4. John McDonald is employed by Lee & Sterling. He is married, claims two withholding allowances, and earns $16.97 per hour. He has also chosen to have his union dues ($405 annually) and medical insurance ($5,500 per year, of which his employer pays 70%) deducted from his weekly paycheck. His cumulative gross earnings prior to this paycheck were $7,858.26. This week he worked 49 hours and 45 minutes. The union contract states that time-and-a-half is paid for all hours worked over 38 hours per week. Find all of John McDonald's deductions for this pay period given the information above. Then find John McDonald's net pay for this week.

4. John McDonald is employed by Lee & Sterling. He is married, claims two withholding allowances, and earns $16.97 per hour. He has also chosen to have his union dues ($405 annually) and medical insurance ($5,500 per year, of which his employer pays 70%) deducted from his weekly paycheck. His cumulative gross earnings prior to this paycheck were $7,858.26. This week he worked 49 hours and 45 minutes. The union contract states that time-and-a-half is paid for all hours worked over 38 hours per week. Find all of John McDonald's deductions for this pay period given the information above. Then find John McDonald's net pay for this week.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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