Chapter 10, Problem 10.8EX

Calculate payroll

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 51 hours during the week, determine the employee’s (A) gross pay and (B) net pay for 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 $403