Jim Janney Is Paid $6 Per Hour, Plus Double-Time for Hours

question 21

Essay

Jim Janney is paid $6 per hour, plus double-time for hours worked on weekends. During the two-week period ending February 5, Janney worked 70 hours on weekdays and 8 hours on weekends. Social security taxes are 6.2 percent, Medicare taxes are 1.45 percent, $65 is withheld for federal taxes, $18 is withheld for state income taxes, and $24 is withheld for charities. In addition, Janney's employer must pay social security taxes of 6.2 percent, Medicare taxes of 1.45 percent, federal unemployment taxes of .8 percent, and state unemployment taxes of 5.4 percent. Calculate (a) Janney's gross earnings, (b) Janney's net pay, (c) the employer's payroll taxes expense, and (d) the total cost of employing Janney for the two-week period. Round all amounts to the nearest penny.

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Definitions:

Zheng He

A Chinese mariner, explorer, diplomat, and fleet admiral during China's early Ming Dynasty, who led expeditions throughout Southeast Asia, South Asia, the Middle East, and East Africa from 1405 to 1433.

Africa

The world's second-largest and second-most populous continent, rich in cultural diversity, natural resources, and history.

English Law

The legal system of England and Wales, characterized by common law principles, parliamentary statutes, and legal precedents.

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Rights that are bestowed upon individuals by the legal system, including civil, political, and social rights protected by law.