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

What is the net amount to be paid to the employee

Assignment Help Accounting Basics

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

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT