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An employee earns $40 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. Assume that the employee worked 60 hours during the week, and that the gross pay prior to the current week totaled $58,000. Assume further that the social security tax rate was 7.0% (on earnings up to $100,000), the Medicare tax rate was 1.5%, and the federal income tax to be withheld was $614.
Required:
(1) Determine the gross pay for the week.
(2) Determine the net pay for the week.
Fathers
Male parents who contribute to the upbringing and care of their children, playing key roles in their development and well-being.
Cultural Heritage
The practices, traditions, knowledge, and artifacts passed down through generations within a community or society.
Economic Adversity
Financial hardship or difficulties, often leading to a lower standard of living or poverty.
Prejudice
Preconceived opinions or judgments toward people or a group based on race, religion, gender, etc., without complete knowledge or experience.
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