What is the net pay for the employee


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 net pay for the employee?

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: What is the net pay for the employee
Reference No:- TGS0683309

Expected delivery within 24 Hours