An employee receives an hourly rate of $32.00, with time and a half for all hours worked in excess of 40 during a week. Payroll data for the current week are as follows: hours worked, 45; federal income tax withheld, $325.00; social security tax rate, 6.0%; and Medicare tax rate, 1.5% on all earnings. What is the net amount to be paid to the employee? Select the correct answer. $1,001.00 $1,081.00 $1,115.00 $1,520.00
An employee receives an hourly rate of $32.00, with time and a half for all hours worked in excess of 40 during a week. Payroll data for the current week are as follows: hours worked, 45; federal income tax withheld, $325.00; social security tax rate, 6.0%; and Medicare tax rate, 1.5% on all earnings. What is the net amount to be paid to the employee? Select the correct answer. $1,001.00 $1,081.00 $1,115.00 $1,520.00
Chapter4: Income Tax Withholding
Section: Chapter Questions
Problem 5SSQ
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An employee receives an hourly rate of $32.00, with time and a half for all hours worked in excess of 40 during a week. Payroll data for the current week are as follows: hours worked, 45; federal income tax withheld, $325.00; social security tax rate, 6.0%; and Medicare tax rate, 1.5% on all earnings. What is the net amount to be paid to the employee?
Select the correct answer.
$1,001.00
$1,081.00
$1,115.00
$1,520.00
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