What is the net amount to be paid the employee


An employee receives an hourly rate of $24, 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, $354; cumulative earnings for year prior to current week, $95,735; social security tax rate, 6.0% on maximum of $111,091; and Medicare tax rate, 1.5% on all earnings. What is the net amount to be paid the employee?

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Accounting Basics: What is the net amount to be paid the employee
Reference No:- TGS082610

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