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

question 2

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; cumulative earnings for the year prior to this week, $24,500; Social security tax rate, 6% on maximum of $100,000; and Medicare tax rate, 1.5% on all earnings; state unemployment compensation tax, 3.4% on the first $7,000; federal unemployment compensation tax, .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:

Proportion

A statistical measure that reflects the size of one part in relation to a whole, often expressed as a fraction or percentage.

M&M Candy

A brand of colorful button-shaped chocolates produced by Mars, Incorporated.

Same Color

In the context of data visualization, refers to using a single color to represent a certain category or data group for easy identification.

Production Run

A period of manufacturing activity where a particular process or item is produced continuously or in batches.