The following date for Presco Inc. relate to the payroll for the week ended February 9: Employee Federal Income Tax United Way (Charitable Contributions) Hours Worked Hourly Rate Ashley 52 $50.00 $667.00 $60 Luke 36 $52.00 $355.68 $0 Todd 45 $58.00 $578.55 $44 All personnel are paid 1 ½ times the regular rate for all hours in excess of 40 hours per week. The social security tax rate is 6.0% of each employee's annual earnings, and Medicare tax is 1.5% of each employee's annual earnings. What are the gross wages for Ashley? Please round your answer to whole dollar, and do not input a dollar sign. Answer:
The following date for Presco Inc. relate to the payroll for the week ended February 9: Employee Federal Income Tax United Way (Charitable Contributions) Hours Worked Hourly Rate Ashley 52 $50.00 $667.00 $60 Luke 36 $52.00 $355.68 $0 Todd 45 $58.00 $578.55 $44 All personnel are paid 1 ½ times the regular rate for all hours in excess of 40 hours per week. The social security tax rate is 6.0% of each employee's annual earnings, and Medicare tax is 1.5% of each employee's annual earnings. What are the gross wages for Ashley? Please round your answer to whole dollar, and do not input a dollar sign. Answer:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Additionally, what is the net paycheck for Ashely, and what are the gross wages for Luke?
Thank you so much!

Transcribed Image Text:The following date for Presco Inc. relate to the payroll for the week ended February 9:
United Way
(Charitable
Contributions)
Hours Worked
Employee
Hourly Rate
Federal Income
Тах
Ashley
52
$50.00
$667.00
$60
Luke
36
$52.00
$355.68
$0
Todd
45
$58.00
$578.55
$44
All personnel are paid 1 ½ times the regular rate for all hours in excess of 40 hours per week. The social security tax rate is 6.0% of
each employee's annual earnings, and Medicare tax is 1.5% of each employee's annual earnings.
What are the gross wages for Ashley?
Please round your answer to whole dollar, and do not input a dollar sign.
Answer:
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps

Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON

Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education

Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education