An employee receives an hourly rate of $25, 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, 43; federal income tax withheld, $328; cumulative earnings for year prior to current week, $97,324; social security tax rate, 6.0% on maximum of $104,563; and Medicare tax rate, 1.5% on all earnings. What is the gross pay for the employee?
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An employee receives an hourly rate of $25, with time and a half for all hours worked in excess of 4...
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