An employee receives an hourly wage rate of $15, with time and a half for all hours worked in excess of 40 during the first week of the calendar year. Payroll data for the first week of the calendar year are as follows: hours worked, 48; federal income tax withheld, $120; social security tax rate, 6.0%; Medicare tax rate, 1.5%; state unemployment tax, 5.4% on the first $7,000; and federal unemployment tax, 0.8% on the first $7,000. What is the net amount to be paid to the employee? a. $601.50 Ob. $660.00 Oc. $568.74 Od. $574.90
An employee receives an hourly wage rate of $15, with time and a half for all hours worked in excess of 40 during the first week of the calendar year. Payroll data for the first week of the calendar year are as follows: hours worked, 48; federal income tax withheld, $120; social security tax rate, 6.0%; Medicare tax rate, 1.5%; state unemployment tax, 5.4% on the first $7,000; and federal unemployment tax, 0.8% on the first $7,000. What is the net amount to be paid to the employee? a. $601.50 Ob. $660.00 Oc. $568.74 Od. $574.90
College Accounting (Book Only): A Career Approach
12th Edition
ISBN:9781305084087
Author:Cathy J. Scott
Publisher:Cathy J. Scott
Chapter7: Employee Earnings And Deductions
Section: Chapter Questions
Problem 5PA
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Question
![An employee receives an hourly wage rate of $15, with time and a half for all hours worked in excess of 40 during the first week of the calendar year. Payroll data for the
first week of the calendar year are as follows: hours worked, 48; federal income tax withheld, $120; social security tax rate, 6.0%; Medicare tax rate, 1.5%; state
unemployment tax, 5.4% on the first $7,000; and federal unemployment tax, 0.8% on the first $7,000. What is the net amount to be paid to the employee?
a. $601.50
Ob. $660.00
Oc. $568.74
Od. $574.90](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2b38df42-37b7-494f-a3ad-92935b6d334b%2Fbe72d7ae-d39c-4771-aae2-32459b434bb5%2Fvymi4zr_processed.jpeg&w=3840&q=75)
Transcribed Image Text:An employee receives an hourly wage rate of $15, with time and a half for all hours worked in excess of 40 during the first week of the calendar year. Payroll data for the
first week of the calendar year are as follows: hours worked, 48; federal income tax withheld, $120; social security tax rate, 6.0%; Medicare tax rate, 1.5%; state
unemployment tax, 5.4% on the first $7,000; and federal unemployment tax, 0.8% on the first $7,000. What is the net amount to be paid to the employee?
a. $601.50
Ob. $660.00
Oc. $568.74
Od. $574.90
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