An employee earns $32 per hour and 1.5 times that rate for all hours in excess o

Question

An employee earns $32 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. The employee worked 50 hours during the week. Assume that the social security tax rate was 6.0%, the Medicare tax rate was 1.5%, and federal income tax to be withheld was $404.80.

Determine the The total earnings of an employee for a payroll period.gross pay for the week.

Determine the Gross pay less payroll deductions; the amount the employer is obligated to pay the employee.net pay for the week.

Explanation / Answer

Gorss Pay 1760 =(40*32)+(10*32*1.5) Deductions: Social security tax 105.6 =1760*6% Medicare tax 26.4 =1760*1.5% Federal income tax 404.8 Total Deductions 536.8 Net pay 1223.2

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