An Employee Receives an Hourly Rate of $30, with Time

question 22

Multiple Choice

An employee receives an hourly rate of $30, 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, $300; cumulative earnings for year prior to current week, $90,700; 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?

• A) $1,147.95
• B) $1,059.75
• C) $1,470.00
• D) $1,359.75

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Definitions:

Demand

The consumer's desire and willingness to pay a price for a specific good or service.

Buyer-supplier Relationship

The dynamic interaction between companies that buy goods and services and those that sell them.

Strategic Items

Products or components critical to a company's competitive position and operational performance.

Availability

The degree to which a product, service, or resource is obtainable or accessible.