Martin Peters earns $6.10 per hour for the first 40 hours each week. He is paid 1 1/2 times regular pay for all hours over 40. Last week he worked 52 hours. 1a) Find his gross pay. 1b) Find his FICA tax at 7.65% 1c) Find his net pay if other taxes and deductions totaled $73.90.
Martin Peters earns $6.10 per hour for the first 40 hours each week. He is paid 1 1/2 times regular pay for all hours over 40. Last week he worked 52 hours. 1a) Find his gross pay. 1b) Find his FICA tax at 7.65% 1c) Find his net pay if other taxes and deductions totaled $73.90.
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter8: Payroll Accounting: Employee Earnings And Deductions
Section: Chapter Questions
Problem 1CE
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Martin Peters earns $6.10 per hour for the first 40 hours each week. He is paid 1 1/2 times regular pay for all hours over 40. Last week he worked 52 hours.
1a) Find his gross pay.
1b) Find his FICA tax at 7.65%
1c) Find his net pay if other taxes and deductions totaled $73.90.
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