and-a-half3. Carole is paid a monthly salary of $2011.10. Her regular workweek is 35 hours.(a) What is Carole's hourly rate of pay?(b) What is Carole's gross pay for May if she worked 7 hours overtime during themonth at time-and-a-half regular pay?4

The hourly rate of pay refers to the salary that an individual receives for every extra hour they…

Answered: 3. Carole is paid a monthly salary of…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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14) An employer has computed the following amounts for its employee Mary during a week in January: gross wages $500.00; FNPF $80; LICI $50 and PAYE $25. The amount of Mary's net pay is __. The employer's total expense for Mary's employment during the week is
An employee earns $36 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. If the employee worked 50 hours during the week. Assume that the social security tax rate is 6.0%, the Medicare tax rate is 1.5%, and the employee’s federal income tax withheld is $455. a. Determine the gross pay for the week.$fill in the blank 1 If applicable, round your final answer to two decimal places. b. Determine the net pay for the week.
An employee earns $44 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. If the employee worked 60 hours during the week. Assume that the social security tax rate is 6.0%, the Medicare tax rate is 1.5%, and the employee's federal income tax withheld is $708. a. Determine the gross pay for the week. If applicable, round your final answer to two decimal places. b. Determine the net pay for the week.
If an employee is paid an hourly rate of $25.50 for regular-time work, what are the employee's time-and-a -half and double-time hourly rates for overtime work?
Your answer is partially correct. Karen Peters' regular hourly wage rate is $42, and she receives an hourly rate of $63 for work in excess of 40 hours. During a March pay period, Karen works 47 hours. Karen's federal income tax withholding is $80, and she has no voluntary deductions. The FICA tax rate is 7.65%. A Prepare the journal entry to record Karen's pay for the period. Use March 15 for the end of the pay period. (Round answers to 2 decimal places, e.g. 52.75. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) Date Mar. 15 here to search Account Titles and Explanation Salaries and Wages Expense FICA Taxes Payable Salaries and Wages Payable Cash Ef 50 Chp Debit 2,121 Credit 162.25 1.878.75 1,878.75 12:1 61°F Clear ^ @4) 934
6. Compute gross wages due to each employee under federal wage-hour law: а. Nona is a salaried employee and is paid $900 for a 32-hour workweek. One week, she works 40 hours. b. Sal is normally paid $600 for a 40-hour workweek. One week, he works 45 hours.
22. Laine, a tipped employee, reported to her employer that she had received $310 in tips during June. On the next payday, July 12, she was paid a regular weekly salary of $375, a) The amount of OASDI taxes to withhold from Laine's pay is b) The amount of HI taxes to withhold from Laine's pay is c) Laine's net pay (take-home pay) for the pay dated July 12 (assuming no other tax withholdings) is
Trish worked from May 10 to 14, 2021 for 50 hours during the week for a 40-hours week, as per contract. The regular rate is P120 per hour and is paid P24 per hour for overtime. She also works during regular holiday, May 13, 2021, in celebration of the Eid’l Fitr for 10 hours. For the regular holiday, she was paid double including the overtime. How much should be charged to the following: Work in process Factory overhead control Total payroll
Peter Jones is paid $13.76 per hour. During the past week, he worked 44 hours, and he is a covered employee who must be paid for overtime. Calculate his gross pay using the overtime premium approach. Round your overtime rate to two decimal places and use the rounded amount in subsequent computations. Round your final answers to the nearest cent. a. Regular pay (44 hours) b. Overtime premium pay c. Gross pay $ $
Mr Smith's annual salary is $45,000. His regular workweek consists of four 10-hour workdays. He is eligible for overtime at one and a half times worked in excess of 10 hours per day or 40 hours per week. Determine his gross earnings in a pay period if he is paid semimonthly, if he is paid biweekly, if he works 6 hours of overtime in a biweekly pay period.
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3. Carole is paid a monthly salary of $2011.10. Her regular workweek is 35 hours. (a) What is Carole's hourly rate of pay? (b) What is Carole's gross pay for May if she worked 7-hours overtime during the month at time-and-a-half regular pay?