During one week ended May 8, 2016, Arnold Hanover worked 40 hours. His regular hourly rate is $15. These earnings are subject to social security tax at a rate of 6.2% and Medicare tax at a rate of 1.45%. This employee also has some deductions including $51 for federal income tax and $69 for health insurance. Compute the following: 1. Gross pay for a week? 2. Total of the employee deductions for a week? 3. Net pay for this week?
During one week ended May 8, 2016, Arnold Hanover worked 40 hours. His regular hourly rate is $15. These earnings are subject to social security tax at a rate of 6.2% and Medicare tax at a rate of 1.45%. This employee also has some deductions including $51 for federal income tax and $69 for health insurance. Compute the following: 1. Gross pay for a week? 2. Total of the employee deductions for a week? 3. Net pay for this week?
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter7: Employee Earnings And Deductions
Section: Chapter Questions
Problem 7E
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During one week ended May 8, 2016, Arnold Hanover worked 40 hours. His regular hourly rate is $15. These earnings are subject to social security tax at a rate of 6.2% and Medicare tax at a rate of 1.45%. This employee also has some deductions including $51 for federal income tax and $69 for health insurance.
Compute the following:
1. Gross pay for a week?
2. Total of the employee deductions for a week?
3. Net pay for this week?
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