An employee receives an hourly rate of 15 with the time and


An employee receives an hourly rate of $15, with the 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,48; federal income tax withheld,$120;cumulative earnings for the year prior to this week, $24,500; Social security tax rate 6% on maximum of $100,000; and medicare tax rate, 1.5% on all earnings; state unemployment compensation tax,3.4% on the first $7,000; federal unemployment compensation tax, .8% on the first $7,000. What is the net amount to be paid the employee?

a. $568.74

b. $601.50

c. $660.00

d. $574.90

Request for Solution File

Ask an Expert for Answer!!
Financial Accounting: An employee receives an hourly rate of 15 with the time and
Reference No:- TGS01073718

Expected delivery within 24 Hours