Because an employee works 46 hours in a regular week of 40, with an hourly salary of $10 and receives double pay for hours worked in excess of 40, it determines:   Gross Income? 7% contribution on income 6.20%Social Security Contribution 1.45% of health care contributions Net income   For this same situation, it determines the employer's payroll contribution 6.20% Social Security contribution 1.45% health care contribution 4.40% state unemployment 0.60% federal unemployment 0.60% Temporary disability insurance Total employer's contribution

College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter8: Payroll Accounting: Employee Earnings And Deductions
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Because an employee works 46 hours in a regular week of 40, with an hourly salary of $10 and receives double pay for hours worked in excess of 40, it determines:

 

Gross Income?

7% contribution on income

6.20%Social Security Contribution

1.45% of health care contributions

Net income

 

For this same situation, it determines the employer's payroll contribution

6.20% Social Security contribution

1.45% health care contribution

4.40% state unemployment

0.60% federal unemployment

0.60% Temporary disability insurance

Total employer's contribution

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