sold as a percentage of sales had decreased from 45 percent to 40 percent and year-end accounts receivable.

  Determine the amount of goodwill in the purchase price

The Eaton Manufacturing Company decided to expand further by purchasing the Ball Company. Determine the amount of goodwill in the purchase price of $2,100,000

  Examine the earning of revenue by a business enterprise

The earning of revenue by a business enterprise is recognized for accounting purposes when the transaction is recorded.

  Discuss estimated electricity payable as at the end of june

The estimated electricity payable as at the end of June

  On january 1 2010 guzman company purchased a machine

on january 1 2010 guzman company purchased a machine costing 150000. the machine is in the macrs 5-year recovery class

  Compute the firm predetermined overhead rate

The firm estimates total direct labor cost for the year to be $2,127,500. Compute the firm's predetermined overhead rate

  A customer purchases a pair of sunboots

Clarks Inc., a shoe retailer, sells boots in different styles. In early November the company starts selling Ac€A? SunBootsAc€? to customers for $70 per pair.

  Static planning budget versus flexible budget

What is the difference between a static planning budget versus a flexible budget? What are some of the possibilities that actual results may differ from what has been budgeted at the beginning of a period?

  Prepare the retained earnings statement for the year

For the year ending December 31, 2017, Soto Inc. reports net income $143,000 and dividends $88,000. Prepare the retained earnings statement for the year.

  What cost amount should be allocated to product a for this

data pertaining to a companys joint manufacturing process for the current period follows product a quantities produced

  What functions should perform for the company

In what ways can the business benefit from a Web site? What functions should it perform for the company (e.g., marketing, sales, customer support, internal.

  Calculate interest expense for the year ended December

On July 1, 2021, Moonlight Bay issued bonds with a face amount of $1,500,000. Calculate interest expense for the year ended December 31, 2021

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd