Compute the Net Pay for Each Employee Listed Below

question 71

Essay

Compute the net pay for each employee listed below.Assume the following rates: FICA-OASDI 6.2% on a limit of $106,800; Medicare is 1.45%; federal income tax is 20%; state income tax is 5%; and union dues are $10.
$\begin{array}{llcc} &\text { Cumulative Pay}& \text { This Week's Pay}\\ \text { Tim Bryant } & \$105,000&\$5,000 \\ \text { Bornie Riley } &60,000&3,000\\\end{array}$

Comprehend the concept of sunk costs and how they influence financial decisions.

Apply cost concepts in product pricing, including markup and target costing.

Identify and calculate fixed and variable costs in different scenarios.

Understand the concept of globalization and its impact on markets and production.

---

Definitions:

Dreams and Aspirations

Individual desires for the future or goals that a person hopes to achieve.

Problem Discourse

Conversations or dialogue that focus primarily on issues, difficulties, or concerns to be addressed or resolved.

Dominant Narrative

The prevailing story or discourse within a society or group that often marginalizes alternative perspectives or experiences.

Preferred Narrative

This is an individuals' chosen story or narrative about their life, often constructed in a way that highlights certain experiences and values over others.