An employee receives an hourly rate of $25, 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, 46 federal income tax withheld, $350; cumulative earnings for year prior to current week, $99,700; social security tax rate, 6.0% on maximum of $100,000; and Medicare tax rate, 1.5% on all earnings. What is the net amount to be paid the employee?© BrainMass Inc. brainmass.com June 3, 2020, 6:54 pm ad1c9bdddf
The gross pay is 40X25+6X25X1.5 = 1,225
The deductions are
Income tax withheld ...
The solution explains how to calculate the net pay for an employee