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Time Card & Net Pay Calculation

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Practice Questions

Complete the following time card. Janice earns time and a half overtime when she works more than eight hours on a weekday or on Saturday. She earns double time on Sundays and holidays. Calculate Janice's net pay if she earns $9.75 per hour, is married, and claims one withholding allowance.
Challenge Problem: You will:
• Complete time card.
• Calculate hours worked
• Calculate gross pay.
• Calculate payroll deductions
• Calculate net pay.

Weekly Time Card - Pay for period ending:
Date IN OUT IN OUT Total Regular Hours Total Overtime Hours
Monday 7:00 11:00 11:30 4:30 8 4
Tuesday 8:00 12:00 12:30 4:30 8 -
Wednesday 8:00 12:00 12:30 4:30 8 -
Thursday 7:00 11:00 12:30 5:30 8 -
Friday 8:00 12:00 12:30 4:30 8 -
Saturday 7:00 12:00 - - 5 -
Sunday

Hours Rate Gross Pay
Regular 40 9.75 390.00
Overtime (1.5x) 9 14.63 131.67
Overtime (2x) - - -
Total 49 24.38 521.67

Withholding = $31
Net pay = $521.67 - $31 = $490.67

Case Study 7-2: you will:
• Calculate net pay of activities director
• Figure tax deduction.
• Find take home pay with garnishment (dietician)
• Use percentage method for withholding
• Find net pay for regular hours (vehicle driver)
• Find net pay for regular hours and overtime hours.
• Find net pay minus child support (part-time care giver)
• Use the percentage method to find net pay.

Welcome Care, a senior citizen day care center, pays the major portion of its employees' medical insurance - $150 of the $204 monthly premium for an individual employee. If an employee wishes coverage for a spouse or family, the employee must pay $126 or $212 per month respectively to cover herself or himself and the additional person(s). The center hires three new employees. Calculate their semimonthly take-home pay using the percentage method tables. The company pays time and a half for overtime hours in excess of 40 hours in a given week. Medical insurance premiums can be paid with pretax dollars. Withholding taxes, social security, and medicare deductions are calculated on the lower adjusted gross salary.
1. An activities director is hired at an annual salary of $32,000. He is single with two dependent children (three withholding allowances) and wants family medical insurance coverage. Find his total deductions and his net income.

For 2008 taxes:

32,000-8,000 standard deduction for head of household-10,500 (3 personal exemptions)=13,500 taxable income = 1,456 tax

He would also have an earned income credit of 1,394 so if no withholding was done his tax would be 62 dollars.

I don't know what the medical insurance has to do with anything other than he probably wouldn't be able to afford it!

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Solution Summary

The solution completes time card and calculates net pay and others for Janice.

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Practice Questions

Complete the following time card. Janice earns time and a half overtime when she works more than eight hours on a weekday or on Saturday. She earns double time on Sundays and holidays. Calculate Janice's net pay if she earns $9.75 per hour, is married, and claims one withholding allowance.
Challenge Problem: You will:
• Complete time card.
• Calculate hours worked
• Calculate gross pay.
• Calculate payroll deductions
• Calculate net pay.

Weekly Time Card - Pay for period ending:
Date IN OUT IN OUT Total Regular Hours Total Overtime ...

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