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19 July, 05:23

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

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Answers (2)
  1. 19 July, 07:28
    0
    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
  2. 19 July, 09:22
    0
    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.
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