Mr. Zee worked 48 hours during the week ended January 18, 2019. He is paid $12 per hour and is paid time and a half for all hours over 40 in a week. He had $100 withheld from his pay for federal income taxes and $20 withheld for health insurance. The combined social security and Medicare tax rate is 7.65%, and the federal and state unemployment tax rates are 0.6% and 3.8%, respectively. All earnings are taxable. What is the net pay for Mr. Zee's current paycheck?

Question

Vaughn

Business

17 September, 01:31

Mr. Zee worked 48 hours during the week ended January 18, 2019. He is paid $12 per hour and is paid time and a half for all hours over 40 in a week. He had $100 withheld from his pay for federal income taxes and $20 withheld for health insurance. The combined social security and Medicare tax rate is 7.65%, and the federal and state unemployment tax rates are 0.6% and 3.8%, respectively. All earnings are taxable. What is the net pay for Mr. Zee's current paycheck?

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Answers (1)

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Malachi Alvarado · Answer 1

=$524.81

Explanation:

Net pay = Earning - taxation

Calculating net pay: hour pay x hours worked

= $12 x 40

= $ 480

overtime pay = 12 + (50/100x12) x 8

= (12+6) x8

=144

total earnings = $144+$ 480 = $624

less deduction

social and medicare rate = 7.65 percent

federal and state unemployment rate = 0.6 + 3.8%

total deduction = 7.65 + O. 6 + 3.8 = 12.05 %

Actual deduction = 12.05/100 x 624 = 75.19

Net pay = $624 - $75.19

=$524.81