An employee receives an hourly rate of $27, 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 $106,800; and Medicare tax rate, 1.5% on all earnings. What is the gross pay for the employee

$1,323

Explanation:

The computation of the gross pay for the employees is shown below;

Gross pay = ( Hours worked × Hourly rate ) + (Hours worked - excess worked hours) × Hourly rate × half yearly basis

= (46 hours × $27 ) + (46 hours - 40 hours) × $27 × 0.50

= $1,323

We simply applied the above formula to determine the gross pay for the employee without deducting any kind of taxes given in the question.

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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