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

question 141

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%; and 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.

---

Definitions:

LSD

LSD, or lysergic acid diethylamide, is a powerful hallucinogenic drug known for altering perception and mood.

Mild Hallucinogen

A substance that induces subtle alterations in perception, mood, and thought, without causing intense hallucinations or loss of reality.

AIDS

Acquired Immune Deficiency Syndrome, a critical illness triggered by the human immunodeficiency virus (HIV) that drastically impairs the immune system.

Marijuana

A mind-altering substance derived from the Cannabis plant, utilized for either therapeutic or leisure activities.