Martin Jackson receives an hourly wage rate of $30, with time and a half for all hours worked in excess of 40 hours during a week. Payroll data for the current week are as follows: hours worked, 46; federal income tax withheld, $350; social security tax rate, 6.0%; and Medicare tax rate, 1.5%. What is the net amount to be paid to Jackson? a. $1,097.95 b. $1,009.75 c. $1,470.00 d. $460.25

Respuesta :

Answer: 1009.75

Explanation:

Computation of Net Pay

Hourly wage 30 × 46. = 1380

Excess hours 30×1/2×(46-40) =90

Total Gross =1470

Less:

Income Tax 350

Social Security ta 1470×6%. 88.2

Medicare tax 1470×1.5% 22.05

Net Pay 1009.75

Hence Option B is correct.

Answer:

b. $1,009.75

Explanation:

                                                                   $

Hourly wage                 30 × 46                       1380

towards excess hours 30 × 1/2 × (46-40)        90

Total Gross                                                1470

Less: Income Tax                                        350

Social Security ta 1470 × 6%                       88.2

Medicare tax 1470 × 1.5%                              22.05

Net Pay                                                     1009.75