Solution-What is the net amount to be paid to the employee

What is the net amount to be paid to the employee

Reference no: EM132556436

Question - An employee receives an hourly wage rate of $15, with time and a half for all hours worked in excess of 40 during the week. Payroll data for the current week are as follows: hours worked, 47; federal income tax withheld, $134; cumulative earnings for the year prior to this week, $24,420; social security tax rate, 6.0%; Medicare tax rate, 1.5%; state unemployment compensation tax, 3.4% on the first $7,000; and federal unemployment compensation tax, 0.8% on the first $7,000. What is the net amount to be paid to the employee? Round your answer to the nearest cent.

a. $566.69

b. $1,057.50

c. $757.50

d. $514.19

Reference no: EM132556436

Questions Cloud

Determine the total cost of ending work-in-process inventory : Determine the total cost of ending work-in-process inventory and the total cost of units transferred to finished goods in March..

Compute the value of transaction : The fixtures are sold for $3,028. Compute the value of this transaction in the investing section of the statement of cash flows

How much was the net cash flow : A company had net income of $231,020. Depreciation expense was $28,811. How much was the net cash flow from operating activities

Business intelligence : You reflect how the knowledge and skills obtained through meeting course objectives were applied or could be applied in the workplace.

What is the net amount to be paid to the employee : An employee receives an hourly wage rate of $15, What is the net amount to be paid to the employee? Round your answer to the nearest cent

Find what other factors sam company should take into account : Find what other factors Sam Company should take into account before deciding whether or not to purchase the computerized video QC system.

What is the maturity value of the note : On June 8, Williams Company issued an $82,800, 11%, 120-day note payable to Brown Industries. Assuming a 360-day year, what is the maturity value of the note

What are the main benefits of international harmonization : Countries are using different approaches to strengthen auditor independence. What are the main benefits of international harmonization of auditing standards

Project controls and testing : Identify the control objectives and techniques that will ensure the completeness, accuracy, validity, and authorization of transactions

User Account

All Pages

What is the net amount to be paid to the employee

Reference no: EM132556436

Reference no: EM132556436

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

Ds any trends in the net cash provided in

Wha single most influential force in todays society

The variable rate is reset at the end of each year

Typical variance and calculate etc and eac

Find the total cost function c

What is the amount of depreciation for the second full year

Compute the accounts receivable as of that date

Balance sheets and income statement problem

Is income taxes vary based on province of employment

Compute the companys weighted average cost of capital

Indirect and direct methods

Discuss the advantages of a convertible bond

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT