What is the net amount to be paid to the employee

Assignment Help Finance Basics
Reference no: EM13265813

An employee receives an hourly rate of $27, with time and a half for all hours worked in excess of 40 during a week. Payroll data for the current week are as follows: hours worked, 46; federal income tax withheld, $350; cumulative earnings for year prior to current week, $99,700; social security tax rate, 6.0% on maximum of $100,000; and Medicare tax rate, 1.5% on all earnings. What is the net amount to be paid to the employee?

Reference no: EM13265813

Questions Cloud

State the formulas relating frequency and wavelength : Write down the formulas relating (a) frequency and wavelength, (b) Wavelength and momentum, and (c) energy and frequency of a photon.
Calculate the annual depreciation allowances : A piece of newly purchased industrial equipment costs $970,000 and is classified as seven-year property under MACRS. The MACRS depreciation schedule. Calculate the annual depreciation allowances and end-of-the-year book values for this equipment.
What is the speed of the textbook : You drop a 1.5 kg textbook to a friend who stands on the ground 10 m below the textbook with outstretched hands 1.50 m above the ground. What is the speed of the textbook when it reaches the hands? m/s
What is the total real power and reactive power produced : A three-phase generator is producing power for a balanced load. Each phase provides a voltage of 690 V and a current of 1000 A. The angle between the voltage and current in each phase is 20°. What is the total real power and reactive power produce..
What is the net amount to be paid to the employee : An employee receives an hourly rate of $27, with time and a half for all hours worked in excess of 40 during a week.
What is the last color seen : As a soap bubble (n = 1.33) evaporates and thins, thereflected colors gradually disappear. What is the last color seen
What is the discounted payback period : An investment project has annual cash inflows of $3,800, $4,700, $5,900, and $5,100, and a discount rate of 14 percent. What is the discounted payback period for these cash flows if the initial cost is $6,500?
Find what is the binary and decimal value of c : Assume you are performing 2's complement arithmetic in a computer with 8-bit registers. After the following code is run, signed char a = -17, b = 120, c; c = a - b; What is the binary and decimal value of c
What is the cross-rate in terms of yen per pound : Assume that U.S. six-month Treasury bills have an annualized rate of 6.2% while default-free Japanese bonds that mature in six months have an annualized rate of 5.0% and that interest rate parity holds.

Reviews

Write a Review

Finance Basics Questions & Answers

  What is the standard deviation of the complete portfolio

Consider the following capital market: a risk-free asset yielding 1.75% per year and a mutual fund consisting of 65% stocks and 35% bonds. The expected return on stocks is 12.50% per year and the expected return on bonds is 3.25% per year. The standa..

  Individual investor versus a mutual fund

Would these three elements have different priorities if referring to an individual investor versus a mutual fund?

  Compute basic and diluted eps

Compute basic and diluted EPS (rounded to 2 decimal places) for the year ended December 31, 2013.

  What is the sensitivity of ocf to changes in quantity sold

Dr. Neil deGrasse Tyson has recommended to the Hayden Planetarium that they sell stuffed animals, such as Disney's loveable Pluto character, to help fund their research efforts on finding planetoids in our outer solar system.

  What is dannys average daily collection

What is the relationship between the terms that Danny is giving and his average daily collection?

  Evaluate the proposed zero balance account

Relaxation of credit standards Lewis Enterprises is considering relaxing its credit standards to increase its currently sagging sales.

  What is her portfolios beta

An individual has $30,000 invested in a stock with a beta of 0.7 and another $45,000 invested in a stock with a beta of 2.5. If these are the only two investments in her portfolio, what is her portfolio's beta? Round your answer to two decimal pla..

  Estimation of net present value

A proposed project can generate savings of $1000 per year for ten years. The initial cost of the project is $2500 and the project has a salvage value of $500 in the 10th year.

  Show the range in the npvs for each variable and chart

Show the range in the NPVs for each variable and chart the analysis. Which variable has the highest risk and which variable has the lowest risk? Explain.

  Monitoring the financial situation

What happen if financial projections based on incorrect data? For example, if your booked accounts receivable is significantly higher than actual accounts receivable & cash inflows, does your expense budgeting change?

  Finance based question

A store sells almonds fo $6 a pound, cashews for $5 a pound, and peanuts for $2 a pound. One week the manager decides to prepare hundred sixteen ounce packages of nuts by mixing 40 pounds of peanuts with some almonds and cashews.

  What is the equation for facilities cost

Using the high low method, with student credit hours as the activity driver, what is the equation for facilities cost (FC) as a function of student credit hours?

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!

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