Calculate gross pay including employee and employer taxes
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I am employed by HN Construction.
Hourly rate of $32 with overtime of 1.5 times regular pay rate for all hours more than 40 per week.
Total hours worked:52
Federal Income tax withheld $275
Cumulative earnings prior to the current week: $45,800
Payroll taxes:
FICA Taxes-owed by both Employee and Employer:
Social Security 6.2% on maximum earnings of $106,400
Medicare tax: 1.45% on all earnings
Unemployment Taxes-owed by Employer only: state unemployment: 5.4% on maximum earnings of $7000 and federal Unemployment of 0.8%; on maximum earnings of $7000
Determine Gross pay for current week
Total deductions for this pay period
HN payroll tax related to this person.
Please show work
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Solution Summary
The solution gives all the calculations with explanation for how to compute gross and net payroll, plus the payroll burden paid by the employer.
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Gross pay for the current week:
40 hours x 32 = 1280
12 hours x (32 x 1.5) = 576
Total gross for the week is 1280 + 576 = 1856.00
Total deductions for this pay period
Federal ...
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