Purchase Solution

Payroll Calculations

Not what you're looking for?

Ask Custom Question

Betty Williams' regular hourly wage rate is $14.00, and she receives a wage of 1 1⁄2 times
the regular hourly rate for work in excess of 40 hours. During a March weekly pay period Betty worked 42 hours. Her gross earnings prior to the current week were $6,000. Betty is married and claims three withholding allowances. Her only voluntary deduction is for group hospitalization insurance at $15.00 per week.

Instructions
(a) Compute the following amounts for Betty's wages for the current week.

(1) Gross earnings
(2) FICA taxes. (Assume an 8% rate on maximum of $87,900.)
(3) Federal income taxes withheld. (Use the withholding table in the text, page D6.)
(4) State income taxes withheld. (Assume a 2.0% rate.)
(5) Net pay.
(b) Record Betty's pay, assuming she is an office computer operator.

Attachments
Purchase this Solution

Solution Summary

This solution is comprised of a detailed explanation to compute the following amounts for Betty's wages for the current week.

(1) Gross earnings
(2) FICA taxes. (Assume an 8% rate on maximum of $87,900.)
(3) Federal income taxes withheld.
(4) State income taxes withheld. (Assume a 2.0% rate.)
(5) Net pay.
(b) Record Betty's pay, assuming she is an office computer operator.

Solution Preview

Betty Williams' regular hourly wage rate is $14.00, and she receives a wage of 1 1⁄2 times
the regular hourly rate for work in excess of 40 hours. During a March weekly pay period Betty worked 42 hours. Her gross earnings prior to the current week were $6,000. Betty is married and claims three withholding allowances. Her only ...

Purchase this Solution


Free BrainMass Quizzes
Paradigms and Frameworks of Management Research

This quiz evaluates your understanding of the paradigm-based and epistimological frameworks of research. It is intended for advanced students.

Production and cost theory

Understanding production and cost phenomena will permit firms to make wise decisions concerning output volume.

MS Word 2010-Tricky Features

These questions are based on features of the previous word versions that were easy to figure out, but now seem more hidden to me.

Balance Sheet

The Fundamental Classified Balance Sheet. What to know to make it easy.

Operations Management

This quiz tests a student's knowledge about Operations Management