For an employee earning $10.20 per hour and participating in a 401 (k) plan with a deferral per pay period of $50, compute the federal taxable wages based on the following:

A) BiWeekly Pay period Regular 80 hours

B) 4 hours overtime

C) 3 hours double-time

Question

Moises Duke

Mathematics

4 January, 11:10

For an employee earning $10.20 per hour and participating in a 401 (k) plan with a deferral per pay period of $50, compute the federal taxable wages based on the following:

A) BiWeekly Pay period Regular 80 hours

B) 4 hours overtime

C) 3 hours double-time

+3

Answers (1)

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Spunky · Answer 1

Answer: federal taxable wages = $888.40

Step-by-step explanation:

Federal taxable wages = total wage - deferral per pay

To calculate total pay, we estimate for each condition given.

A) regular 80hour = 80 * $10.20 = $816.00

B) 4 hours overtime = 4 * 1.5 * $10.20 = $61.2

C) 3hours double time = 3 * 2*$10.20 = $61.2

Note: the pay rate for overtime and double time is usually 1.5 and 2 times the regular pay rate respectively.

Total wage = $ (816+61.2+61.2) = $938.4

Deferral per pay period according to the question is = $50

Federal taxable wages = $938.4 - $50

=$888.40

Goodluck.

For an employee earning $10.20 per hour and participating in a 401 (k) plan with a deferral per pay period of $50, compute the federal taxable wages based on the following:A) BiWeekly Pay period Regular 80 hoursB) 4 hours overtimeC) 3 hours double-time

For an employee earning $10.20 per hour and participating in a 401 (k) plan with a deferral per pay period of $50, compute the federal taxable wages based on the following:

A) BiWeekly Pay period Regular 80 hours

B) 4 hours overtime

C) 3 hours double-time