An Employee Receives an Hourly Rate of $45, with Time

question 77

Essay

An employee receives an hourly rate of $45, with time and a half for all hours worked in excess of 40 during the week. Payroll data for the current week are as follows: hours worked, 48; federal income tax withheld, $950; social security tax rate, 6.0%; Medicare tax rate, 1.5%; state unemployment compensation tax, 3.4% on the first $7,000; federal unemployment compensation tax, 0.8% on the first $7,000.Calculate the employer's payroll tax expense if:

(a) This is the first payroll of the year and the employee has no cumulative earnings for the year to date.
(b) The employee's cumulative earnings for the year prior to this week equal $6,200.
(c) The employee's cumulative earnings for the year prior to this week equal $118,700.

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Definitions:

Genetic Traits

Characteristics that are inherited from our parents through genes, influencing various aspects of our physical and behavioral traits.

Etiology

The study of the causes or origins of diseases and disorders, understanding how they develop.

Industrial Revolution

A period of major industrialization that took place during the late 1700s and early 1800s, radically changing society with advancements in technology and manufacturing.

Workplace Injuries

Injuries or illnesses that occur in relation to an individual's job, often leading to absenteeism, reduced productivity, or disability.