An Employee Receives an Hourly Rate of $15,with Time and a Half

question 144

Multiple Choice

An employee receives an hourly rate of $15,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,$120; social security tax rate,6%; 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.What is the net amount to be paid to the employee?

• A)$568.74
• B)$601.50
• C)$660.00
• D)$574.90

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Definitions:

Standard Deviation

A measure of the amount of variation or dispersion in a set of values.

Bivariate Statistics

Statistical methods that involve the analysis of two variables simultaneously, for the purposes of determining the empirical relationship between them.

Anomalous Data

Data points that deviate significantly from the rest of the data, indicating a potential error or an unusual occurrence.

Central Tendency

A statistical measure that identifies a single value as representative of an entire distribution of data, commonly referred to as the mean, median, or mode.