Connect Secure htps://newconnect.mheducation.com/flow/connect.html Exam 3 (Chapt

Question

Connect Secure htps://newconnect.mheducation.com/flow/connect.html Exam 3 (Chapters 6,7,8) Help Save & Exit ????. 130 During the first week of January, an.. 26 During the first week of January, an employee works 49 hours, For this compay, workers earn 150% of their regular rate for hours in excess of 40 per week. Her pay rate is $20 per hour, and her wages are subject to no deductions other than FICA Social Security. FICA Medicare, and federal income taxes. The tax rate for Social Security is 62% of the first $118,500 earned each calendar year and the RCA tax rate for Medic res 145% of allearnings. The curent FUTA tax rate is as and the SUTA t rate is 54%Both are unemployment taxes are applied to the first $7000 of an employee's pay The employee has $83 in federal income sa taxes withheld. What is the amount of this employee's gross pay for the fist week of Janusry? Multiple Choice 1370 $1010 Prex 26 of 30E Next> 0 0

Explanation / Answer

Gross Pay = (40*20)+(9*20*150%)= $1070 Option 4 is correct

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